1811 Riverview DrMelbourne, FL 32901

Property Details for 1811 Riverview Dr

Year built

1891

Construction

WOOD

Lot size

0.51 AC

Property size (Sq ft)

2,264 SF

Zone code

C1

Property type

Office properties

Property subtype

Office buildings

APN

28-37-02-FC-00010.0-0005.00

APU

283702FC000100000500

Description

This exceptional 22,216 square foot commercial and residential land parcel is situated at 1811 Riverview Drive in historic downtown Melbourne, Florida (zip code 32901). Currently zoned C-1, allowing for mixed residential and commercial development, this property presents a unique investment opportunity. The site boasts approximately 165 feet of stunning waterfront access, offering breathtaking views of the Indian River, causeway, and barrier island. Existing approvals are in place for the construction of four townhouses, but the zoning allows for the potential development of up to six. A previously existing structure features a recently installed metal roof and other upgrades, strengthening its foundation for potential multi-level development, such as a restaurant or bar, capitalizing on the spectacular river views. The flexible zoning also opens possibilities for a variety of uses, including a multi-unit condominium (up to 50 units), office spaces, retail establishments, or a combination thereof. This prime location in the heart of historic downtown Melbourne offers unparalleled access to local amenities and attractions. Don't miss this rare chance to acquire a versatile waterfront property with significant development potential. The asking price is $1,949,900.

• CAP approach

  CAP return

  Valuation

  6%

  $622,238

  6.5%

  $574,374

  7%

  $533,347

• Comparable approach

  Method

  Valuation

  Relative Method

  $355,516

  Geo Method

  $355,516

• Alternative Use

  Use

  Valuation

  Residential

  $712,223

  Hospitality

  $652,393

  Educational

  $542,783

  Medical

  $561,450

  Retail

  $844,329

Location Insight

City

Melbourne

County

Brevard

State

Florida

Latitude

28.0816

Longitude

-80.6025

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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