2015 Waverly PlMelbourne, FL 32901

Property Details for 2015 Waverly Pl

Year built

1953

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.77 AC

Property size (Sq ft)

14,219 SF

Zone code

C3

Property type

Office properties

Property subtype

Office buildings

APN

28-37-03-82-00046.0-0006.00

APU

9223372036854775807

Description

This exceptional Class A mixed-use commercial property, located in the heart of Downtown Melbourne, FL, presents a rare investment opportunity. Spanning 13,765 square feet on a 0.77-acre lot, this single-story building underwent extensive renovations in 2016, boasting updated electrical systems, HVAC, hurricane-impact windows and doors, and premium finishes. The thoughtfully designed space includes separate showrooms, office areas, a fully equipped kitchen, and warehouse space with a convenient loading dock. Dual access from Waverly Place and Vernon Place provides ample parking, a significant advantage in the downtown area. The property's permitted zoning is Commercial/Residential/Office, offering flexibility for future use. Built in 1953, this meticulously maintained building offers a blend of historic charm and modern functionality. Its prime location within Melbourne's vibrant business district ensures strong rental income potential. This sale includes the real estate only, providing a chance to acquire a high-demand, income-generating asset in a thriving market. The property's size and features make it ideal for a variety of businesses seeking a prominent presence in Downtown Melbourne. The substantial lot size offers potential for future expansion or development. This is a truly unique opportunity to own a piece of Melbourne's thriving commercial landscape. The asking price is $3,999,900.

• CAP approach

  CAP return

  Valuation

  6%

  $3,907,953

  6.5%

  $3,607,341

  7%

  $3,349,674

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,232,810

  Geo Method

  $2,232,810

• Alternative Use

  Use

  Valuation

  Residential

  $4,473,103

  Hospitality

  $4,097,338

  Educational

  $3,408,937

  Medical

  $3,526,176

  Retail

  $5,302,792

Location Insight

City

Melbourne

County

Brevard

State

Florida

Latitude

28.0778

Longitude

-80.6073

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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