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21149945
21162657

620 E New Haven Ave, Melbourne, FL 32901

CH
FL 3296024
Cassandra Hartford
Listed by Cassandra Hartford
$1,550,000
512 days on market
Updated 3 days ago

620 E New Haven

Details
Property Type Retail, Multifamily (+1)
Sub Type Storefront, Apartment Building
Square Footage 4,443
Net Rentable (SqFt) 4,002
Units 7
Cap Rate 4.38%
NOI $76,600
Occupancy 100%
Tenancy Multi
Brand/Tenant Wallby
Lease Type NNN
Remaining Term 3
Pro-Forma Cap Rate 5.14%
Pro-Forma NOI $89,950
Class B
Year Built 1954
Year Renovated 2022
Buildings 1
Stories 2
Acreage 0.770
Zoning C3 - Mixed use
Investment Type Core+
Sale Condition 1031 exchange

7 Unit in Downtown Melbourne // 2 Retail | 5 Residential

Marketing description

Historic downtown melbourne is a thriving destination, with an impressive array of 288 businesses within a one-mile radius. The area features a diverse mix of 45 dining establishments, 47 shopping venues, 9 unique experiences, and numerous professional offices. The district's cultural appeal is enhanced by 18 captivating murals, 6 art galleries, and 2 theaters, creating an immersive and culturally rich ambiance that draws customers from throughout brevard county. The property benefits from strong demographics, with a population of 169,000 residents within a 15-minute drive. The average household income in the area is $85,883, projected to reach $99,247 by 2028 according to us census - esri forecasts. This demographic profile attracts a diverse audience, from young and well-compensated 'knowledge-economy' professionals and families to affluent retirees, ensuring a consistent flow of potential customers and tenants.

Investment highlights


Listing Contacts

CH
FL 3296024
Cassandra Hartford
Listed by Cassandra Hartford

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$76,600.00
$6,383.33/mo

Valuation Metrics

0
DSCR
4.94%
Cap Rate
4.94%
ROI

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Additional Information

Name
Cassandra Hartford
License
3296024
Brokerage
Reach Commercial
Title
Owners
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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