1112 New Haven AveMelbourne, FL 32904

  • Office properties
  • 11,400 SF
For Sale
$2,200,000 View listing

Property Details for 1112 New Haven Ave

Year built
1991
Lot size
1.00 AC
Property size (Sq ft)
11,400 SF
Property type
Office properties
Property subtype
Other retail 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.

1112 New Haven Ave, Melbourne, Florida

Location Insight

City
Melbourne
County
Brevard
State
Florida
Latitude
28.0792
Longitude
-80.6396

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