1406 Highland AveMelbourne, FL 32935

Property Details for 1406 Highland Ave

Year built

1951

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.20 AC

Property size (Sq ft)

5,373 SF

Zone code

C3

Property type

Retail properties

Property subtype

Strip malls

APN

27-37-16-25-00023.0-0009.01

APU

9223372036854775807

Description

This exceptional 1,850 square foot retail space is ideally situated in the vibrant heart of EGAD, boasting a prime location amongst numerous restaurants, shops, and a bustling park area that hosts frequent events. The single-tenant property sits on a 0.2-acre lot (APN: 27-37-16-25-00023.0-0009.01) and offers a versatile layout perfect for a variety of uses. The space features a large, open storefront with ample windows providing excellent natural light and visibility. Inside, you'll find a couple of smaller private offices, a convenient kitchen/breakroom, and another spacious open area in the rear. A significant advantage is the private rear parking area accessible through a dedicated rear entrance, offering both convenience and exclusivity. This property presents a fantastic opportunity for a small restaurant, retail store, or office space seeking high visibility and a thriving location within a dynamic community. The property's versatile design and prime location make it an exceptional investment opportunity. The combination of high foot traffic, proximity to amenities, and the unique features of the space make this a truly remarkable offering.

• CAP approach

  CAP return

  Valuation

  6%

  $2,170,773

  6.5%

  $2,003,790

  7%

  $1,860,663

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,126,180

  Geo Method

  $2,126,180

• Alternative Use

  Use

  Valuation

  Residential

  $1,690,272

  Hospitality

  $1,548,280

  Educational

  $1,288,151

  Medical

  $1,332,452

  Retail

  $2,003,790

Location Insight

City

Melbourne

County

Brevard

State

Florida

Latitude

28.1298

Longitude

-80.6271

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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