405 New Haven AveMelbourne, FL 32901

Property Details for 405 New Haven Ave

Year built

1958

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.54 AC

Property size (Sq ft)

8,428 SF

Zone code

C1

Property type

Retail properties

Property subtype

Strip malls

APN

28-37-03-53-00000.0-0011.00

APU

9223372036854775807

Description

This exceptional 0.54-acre commercial property at 405 E New Haven Avenue in downtown Melbourne offers a unique investment opportunity. Currently occupied by a fully equipped 1,200 square foot barber shop, the single-tenant building boasts 10-foot ceilings, polished terrazzo floors, and prominent pylon signage. The shop features four barber stations (with room for eight), a wash sink, two bathrooms, a display case, built-in cabinetry with an air compressor, and is situated next to a long-established hair salon. The property's convenient location places it within easy walking distance of numerous restaurants, shops, and entertainment venues, ensuring high visibility and foot traffic. The lease includes all CAM charges, water, trash removal, parking, sign installation, and sales tax, simplifying operations for the tenant. The landlord is on-site, and the building benefits from professional maintenance. This versatile space is ideal for a variety of commercial uses and is available for lease starting June 1st. The property's single-story design and ample parking add to its appeal. The parcel is identified by APN 28-37-03-53-00000.0-0011.00. Don't miss this chance to own a piece of thriving downtown Melbourne.

• CAP approach

  CAP return

  Valuation

  6%

  $3,405,039

  6.5%

  $3,143,113

  7%

  $2,918,605

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,335,091

  Geo Method

  $3,335,091

• Alternative Use

  Use

  Valuation

  Residential

  $2,651,334

  Hospitality

  $2,428,607

  Educational

  $2,020,573

  Medical

  $2,090,063

  Retail

  $3,143,113

Location Insight

City

Melbourne

County

Brevard

State

Florida

Latitude

28.0783

Longitude

-80.6143

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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