1600 Wickham RdMelbourne, FL 32904

Property Details for 1600 Wickham Rd

Year built

1984

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.92 AC

Property size (Sq ft)

1,500 SF

Zone code

BU-1

Property type

Grocery and convenience stores

APN

27-36-13-00-00750.0-0000.00

APU

9223372036854775807

Description

This exceptional West Melbourne retail property, located at 1600 S Wickham Road, 32904, presents a unique investment opportunity. The single-story, 1,699 sq ft building sits on a 0.44-acre lot (17,859.6 sq ft), built in 1985. Currently operating as a charming Italian restaurant, the property features a recently remodeled interior with elegant marble countertop tables, new AC units, and a new walk-in cooler. An additional 0.33-acre parcel is available for expansion, offering potential for increased parking or other business enhancements. The inviting space also includes a 164 sq ft open porch, ideal for outdoor dining. A robust security system is in place. The current tenant pays a base rent of $3,000 plus NNN. This property is situated in a high-traffic area of West Melbourne, Florida, making it an attractive investment for both established and aspiring business owners. The asking price is $1,000,000.

• CAP approach

  CAP return

  Valuation

  6%

  $454,906

  6.5%

  $419,913

  7%

  $389,919

• Comparable approach

  Method

  Valuation

  Relative Method

  $244,967

  Geo Method

  $244,967

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $800,201

  Mixed-Use / Specialty

  $425,960

  Hospitality / Lodging

  $322,336

  Office

  $431,288

  Institutional / Educational

  $445,523

  Residential Income

  $521,262

  Multifamily

  $583,349

  Automotive / Energy

  $381,877

  Parking / Income-Based Land

  $124,327

  Restaurant / Food Service

  $237,646

  Healthcare / Senior Housing

  $429,078

Location Insight

City

Melbourne

County

Brevard

State

Florida

Latitude

28.1332

Longitude

-80.6722

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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