Price: $2,900,000
5120 N Highway 1Melbourne, FL 32940
Click Image to View More
0
Square Foot
5,400
Total Sq. Ft.
N/A
Bedrooms
4.00
Full Baths
N/A
½ Baths
Yes
Waterfront
2014
Year Built
Property Description:
Unique Opportunity to Own Prime Commercial Real Estate in Melbourne! 4.64 Acres of Direct US 1 with 300 ft. of Indian River Front Frontage (can be used for residential); can be broken up into three parcels total. One of the three potential parcels has a beautiful concrete block 5400 square foot tile roof building and is currently fully occupied with long term leases in place. The 5400 Sq ft. building is being valued at 1.7 million with the additional 3.39 acres being valued at 1.2 million. The CAP RATE for the 5400 Sqft building is 7%. The building is currently fully occupied (3600 sq ft occupied by the owner with long term plans to stay) with 5 year leases in place for both tenants. Build on the other two parcels as you collect income from this beautiful building! Phase 1 Environmental Completed Dec. 2025 with approval for 33, 000 square foot building. A special height variance is approved by the town of Palm Shores for this project. Will provide documentation upon request.
Exterior Features
N/A
Interior Features:
N/A
Equipment / Appliances:
N/A
Utilities:
N/A
Property Details
Street Name:
County:
Brevard
Listing Status:
Active
Tax Year:
2025
Waterfront:
Yes
Water Type:
Zip Code:
Subdivision:
Honeybrook Plantation
Tax Amount:
$15,772
HOA Dues:
$0.00
5120 N Highway 1 Melbourne, FL 32940
This listing is courtesy of CENTURY 21 Baytree Realty.
Real Estate and Luxury homes in Melbourne Beach, Merritt Island, Cocoa Beach, Lansing Island, Tortoise Island, Vero Beach, Barefoot Bay, Cape Canaveral, Cocoa, Grant Valkaria, Indialantic, Indian Harbour Beach, Malabar, Melbourne, Palm Bay, Rockledge, Satellite Beach, Titusville, West Melbourne and surrounding areas in Brevard and Central Florida.
Property Listing Data contained within this site is the property of Brevard MLS and is provided for consumers looking to purchase real estate. Any other use is prohibited. We are not responsible for errors and omissions on this web site. All information contained herein should be deemed reliable but not guaranteed, all representations are approximate, and individual verification is recommended.
Share: