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Property profile & analytics
OFF-MARKET Estimated value $745,000
Office buildings

308 Orange St Melbourne Beach, FL 32951-2628

3,676 SF 0.47 ac lot Built 1973
Entity Owned 1-yr Hold ~ Est. High Equity
Property ID
US19-0406440
Property summary
AI-generated overview

This exceptional commercial property, located at 308 Orange Street in Melbourne Beach, Florida (zip code 32951), presents a unique investment opportunity. Situated on a substantial 20,473.2 square foot lot – approximately half an acre – this property enjoys a prime corner location just one block from both the Atlantic Ocean and the Indian River. The single-story building, constructed in 1973, features a newly installed roof (2017), minimizing immediate maintenance concerns. Currently zoned for retail use, this versatile property offers significant potential for redevelopment or repurposing. The expansive lot size allows for various development options, catering to a wide range of commercial ventures. Its proximity to the ocean and the Indian River provides unparalleled access to recreational activities and stunning natural beauty, making it an attractive location for businesses and customers alike. The asking price for this exceptional property is $750,000. This is a rare chance to acquire a highly desirable commercial property in a sought-after coastal location. The property's location, combined with its size and recent roof replacement, makes it an ideal investment for those seeking a high-return opportunity in a thriving Florida market.

Property profile
Verified
Property type Office buildings
Use group PROFESSIONAL BUILDING
Year built 1973
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 3,676 SF
Lot 0.47 ac (20,473 SF)
Zoning code 2RS
APN 28-38-08-52-0000C.0-0001.00
UPID US19-0406440
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
$715k
CAP Approach CAP
$820k
Comparable Approach Comparable
$613k
Blend (final) Blend
$745k
Owner & transaction history
Rock Harbor Covenant Church INC · 1 yrs held
Rock Harbor Covenant Church INC
since 2025
Last sale
$740,000
4 recorded transactions
2025
$740,000
2017
Price N/A
2012
$285,000
2004
$345,000
Zoning & alternative use
2RS · Melbourne Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general) $870,000 +25.5%
Auto repair, garage $765,000 +10.4%
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