71 Sunset DrWest Melbourne, FL 32904

Property Details for 71 Sunset Dr

Year built

1948

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.84 AC

Property size (Sq ft)

8,414 SF

Zone code

M1

Property type

Mixed-use properties

Property subtype

Other industrial properties

APN

28-37-05-77-00005.0-0018.00

APU

9223372036854775807

Description

This exceptional investment opportunity presents a 9,418 square foot industrial complex situated on a 0.58-acre lot in West Melbourne, Florida. The property comprises three buildings, totaling 9,418 square feet, with a mix of block and metal construction. Built in 1948 and renovated in 2018, the complex boasts 12 grade-level overhead doors, concrete flooring throughout, and a fully fenced and gated perimeter. Ceiling heights range from 11 to 14.5 feet. Currently 100% occupied with month-to-month tenants, generating a monthly income of $5,500. The property features City of West Melbourne Integrated Business (IB) zoning, allowing for warehousing, storage yards, automotive uses, light manufacturing, and more. The convenient location offers easy access to Interstate 95, US1, beaches, Melbourne International Airport, Downtown Melbourne, and Melbourne Square Mall. A bonus 2,232 square foot, three-bedroom, one-bathroom apartment is located upstairs, adding to the overall value. Seller financing may be considered subject to contract terms and buyer credit. Utilities include city water/sewer and FPL electric. The property's APN is 28-37-05-77-5-18.

• CAP approach

  CAP return

  Valuation

  6%

  $2,867,507

  6.5%

  $2,646,929

  7%

  $2,457,863

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,047,938

  Geo Method

  $2,047,938

• Alternative Use

  Use

  Valuation

  Residential

  $2,646,929

  Hospitality

  $2,424,573

  Educational

  $2,017,216

  Medical

  $2,086,592

  Retail

  $3,137,892

Location Insight

City

West Melbourne

County

Brevard

State

Florida

Latitude

28.0772

Longitude

-80.6456

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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