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FOR SALE
Retail space
604 E New Haven Ave Melbourne, FL 32901
Entity Owned
12-yr Hold
Free & Clear
Property ID
US18-0680135
For Sale
1 / 66
$799,000
604 E New Haven Ave, Melbourne, FL 32901
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Property summary
AI-generated overview
This exceptional mixed-use property, located at 604 E New Haven Avenue in the heart of Downtown Melbourne, Florida (zip code 32901), presents a unique investment opportunity. Priced at $884,500, this offering is situated on a 6,534 sq ft lot and comprises two buildings, each with separate entrances, ideal for multi-tenant occupancy. Built in 1954, the property boasts a total of approximately 4070 square feet of space, constructed of block. Currently operating as an escape room, the versatile layout includes nine offices, a spacious reception area, and ample storage, making it suitable for a variety of uses including retail, professional services, medical practices, or even a bar/restaurant. The property also features a side drive, providing convenient on-site parking or the potential for an outdoor seating area. Owner financing is available with a 30% down payment, a 5-year balloon mortgage, and a 7% interest rate. This presents a chance to own a thriving downtown Melbourne business without the complexities of traditional mortgage qualification. Enjoy the vibrant atmosphere of Downtown Melbourne, with its diverse restaurants, bars, and events, all within easy walking distance. The property's current tenant is happy and the business is established. Serious inquiries only.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1954
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,070 SF
Lot
0.15 ac (6,534 SF)
Zoning code
C3
APN
28-37-03-FC-00040.0-0014.00
UPID
US18-0680135
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
Current use
Occupant on record · Public records
-
Escape Room Entertainment-DT Arcade & Gaming Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$720k
Comparable Approach
Comparable
$724k
Blend (final)
Blend
$535k
Owner & transaction history
South Realty & Investments INC · 12 yrs held
South Realty & Investments INC
since 2014
5 recorded transactions
Zoning & alternative use
C3 · Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$710,000
+1.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Melbourne submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Melbourne submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$780,000
6.5%
$720,000
7%
$670,000
Alternative Use
Use
Estimation
RETAIL STORES
$700,000
Current use
OFFICE BUILDING
$710,000
Change: +2% · Conversion: Easy
MEDICAL BUILDING
$650,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$535k
Range $482k – $589k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$131 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$7,464
Tax year 2023
Assessed value
$411,390
Assessed 2023
Previous assessed
$407,730
+0.9% YoY
Effective rate
1.81%
On assessed value
Assessed land
$199,800
Assessed improvement
$211,590
Land market value
$199,800
Improvement market value
$211,590
Total market value
$411,390
Applied tax rate
34.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Sale
Year built
1954
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
NONE
Stories
1
Units
2
Total area
4,070 SF
Lot
0.15 ac (6,534 SF)
Zoning code
C3
APN
28-37-03-FC-00040.0-0014.00
UPID
US18-0680135
Jurisdiction
BREVARD
Zoning & alternative use
C3 · Melbourne, FL
Zoning C3 · permitted uses
C3 · Melbourne, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Melbourne. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$700,000
OFFICE BUILDING
Est. value
$710,000
MEDICAL BUILDING
Est. value
$650,000
RETAIL STORES Current
OFFICE BUILDING
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1954
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Units
2
Lot
0.15 ac
Current owner
From public records · entity-resolved
South Realty & Investments INC
Entity
Free & Clear · 12 yrs held
Mailing address
505 E NEW HVN AVE, MELBOURNE, FL 32901-5426
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 11, 2014
$312,000
South Realty & Investments INC
Franklin Asset Group LP
Special Warranty Deed
—
Aug 18, 2006
$306,200
Guitar Haven INC
Katz,howard & Anna
Warranty Deed
$401,000 · Interbay Funding LLC
Oct 6, 2004
$100,000
Howard Katz
Katz,marvin & Virginia A
Warranty Deed
related
$200,000 · First Business Bank
Feb 18, 2000
$135,000
Marvin Katz
Viesins,walter
Grant Deed
$138,139 · First Union National Bank
—
—
Howard Katz
—
Deed Of Trust
related
$10,800 · Us Small Business Admn
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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