2304 Babcock StMelbourne, FL 32901

Property Details for 2304 Babcock St

Year built

1952

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.18 AC

Property size (Sq ft)

1,131 SF

Zone code

C1A

Property type

Office buildings

APN

28-37-04-75-00000.0-0035.00

APU

9223372036854775807

Description

This single-story, 1,131 square foot office building, located at 2304 S Babcock Street in Melbourne, Florida, presents a fantastic opportunity. Built in 1952 and situated on a 0.18-acre lot, the property is zoned C1A and features a convenient open reception/waiting area. The interior includes one large and one small office space, a kitchenette, and a bathroom. Ample off-street parking is available. The asking price is $275,000, translating to $243.15 per square foot. The building is classified as Class C and offers the flexibility of use as either traditional or creative office space. The property is ready for occupancy on March 18, 2024. Its location just south of 192, on the west side of Babcock Street in Brevard County (zip code 32901), provides excellent accessibility. The property's APN is 28-37-04-75-*--35. This is an ideal investment for those seeking a well-located, versatile office space in a thriving area.

• CAP approach

  CAP return

  Valuation

  6%

  $310,844

  6.5%

  $286,933

  7%

  $266,438

• Comparable approach

  Method

  Valuation

  Relative Method

  $177,601

  Geo Method

  $177,601

• Alternative Use

  Use

  Valuation

  Residential

  $355,797

  Hospitality

  $325,908

  Educational

  $271,152

  Medical

  $280,477

  Retail

  $421,792

Location Insight

City

Melbourne

County

Brevard

State

Florida

Latitude

28.0744

Longitude

-80.6216

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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