111 Scott StMelbourne, FL 32901

Property Details for 111 Scott St

Year built

1981

Construction

WOOD

Lot size

0.50 AC

Property size (Sq ft)

5,000 SF

Zone code

C1A

Property type

Office properties

Property subtype

Office buildings

APN

27-37-28-75-00000.0-0193.00

APU

9223372036854775807

Description

This exceptional commercial property, located at 111 Scott Street in Melbourne, Florida, presents a unique investment opportunity. The property encompasses a substantial one-acre lot, with an additional half-acre parcel adjacent, offering significant expansion possibilities. The main building, formerly a nursing school, is strategically positioned for a variety of uses, making it ideal for educational institutions, medical facilities, or professional offices. Its central location offers unparalleled convenience, with easy access to Melbourne International Airport, Route 1, and major hospitals. This prime real estate is situated within the dynamic Space Coast corridor, a region experiencing robust growth and high demand for commercial properties. The property's accessibility and development potential make it an attractive investment for those seeking a strong return in a thriving market. The existing structure provides a solid foundation for immediate use or redevelopment, catering to a wide range of business needs. This is a rare chance to acquire a significant commercial asset in a highly desirable location with exceptional growth prospects. The asking price is $1,500,000. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $1,374,201

  6.5%

  $1,268,493

  7%

  $1,177,887

• Comparable approach

  Method

  Valuation

  Relative Method

  $785,150

  Geo Method

  $785,150

• Alternative Use

  Use

  Valuation

  Residential

  $1,572,932

  Hospitality

  $1,440,797

  Educational

  $1,198,726

  Medical

  $1,239,952

  Retail

  $1,864,685

Location Insight

City

Melbourne

County

Brevard

State

Florida

Latitude

28.1059

Longitude

-80.6255

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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