653 E University Blvd Melbourne, FL 32901
- Grocery and convenience stores
- 3,120 SF
- 0.62 lot acres
Current Use by Public Records
- University Food Mart / Grocery Store
- bp / Car Wash / Gas Station
- U-Mart / Gas Station / Convenience Store
Property Details for 653 E University Blvd
- Year built
- 1980
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.62 lot acres
- Property size
- 3,120 SF
- Zone code
- CC2
- Property type
- Grocery and convenience stores
- APN
- 28-37-10-00-00757.0-0000.00
- APU
- 9223372036854775807
Description
This exceptional investment opportunity presents a 27,007.2 sq ft property at 653 E University Boulevard, Melbourne, FL 32901. Built in 1980, this versatile property currently operates as a thriving convenience store and gas station, included in the sale price of $1,400,000. The property boasts a C-1 Neighborhood Zoning Commercial classification, offering flexibility for various uses including residential development, office, medical, and retail. Its strategic location, less than a mile from Florida Institute of Technology, places it on a high-traffic corridor with an estimated 10,000 vehicles daily (buyer to verify). The property consists of one unit situated on a substantial lot, presenting significant potential for growth and diverse income streams. This is a rare chance to acquire a turnkey business and prime real estate in a desirable location. The property's zoning allows for a wide range of development options, catering to various investment strategies. The high daily traffic count ensures strong visibility and potential for increased revenue. This is a unique opportunity to capitalize on a thriving business and a highly sought-after location in Melbourne, Florida.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $920,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,110,000
- 6.5%
- $1,140,000
- 7%
- $1,105,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,140,000
- Geo Method
- $1,220,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,485,000
- Retail
- $1,085,000
- Mixed-Use
- $1,275,000
- Hospitality
- $1,095,000
- Educational
- $1,090,000
- Residential Income
- $1,095,000
- Energy
- $1,240,000
- Income-Based Land
- $1,455,000
- Food Service
- $1,140,000
Location Insight
- Map
- Local Demand
- City
- Melbourne
- County
- Brevard
- State
- Florida
- Longitude
- -80.6101
- Latitude
- 28.0633
- CBSA code
- 37340
- CBSA name
- PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA
