2133 Sarno RdMelbourne, FL 32935

Property Details for 2133 Sarno Rd

Year built

1958

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.30 AC

Property size (Sq ft)

4,811 SF

Property type

Office properties

Property subtype

Office buildings

APN

27-37-19-78-0000C.0-0006.00

APU

273719780000C0000600

Description

This exceptional Melbourne, Florida, retail investment opportunity presents a 4,811 square foot, single-story, multi-tenant storefront building situated on Sarno Road. The property, built in 1958 and renovated in 2016, boasts 16 parking spaces and features four tenants under a Net Lease agreement with a remaining term of three years and 3% annual rent bumps. The building offers 3,922 square feet of net rentable space, currently at 50% occupancy, with an asking price of $700,000, representing a compelling 8.00% cap rate and a price per square foot of $145.50. The property is zoned C-2 and sits on a 4,811 square foot lot. Recent improvements include a fresh coat of paint, updated plumbing, and a restriped parking lot. Its strategic location on a high-traffic thoroughfare, across from a shopping plaza and just 15 minutes from the ocean, ensures high visibility and accessibility. The property's versatility makes it suitable for a variety of retail or office uses, capitalizing on the approximately 30,000 cars passing daily. This is a rare opportunity to acquire a well-maintained, income-producing property in a thriving Melbourne location. The property's strong fundamentals and recent improvements make it an attractive investment for discerning buyers.

• CAP approach

  CAP return

  Valuation

  6%

  $1,322,256

  6.5%

  $1,220,544

  7%

  $1,133,362

• Comparable approach

  Method

  Valuation

  Relative Method

  $755,471

  Geo Method

  $755,471

• Alternative Use

  Use

  Valuation

  Residential

  $1,513,475

  Hospitality

  $1,386,335

  Educational

  $1,153,414

  Medical

  $1,193,082

  Retail

  $1,794,200

Location Insight

City

Melbourne

County

Brevard

State

Florida

Latitude

28.1214

Longitude

-80.6563

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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