3700 Harbor City BlvdMelbourne, FL 32935

Property Details for 3700 Harbor City Blvd

Year built

1983

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.71 AC

Property size (Sq ft)

8,964 SF

Zone code

C1

Property type

Office properties

Property subtype

Office buildings

APN

27-37-05-03-0000K.0-0001.00

APU

273705030000K0000100

Description

This exceptional investment opportunity presents a two-story, 7,260 square foot office building situated on a 0.71-acre lot in Melbourne, Florida. Constructed in 1983, the property boasts a prime location on US Highway 1, between Eau Gallie and Pineda Causeways, ensuring high visibility and accessibility. The building features a total of twelve units, with 3,064 square feet currently vacant, offering immediate potential for lease income. The zoning is C-1 Neighborhood Commercial, allowing for a variety of uses. The property's address is 3700 N Harbor City Blvd, Melbourne, FL 32935, and its APN is 27-37-05-03-0000k.0-0001.00 in Brevard County. This building presents a strong opportunity for investors seeking a well-located commercial property in a thriving Melbourne submarket. The existing structure provides a solid foundation for immediate income generation and future development potential. The property's strategic location on a major thoroughfare offers excellent exposure to a high volume of daily traffic. With its convenient access to major roadways and a diverse range of businesses, this property is well-positioned for long-term success. The vacant space presents an opportunity to customize the layout to suit a variety of tenants, maximizing rental income and return on investment. This is a rare opportunity to acquire a well-maintained commercial building in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $2,463,668

  6.5%

  $2,274,155

  7%

  $2,111,715

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,407,617

  Geo Method

  $1,407,617

• Alternative Use

  Use

  Valuation

  Residential

  $2,819,952

  Hospitality

  $2,583,061

  Educational

  $2,149,076

  Medical

  $2,222,986

  Retail

  $3,343,007

Location Insight

City

Melbourne

County

Brevard

State

Florida

Latitude

28.1675

Longitude

-80.6454

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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