425 Babcock StMelbourne, FL 32901

Property Details for 425 Babcock St

Year built

1987

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.14 AC

Property size (Sq ft)

900 SF

Zone code

C1

Property type

Retail space

APN

27-37-27-51-00000.0-0258.00

APU

9223372036854775807

Description

This 900-square-foot freestanding retail building, situated on a 0.14-acre lot at 425 S Babcock St in Melbourne, Florida (zip code 32901), presents a compelling investment opportunity. Built in 1987, the single-story concrete block structure boasts a C1 - Neighborhood Commercial zoning designation, allowing for diverse business applications. Benefiting from a daily traffic count of nearly 25,000 vehicles, this property enjoys exceptional visibility and accessibility. Currently operating as a window, glass, and screen repair shop, the building's adaptable layout easily accommodates various retail or service businesses. The asking price is $349,900, translating to $388.78 per square foot. Owner financing and lease options are available. Note that the existing business is also for sale separately for $50,000 (details upon request). This property is located in Brevard County and offers significant potential for growth and return on investment.

• CAP approach

  CAP return

  Valuation

  6%

  $272,943

  6.5%

  $251,948

  7%

  $233,951

• Comparable approach

  Method

  Valuation

  Relative Method

  $146,980

  Geo Method

  $146,980

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $480,121

  Mixed-Use / Specialty

  $255,576

  Hospitality / Lodging

  $193,402

  Office

  $258,773

  Institutional / Educational

  $267,314

  Residential Income

  $312,757

  Multifamily

  $350,010

  Automotive / Energy

  $229,126

  Parking / Income-Based Land

  $74,596.50

  Restaurant / Food Service

  $142,588

  Healthcare / Senior Housing

  $257,447

Location Insight

City

Melbourne

County

Brevard

State

Florida

Latitude

28.1017

Longitude

-80.6215

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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