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Property profile & analytics
FOR SALE
Strip malls

924 E New Haven Ave Melbourne, FL 32901

8,846 SF 0.6 ac lot Built 1962
Entity Owned 8-yr Hold Absentee Owner Free & Clear
Property ID
US18-4819016
Property summary
AI-generated overview

This exceptional single-tenant retail property, located at 924 E New Haven Ave in Melbourne, Florida, presents a unique investment opportunity. Boasting 1,775 square feet of vacant space in a 1-story, 1925-built building, this property is ideally suited for a variety of businesses. The property's zoning is C-C3, allowing for diverse commercial uses. Its prime downtown Melbourne location offers high visibility and accessibility, benefiting from the area's ongoing growth and development. The property's APN is 28-37-03-FD-20-2.05, and it's situated in Brevard County, Florida, zip code 32901. The building's single-story design provides efficient use of space, and its location within a thriving downtown area ensures high foot traffic. Nearby apartment complexes create a built-in customer base, further enhancing the property's potential. This 1,775 square foot space is ready for immediate occupancy, offering a blank canvas for a new business venture. The property's historical charm, combined with its modern location, makes it an attractive option for entrepreneurs seeking a high-traffic, established area. This is a rare opportunity to establish a business in a vibrant and growing downtown core. The property's single-tenant status provides flexibility and control for the new owner.

Property profile
Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1962
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 8,846 SF
Lot 0.6 ac (26,136 SF)
Zoning code C2
APN 28-37-04-30-00005.0-0003.00
UPID US18-4819016
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
  • Wavelength Electrical Contracting Electrical Service General Contractor
  • Bonnie and Clyde's Hair Salon
  • Towers Group Realty Corporate Office
  • Von Stephan Village Bier Garten Restaurant - Melbourne Restaurant
  • Railroad Emporium Fire Alarm Fire Station
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.29M
Blend (final) Blend
$1.06M
Owner & transaction history
Stephan Prop Of Florida INC · 8 yrs held
Stephan Prop Of Florida INC
since 2018
2 recorded transactions
2018
Price N/A
2018
$675,000
Zoning & alternative use
C2 · Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building $1.5M +27.6%
Retail stores $1.5M +25.3%
Medical building $1.4M +16.9%
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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