691 Washburn RdMelbourne, FL 32934

Property Details for 691 Washburn Rd

Year built

1984

Construction

FRAME

Lot size

1.00 AC

Property size (Sq ft)

3,200 SF

Zone code

M1

Property type

Retail properties

Property subtype

Auto shops

APN

27-36-24-50-00000.0-0009.00

APU

9223372036854775807

Description

This exceptional investment opportunity presents two Melbourne, Florida warehouses totaling 10,700 square feet on a 43,560 square foot lot. Building 691, a 3,200 square foot structure (240 sq ft office, 2960 sq ft warehouse), is currently 30% occupied by a tenant, boasting 14-16 foot clear height ceilings and four 12x12 foot grade-level doors. Building 697, a newly constructed (2023) 7,500 square foot metal warehouse, is currently vacant and features 9-14 foot clear height ceilings and an additional four 12x12 foot grade-level doors. Both buildings share 30 paved, striped, and lighted parking spaces, City water/sewer, and 1-phase 200-amp 240v FPL electric. The property is zoned M-1 (City of Melbourne Light Industrial), permitting warehousing, automotive uses, light assembly/manufacturing, and more. Strategically located near three I-95 interchanges and major employers including Melbourne International Airport, Northrop Grumman, and Amazon, this property offers significant potential. The asking price is $1,895,000, and seller financing is available. The property features a gross lease type and is classified as Class B. APN: 27-36-24-50-*-9.

• CAP approach

  CAP return

  Valuation

  6%

  $1,292,848

  6.5%

  $1,193,398

  7%

  $1,108,156

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,266,290

  Geo Method

  $1,266,290

• Alternative Use

  Use

  Valuation

  Residential

  $1,006,676

  Hospitality

  $922,110

  Educational

  $767,185

  Medical

  $793,569

  Retail

  $1,193,398

Location Insight

City

Melbourne

County

Brevard

State

Florida

Latitude

28.1176

Longitude

-80.6859

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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