1550 Old Colonial WayMelbourne, FL 32935
- Retail properties
- 2,000 SF
Property Details for 1550 Old Colonial Way
- Year built
- 1973
- Construction
- FRAME
- Lot size
- 0.45 AC
- Property size (Sq ft)
- 2,000 SF
- Zone code
- CC1
- Property type
- Retail properties
- Property subtype
- Auto shops
- APN
- 27-37-05-03-0000F.0-0011.00
- APU
- 273705030000F0001100
Description
This exceptional 2,000-square-foot industrial warehouse, located at 1550 Old Colonial Way in Melbourne, Florida (32935), presents a compelling investment opportunity. Built in 1973, this metal building boasts an 18-foot ceiling height, providing ample vertical space for various uses. The property sits on a 0.45-acre lot and features three bay doors, enhancing accessibility and functionality. Its strategic location offers convenient access, situated centrally between the Pineda Causeway and the 192 Causeway, with frontage on US 1. Currently utilized as an automotive shop, the building is in good condition and equipped with city utilities. The property is being sold as-is, with the building only available for purchase. Note that the property is currently rented on a month-to-month basis. The annual property taxes are approximately $2,604. The parcel ID is 27-37-05-03-F-11. Construction details include an enamel steel exterior wall, a metal frame, and an enamel metal roof supported by a bar joist rigid roof structure. This property offers significant potential for a variety of businesses seeking a well-located, functional warehouse space.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $808,030
- 6.5%
- $745,874
- 7%
- $692,597
-
Comparable approach
- Method
- Valuation
- Relative Method
- $791,431
- Geo Method
- $791,431
-
Alternative Use
- Use
- Valuation
- Residential
- $629,173
- Hospitality
- $576,319
- Educational
- $479,490
- Medical
- $495,981
- Retail
- $745,874
Location Insight
- City
- Melbourne
- County
- Brevard
- State
- Florida
- Latitude
- 28.168
- Longitude
- -80.6458
- CBSA code
- 37340
- CBSA name
- PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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