529 New Haven AveMelbourne, FL 32901

Property Details for 529 New Haven Ave

Year built

1926

Construction

WOOD

Lot size

0.17 AC

Property size (Sq ft)

1,854 SF

Zone code

C3

Property type

Turn key restaurants

APN

28-37-03-76-00001.0-0014.00

APU

9223372036854775807

Description

This exceptional 1,426-square-foot restaurant is located at 529 E New Haven Avenue in the heart of historic Downtown Melbourne, Florida (zip code 32901). Built in 1926 and fully remodeled, this property boasts a Florida Keys-inspired design, blending historical character with modern sophistication. The interior features coastal colors and tropical touches, creating a relaxed and elegant atmosphere. The restaurant includes a state-of-the-art kitchen and bar equipped with the latest equipment, ensuring efficient and high-quality food and beverage service. A spacious outdoor dining area provides ample seating for guests to enjoy the Florida climate. The property is zoned C3 and includes a liquor license, enhancing its operational capabilities and appeal. Its prime location in Downtown Melbourne offers high visibility and foot traffic, situated within walking distance of the Hotel Melby (a 156-room hotel) and the Highline Apartment complex (175 units), ensuring a steady stream of potential customers. The asking price is $1,299,900, translating to $911.57 per square foot. This turnkey opportunity presents a unique blend of historical significance, modern amenities, and a highly desirable location, making it an attractive investment in the thriving Melbourne, Florida market. The property's net rentable square footage is 1,426 square feet.

• CAP approach

  CAP return

  Valuation

  6%

  $749,044

  6.5%

  $691,425

  7%

  $642,038

• Comparable approach

  Method

  Valuation

  Relative Method

  $733,657

  Geo Method

  $733,657

• Alternative Use

  Use

  Valuation

  Residential

  $583,243

  Hospitality

  $534,248

  Educational

  $444,488

  Medical

  $459,774

  Retail

  $691,425

Location Insight

City

Melbourne

County

Brevard

State

Florida

Latitude

28.0782

Longitude

-80.6117

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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