1112 New Haven AveMelbourne, FL 32904

Property Details for 1112 New Haven Ave

Year built

1991

Lot size

1.00 AC

Property size (Sq ft)

11,400 SF

Property type

Retail properties

Property subtype

Office properties

Description

This stabilized investment opportunity in Melbourne, Florida, presents a compelling mix of retail and office space. The property comprises two buildings totaling 11,400 square feet on a one-acre lot, situated at 1112 W New Haven Ave, 32904. Built in 1991 and 2009, the buildings feature eight units, currently occupied at 67.5% capacity. The property boasts a strong pro-forma net operating income (NOI) of $142,842, yielding a 6.49% cap rate. The asking price is $2,200,000, translating to $192.98 per square foot. The property is zoned C-NH Commercial New Haven and offers significant upside potential. Currently, 3,700 square feet of vacant space in the 1991 building (1106-1112 New Haven Ave) is available, previously occupied by the owner, and can be subdivided into two tenancies. The existing tenants enjoy a modified lease structure with 3% annual rent bumps. This high-visibility location features lighted signage on New Haven Avenue, ensuring optimal exposure for businesses. The property is ideal for owner-users seeking to occupy the vacant space while generating income from existing tenants, or for investors seeking a stable, cash-flowing asset with significant growth potential. The property includes 5,700 square feet in each building, with four units per building.

Location Insight

City

Melbourne

County

Brevard

State

Florida

Latitude

28.0792

Longitude

-80.6396

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