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    FOR SALE
    Truck terminals

    1291 Lake Washington Rd, Melbourne, FL 32935

    10,498 SF 1.88 ac lot Built 2005
    Entity Owned 21-yr Hold Absentee Owner ~ Est. High Equity
    Property ID
    US18-5922998
    Property summary
    AI-generated overview

    This exceptional mixed-use property, located at 1291 Lake Washington Road in Melbourne, Florida (zip code 32935), presents a unique investment opportunity. The 1-story, 2005-built building sits on a substantial 81,892.8 square foot (.95 acre) corner lot, offering excellent visibility and accessibility. Currently configured as a non-operating car wash, the property features two drive-thru bays, four self-service bays, and four vacuum stations, providing a solid foundation for a revitalized car wash business. Alternatively, the versatile lot and high-traffic location, with two points of access and proximity to US Highway 1, lend themselves to a variety of other commercial ventures. The property's location within the bustling Lake Washington community in Brevard County guarantees a steady stream of potential customers. This is a rare chance to acquire a well-situated property with significant potential for growth and return on investment. The asking price is $1,000,000. The property consists of one unit.

    Property profile
    Verified
    Property type Truck terminals
    Use group TRUCK TERMINAL (MOTOR FREIGHT)
    Year built 2005
    Construction FRAME
    Total area 10,498 SF
    Lot 1.88 ac (81,893 SF)
    Zoning code M1
    APN 27-37-08-00-00771.0-0000.00
    UPID US18-5922998
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $950k
    Blend (final) Blend
    $1.08M
    Owner & transaction history
    M & M Tile Warehouse INC · 21 yrs held
    M & M Tile Warehouse INC
    since 2004
    2 recorded transactions
    2004
    1969
    Zoning & alternative use
    M1 · Melbourne, FL
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Medical building $1.7M +33.9%
    Retail stores $1.5M +22.2%
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    Ask anything about this address in plain English.
    “Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
    More about this property
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