109 New Haven AveMelbourne, FL 32901

Property Details for 109 New Haven Ave

Year built

1926

Construction

WOOD

Lot size

0.46 AC

Property size (Sq ft)

4,347 SF

Zone code

CC1

Property type

Mixed-use properties

Property subtype

Other industrial properties

APN

28-37-03-55-00002.0-0002.00

APU

9223372036854775807

Description

This exceptional investment opportunity presents a 19-unit self-storage facility located at 109 E New Haven Ave, Melbourne, FL 32901, in Brevard County. The property, built in 2008 and renovated the same year, comprises three buildings totaling 6,800 net rentable square feet on a 20,038 square foot lot. The facility boasts a current NOI of $65,221, with a pro-forma NOI projected at $105,225, representing a 4.35% cap rate and a pro-forma cap rate of 7.02%. Currently 100% leased with a waiting list, this Class B property offers significant upside potential. The existing structures are durable, constructed of concrete block with metal roofs. Further expansion opportunities exist, including approximately 1,000 square feet of office space and two additional 432 square foot spaces available for build-out, potentially generating an additional $2,500-$3,500 in monthly rental income. The property is zoned C-1 and benefits from its prime location in Melbourne, minutes from downtown and the Florida Institute of Technology, ensuring strong demand. This turnkey operation presents a rare chance to acquire a profitable, established business with substantial growth potential. The asking price is $1,500,000. APN: 28-37-03-55-00002.0-0002.00.

• CAP approach

  CAP return

  Valuation

  6%

  $1,481,466

  6.5%

  $1,367,507

  7%

  $1,269,828

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,058,045

  Geo Method

  $1,058,045

• Alternative Use

  Use

  Valuation

  Residential

  $1,367,507

  Hospitality

  $1,252,629

  Educational

  $1,042,172

  Medical

  $1,078,014

  Retail

  $1,621,157

Location Insight

City

Melbourne

County

Brevard

State

Florida

Latitude

28.0782

Longitude

-80.619

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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