1024 Harbor City BlvdMelbourne, FL 32901

Property Details for 1024 Harbor City Blvd

Year built

1958

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.02 AC

Property size (Sq ft)

17,187 SF

Zone code

C2

Property type

Strip malls

Property subtype

Neighborhood centers

APN

27-37-34-EP-0000A.0-0002.00

APU

273734EP0000A0000200

Description

This renovated 16,270 square foot shopping center/storefront in Melbourne, Florida, presents a compelling investment opportunity. Located on US-1 (S Harbor City Blvd), just one mile north of the Melbourne Causeway Bridge, this property boasts high visibility and strong traffic counts. Built in 1958 and extensively renovated in 2023, the single-story building sits on a 1.02-acre lot (APN: 27-37-34-EP-A-2) and is zoned C-2. The property offers a mix of open floor plans, ideal for various retail uses, and includes convenient rear storage areas with roll-up doors for efficient loading and unloading. Its strategic location near the Melbourne-Orlando International Airport, Holmes Regional Medical Center, numerous auto dealerships, and the vibrant Downtown Melbourne area ensures a strong tenant base and high potential for return on investment. The asking price is $2,300,000 ($141.36/sq ft). This property is suitable for an owner-user seeking approximately 9,975 square feet with additional income-generating rental spaces, or for an investor looking to add value through new tenant acquisition. Don't miss this chance to acquire a versatile property in a thriving area.

• CAP approach

  CAP return

  Valuation

  6%

  $6,943,808

  6.5%

  $6,409,668

  7%

  $5,951,835

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,801,164

  Geo Method

  $6,801,164

• Alternative Use

  Use

  Valuation

  Residential

  $5,406,795

  Hospitality

  $4,952,595

  Educational

  $4,120,501

  Medical

  $4,262,212

  Retail

  $6,409,668

Location Insight

City

Melbourne

County

Brevard

State

Florida

Latitude

28.093

Longitude

-80.6103

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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