691 Washburn Rd Melbourne, FL 32934-7318
- Auto shops
- 3,200 SF
- 1.00 lot acres
Current Use by Public Records
- Monsta Performance Inc / Auto Repair Shop / Mechanic
Property Details for 691 Washburn Rd
- Year built
- 1984
- Construction
- FRAME
- Lot size
- 1.00 lot acres
- Property size
- 3,200 SF
- Zone code
- M1
- Property type
- Auto shops
- APN
- 27-36-24-50-00000.0-0009.00
- APU
- 9223372036854775807
Description
This exceptional investment opportunity presents two Melbourne, Florida warehouses totaling 10,700 square feet on a 43,560 square foot lot. Building 691, a 3,200 square foot structure (240 sq ft office, 2960 sq ft warehouse), is currently 30% occupied by a tenant, boasting 14-16 foot clear height ceilings and four 12x12 foot grade-level doors. Building 697, a newly constructed (2023) 7,500 square foot metal warehouse, is currently vacant and features 9-14 foot clear height ceilings and an additional four 12x12 foot grade-level doors. Both buildings share 30 paved, striped, and lighted parking spaces, City water/sewer, and 1-phase 200-amp 240v FPL electric. The property is zoned M-1 (City of Melbourne Light Industrial), permitting warehousing, automotive uses, light assembly/manufacturing, and more. Strategically located near three I-95 interchanges and major employers including Melbourne International Airport, Northrop Grumman, and Amazon, this property offers significant potential. The asking price is $1,895,000, and seller financing is available. The property features a gross lease type and is classified as Class B. APN: 27-36-24-50-*-9.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $275,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $200,000
- 6.5%
- $200,000
- 7%
- $180,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $175,000
- Geo Method
- $220,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $215,000
- Retail
- $200,000
- Mixed-Use
- $225,000
- Hospitality
- $220,000
- Educational
- $195,000
- Residential Income
- $205,000
- Energy
- $230,000
- Income-Based Land
- $240,000
- Food Service
- $200,000
Location Insight
- Map
- Local Demand
- City
- Melbourne
- County
- Brevard
- State
- Florida
- Longitude
- -80.6859
- Latitude
- 28.1176
- CBSA code
- 37340
- CBSA name
- PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA