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Property profile & analytics
OFF-MARKET Estimated value $1,205,000
Strip malls

1406 Highland Ave Melbourne, FL 32935-6519

5,373 SF 0.2 ac lot Built 1951
Entity Owned 3-yr Hold ~ Est. High Equity
Property ID
US18-0466957
Property summary
AI-generated overview

This exceptional 1,850 square foot retail space is ideally situated in the vibrant heart of EGAD, boasting a prime location amongst numerous restaurants, shops, and a bustling park area that hosts frequent events. The single-tenant property sits on a 0.2-acre lot (APN: 27-37-16-25-00023.0-0009.01) and offers a versatile layout perfect for a variety of uses. The space features a large, open storefront with ample windows providing excellent natural light and visibility. Inside, you'll find a couple of smaller private offices, a convenient kitchen/breakroom, and another spacious open area in the rear. A significant advantage is the private rear parking area accessible through a dedicated rear entrance, offering both convenience and exclusivity. This property presents a fantastic opportunity for a small restaurant, retail store, or office space seeking high visibility and a thriving location within a dynamic community. The property's versatile design and prime location make it an exceptional investment opportunity. The combination of high foot traffic, proximity to amenities, and the unique features of the space make this a truly remarkable offering.

Property profile
Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1951
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 5,373 SF
Lot 0.2 ac (8,712 SF)
Zoning code C3
APN 27-37-16-25-00023.0-0009.01
UPID US18-0466957
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
$1.27M
CAP Approach CAP
$1.10M
Comparable Approach Comparable
by Request
Blend (final) Blend
$1.21M
Owner & transaction history
Lj Real Estate Holdings LLC · 3 yrs held
Lj Real Estate Holdings LLC
since 2023
Last sale
$1.5M
2 recorded transactions
2023
$1.5M
2004
$470,000
Zoning & alternative use
C3 · Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general) $1.7M +126.2%
Office building $1.5M +102.6%
Auto repair, garage $1.2M +63.2%
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