1270 Wickham RdMelbourne, FL 32935

Property Details for 1270 Wickham Rd

Year built

1988

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

15.97 AC

Property size (Sq ft)

60,945 SF

Zone code

CP

Property type

Retail space

APN

27-36-24-00-00001.0-0000.00

APU

9223372036854775807

Description

This exceptional 3,500 square foot lot, located at 1270 N Wickham Rd in Melbourne, Florida (zip code 32935), presents a prime retail investment or development opportunity. Situated within the thriving Melbourne Village Plaza, this Class B outparcel boasts a permitted zoning of CP-Commercial Parkway, allowing for a variety of commercial uses. The existing zoning permits the construction of either a 4,000 square foot freestanding building or a 3,500 square foot building incorporating a drive-thru. This versatile space is ideal for a range of businesses seeking high visibility and convenient access. The property's strategic location within Melbourne Village Plaza, anchored by established tenants such as Staples, Old Time Pottery, Dollar Tree, and Anytime Fitness, ensures significant foot traffic and brand recognition. The total square footage available is 15,881 square feet, offering ample space for development. Built in 1988, this property presents a chance to capitalize on a well-established location with significant growth potential. The lease type is NNN, offering a streamlined and efficient ownership structure. This is a rare opportunity to acquire a highly desirable retail property in a bustling Brevard County location. Don't miss this chance to secure a prime piece of Melbourne real estate.

• CAP approach

  CAP return

  Valuation

  6%

  $24,622,700

  6.5%

  $22,728,646

  7%

  $21,105,172

• Comparable approach

  Method

  Valuation

  Relative Method

  $24,116,888

  Geo Method

  $24,116,888

• Alternative Use

  Use

  Valuation

  Residential

  $19,172,464

  Hospitality

  $17,561,874

  Educational

  $14,611,272

  Medical

  $15,113,777

  Retail

  $22,728,646

Location Insight

City

Melbourne

County

Brevard

State

Florida

Latitude

28.1269

Longitude

-80.6737

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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