311 6Th AveIndialantic, FL 32903

Property Details for 311 6Th Ave

Year built

1958

Construction

WOOD

Lot size

0.23 AC

Property size (Sq ft)

1,659 SF

Zone code

RP

Property type

Office properties

Property subtype

Office buildings

APN

27-38-31-EO-00016.0-0009.00

APU

273831EO000160000900

Description

This exceptional free-standing office building presents a unique investment opportunity in the thriving Indialantic, Florida market. Located just one block south of the vibrant downtown area and a mere two blocks from the beach, this property enjoys unparalleled visibility and accessibility. The 0.23-acre lot houses a concrete block structure featuring five private offices, a welcoming reception area, ample storage space, and a convenient kitchenette. On-site parking ensures ease of access for both staff and clients. The functional layout is ideal for a variety of professional office or medical uses, capitalizing on the area's low retail vacancy rate (below 3%). Its strategic location offers strong foot traffic and proximity to Downtown Melbourne, Brevard County's largest employment hub, only two miles away. The building boasts a newer roof (installed in 2013), contributing to its excellent condition and minimizing future maintenance needs. Furthermore, the versatile zoning allows for either commercial or single-family development, presenting significant potential for future expansion or alternative uses, enhancing the long-term value of this exceptional investment. This turnkey property is ready for immediate occupancy and offers a compelling blend of location, functionality, and future development potential.

• CAP approach

  CAP return

  Valuation

  6%

  $455,960

  6.5%

  $420,886

  7%

  $390,823

• Comparable approach

  Method

  Valuation

  Relative Method

  $260,513

  Geo Method

  $260,513

• Alternative Use

  Use

  Valuation

  Residential

  $521,899

  Hospitality

  $478,056

  Educational

  $397,737

  Medical

  $411,416

  Retail

  $618,702

Location Insight

City

Indialantic

County

Brevard

State

Florida

Latitude

28.0893

Longitude

-80.5712

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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