Miramar Plaza
Miramar Plaza | One block from Melbourne Beach | 5,723 SqFt
Marketing description
Marcus & Millichap is pleased to present 105–125 South Miramar Avenue, an exceptional owner-user opportunity located in the heart of Indialantic, Florida. Positioned along the iconic A1A corridor and just steps from the beach, this property represents truly irreplaceable coastal real estate within a thriving and affluent market.
The two-story building offers 5,723 square feet of base area, comprised of six ground-floor retail suites and a second-floor residential unit, along with an additional 538 square feet of porch space. Currently operated on month-to-month leases, the property provides an owner-user the rare flexibility to occupy immediately or introduce their own concept, while capitalizing on the property’s unique location.
Indialantic is experiencing strong growth, with a 10% population increase projected over the next five years and multiple nearby redevelopments fueling demand. The immediate trade area is highly affluent, boasting a median household income of $102,000 within one mile.
This offering presents a unique chance to acquire a versatile mixed-use property with both retail and residential potential, ideally suited for an owner-user looking to create value in one of Brevard County’s most desirable beachside markets.
Investment highlights
•Situated in a Booming Market- Multiple Recent Redevelopments Surrounding the Property and 10% Population Increase Projected Over the Next 5-years
•Affluent Market- Median Household Income is $102,000 Within a 1-Mile Radius
•Irreplaceable Real Estate- Rare Opportunity to Acquire a Commercial Asset Just Steps From the Beach
•Multiple use Cases- 2nd Story Residential Unit Along With Six Suites Of Retail On The First Floor
•Well positioned For an Owner-User to get Creative and Put Their own Concept Here Given the Month-To-Month Lease Structure and Unique Location
• Exterior Renovation Completed (Aug 2025) – Fresh paint enhances curb appeal and reduces near-term maintenance costs.
• Parking Lot Upgrades (Sept 2025) – Re-sealed and re-striped for improved aesthetics and functionality.
• Ample Parking – 11 on-site spaces plus direct access to public beach parking for additional capacity.
• Premium Ocean Views – 538 square feet second-story balcony overlooking the Atlantic.
• Two-Story Structure – Flexible 2nd Floor layout for retail, dining, residential accommodations or mixed-use opportunities.
•Second Floor Residential Potential – Fully equipped kitchen with a 2-bedroom, 1-bath layout, ideal for short-term rentals, owner’s suite, or additional income stream.
• Average Retail Rents in the Submarket are $21/SF NNN
•Small Bay Retail Units Allow for Higher Rental Rates per SF (all Retail Bays Between 450-915 square feet)
•Apartment/Office Space on the 2nd Floor Could Command a Premium Rental Rate (Estimated $2,500-$3,500/Month)
•Immediate Demographic Heavily Supports Discretionary Retail Spending with Median Household Income over $100,000/Year in a One-Mile Radius
•Given Indialantic’s Small Land Area and Scarce Commercially Zoned Parcels, there is Little Opportunity for new Retail Construction. This Supply Constraint Will Lead to Upward Rental Pressure on Existing Centers in a Market Projected to Grow an Additional 10% in Population over the Next 5 Years.
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