2100 New Haven AveWest Melbourne, FL 32904

Property Details for 2100 New Haven Ave

Year built

1986

Construction

WOOD

Lot size

0.48 AC

Property size (Sq ft)

5,376 SF

Zone code

CP

Property type

Office properties

Property subtype

Office buildings

APN

28-37-06-08-0000A.0-0024.00

APU

283706080000A0002400

Description

This exceptional redevelopment opportunity encompasses a two-building office complex situated on a substantial 20,908.8 square foot lot at 2100 W New Haven Avenue, West Melbourne, FL 32904. The property, built in 1986, consists of five units spread across two, two-story buildings. Its strategic location offers unparalleled access to high traffic volume, boasting over 37,000 vehicles daily. This prime location is directly adjacent to a major power center in the Melbourne area, featuring national tenants such as Best Buy, Ross, PetSmart, and Barnes & Noble. The property's proximity to Melbourne Square Regional Mall further enhances its desirability. The surrounding area is characterized by significant residential growth and a robust economy, creating a strong foundation for future development. The offering also includes the adjacent property at 110 Bry-Lynn Drive, expanding the overall potential of this investment. This presents a unique chance to acquire a well-positioned asset with significant upside in a thriving Florida market. The asking price for this compelling redevelopment project is $1,290,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,477,541

  6.5%

  $1,363,884

  7%

  $1,266,464

• Comparable approach

  Method

  Valuation

  Relative Method

  $844,193

  Geo Method

  $844,193

• Alternative Use

  Use

  Valuation

  Residential

  $1,691,216

  Hospitality

  $1,549,145

  Educational

  $1,288,870

  Medical

  $1,333,196

  Retail

  $2,004,909

Location Insight

City

West Melbourne

County

Brevard

State

Florida

Latitude

28.0792

Longitude

-80.6559

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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