Technical
Financial
Distress signals
Property profile

653 E University Blvd Melbourne, FL 32901

FOR SALE
Grocery and convenience stores
Property ID
US18-5181948
3,120 SF 0.62 ac lot Built 1980
Entity Owned 3-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

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.

Property profile

Verified
Property type Grocery and convenience stores
Use group CONVENIENCE STORE (W/FUEL PUMP)
Year built 1980
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 3,120 SF
Lot 0.62 ac (27,007 SF)
Zoning code CC2
APN 28-37-10-00-00757.0-0000.00
UPID US18-5181948

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Grocery & Convenience Store Food Market
  • Car Wash
  • Auto Repair Shop

Location

653 E University Blvd Melbourne, FL 32901
Melbourne metro Census 65124 PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$1.05M
CAP Approach CAP
by Request
Comparable Approach Comparable
$826k
Blend (final) Blend
$920k

Owner & transaction history

since 2023
Last sale
$1.2M
4 recorded transactions
2023
$1.2M
2017
Price N/A
2016
$657,604
2007
$400,000

Zoning & alternative use

CC2 · Melbourne, FL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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