911-919 New Haven AveMelbourne, FL 32901

Property Details for 911-919 New Haven Ave

Year built

1920

Lot size

0.15 AC

Property size (Sq ft)

8,607 SF

Property type

Mixed-use properties

Property subtype

Other retail properties

Description

This exceptional mixed-use investment property, located at 911-919 E New Haven Ave, Melbourne, FL 32901, presents a compelling value-add opportunity. The 8,607 square foot building, constructed in 1920 and renovated in 2023, comprises two buildings on a 0.15-acre lot (APN: 28-37-03-FC-26-2). Currently operating at 60% occupancy with three tenants, the property features five units: two commercial spaces (a 1,548 sq ft ice cream store and a 2,169 sq ft gift shop on the first floor of one building, and an 864 sq ft coffee shop in the second building) and two residential apartments (a 3-bedroom/1-bathroom and a 3-bedroom/2-bathroom unit on the second floor of the first building). The property boasts a pro-forma NOI of $142,200, representing a 6.46% cap rate. Zoned C-3 (City of Melbourne Central Business District), the property allows for a variety of uses, including office, retail, short-term rentals, and restaurants. Its prime location in downtown Melbourne offers high visibility and foot traffic, with estimated exposure to 15,000 vehicles per day on New Haven Avenue. The property's proximity to Hotel Melby, Highline Apartments, beaches, restaurants, and shopping, along with its convenient location near Melbourne International Airport (less than a 10-minute drive), makes it an attractive investment. The asking price is $2,200,000 ($255.61/sq ft). Additional financial details are available to qualified buyers. Please note: Do not disturb tenants.

Location Insight

City

Melbourne

County

Brevard

State

Florida

Latitude

28.0783

Longitude

-80.6055

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].