604 New Haven AveMelbourne, FL 32901

Property Details for 604 New Haven Ave

Year built

1954

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.15 AC

Property size (Sq ft)

4,070 SF

Zone code

C3

Property type

Retail space

APN

28-37-03-FC-00040.0-0014.00

APU

283703FC000400001400

Description

This exceptional mixed-use property, located at 604 E New Haven Avenue in the heart of Downtown Melbourne, Florida (zip code 32901), presents a unique investment opportunity. Priced at $884,500, this offering is situated on a 6,534 sq ft lot and comprises two buildings, each with separate entrances, ideal for multi-tenant occupancy. Built in 1954, the property boasts a total of approximately 4070 square feet of space, constructed of block. Currently operating as an escape room, the versatile layout includes nine offices, a spacious reception area, and ample storage, making it suitable for a variety of uses including retail, professional services, medical practices, or even a bar/restaurant. The property also features a side drive, providing convenient on-site parking or the potential for an outdoor seating area. Owner financing is available with a 30% down payment, a 5-year balloon mortgage, and a 7% interest rate. This presents a chance to own a thriving downtown Melbourne business without the complexities of traditional mortgage qualification. Enjoy the vibrant atmosphere of Downtown Melbourne, with its diverse restaurants, bars, and events, all within easy walking distance. The property's current tenant is happy and the business is established. Serious inquiries only.

• CAP approach

  CAP return

  Valuation

  6%

  $1,644,341

  6.5%

  $1,517,854

  7%

  $1,409,436

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,610,562

  Geo Method

  $1,610,562

• Alternative Use

  Use

  Valuation

  Residential

  $1,280,366

  Hospitality

  $1,172,809

  Educational

  $975,763

  Medical

  $1,009,321

  Retail

  $1,517,854

Location Insight

City

Melbourne

County

Brevard

State

Florida

Latitude

28.0788

Longitude

-80.611

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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