308 Orange StMelbourne Beach, FL 32951

Property Details for 308 Orange St

Year built

1973

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.47 AC

Property size (Sq ft)

3,676 SF

Zone code

2RS

Property type

Office properties

Property subtype

Office buildings

APN

28-38-08-52-0000C.0-0001.00

APU

283808520000C0000100

Description

This exceptional commercial property, located at 308 Orange Street in Melbourne Beach, Florida (zip code 32951), presents a unique investment opportunity. Situated on a substantial 20,473.2 square foot lot – approximately half an acre – this property enjoys a prime corner location just one block from both the Atlantic Ocean and the Indian River. The single-story building, constructed in 1973, features a newly installed roof (2017), minimizing immediate maintenance concerns. Currently zoned for retail use, this versatile property offers significant potential for redevelopment or repurposing. The expansive lot size allows for various development options, catering to a wide range of commercial ventures. Its proximity to the ocean and the Indian River provides unparalleled access to recreational activities and stunning natural beauty, making it an attractive location for businesses and customers alike. The asking price for this exceptional property is $750,000. This is a rare chance to acquire a highly desirable commercial property in a sought-after coastal location. The property's location, combined with its size and recent roof replacement, makes it an ideal investment for those seeking a high-return opportunity in a thriving Florida market.

• CAP approach

  CAP return

  Valuation

  6%

  $1,010,313

  6.5%

  $932,596

  7%

  $865,982

• Comparable approach

  Method

  Valuation

  Relative Method

  $577,242

  Geo Method

  $577,242

• Alternative Use

  Use

  Valuation

  Residential

  $1,156,419

  Hospitality

  $1,059,274

  Educational

  $881,303

  Medical

  $911,613

  Retail

  $1,370,916

Location Insight

City

Melbourne Beach

County

Brevard

State

Florida

Latitude

28.0601

Longitude

-80.5601

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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