1987 Highland Ave Melbourne, FL 32935
This exceptional .2-acre property at 1987 Highland Avenue in Melbourne, Florida (zip code 32935), offers a unique investment opportunity. The 2700 square foot building, constructed in 2013, currently features four bedrooms and three and a half bathrooms, but its C1 zoning allows for a wide range of commercial uses. Situated in the vibrant Historic Eau Gallie Arts District, this single-tenant building presents a versatile space ideal for various businesses. Potential uses include a high-end spa, salon, fitness studio, physician's office, professional office, art gallery, vacation rental, or assisted living facility. The property boasts ample parking for six vehicles on the parcel. The existing structure provides a solid foundation for immediate occupancy or renovation, depending on the chosen commercial venture. The property's location within the Arts District offers high visibility and access to a thriving community. The lot size of 0.2 acres provides ample space for outdoor amenities or expansion. The APN is 27-37-16-25-00010.0-0002.00. This is a single-story building with a pool. Don't miss this chance to acquire a versatile commercial property in a desirable location.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.