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31226578
31226603

804 E Hibiscus Blvd, Melbourne, FL 32901

JD
NC 312456, SC 133256
Dash Commercial Real Estate Advisors
YK
NC 425632
Listed by Dash Commercial Real Estate Advisors
Unpriced
82 days on market
Updated 30 days ago
Under Contract

Ocean-Side Value-Add Opportunity

Details
Property Type Retail
Sub Type Storefront
Square Footage 8,300
Occupancy 50%
Tenancy Multi
Lease Type Absolute NNN
Remaining Term 1
Year Built 1944
Buildings 1
Stories 2
Acreage 0.540
Zoning M1
Investment Type Value Add

High-Visibility Location Adjacent to U.S. Route 1

Investment highlights

  • Dual Street Frontage: True Corner Lot: 144 FT on E Hibiscus Blvd and 111 FT on Morningside Dr. Dual access points from two streets. The corner geometry that franchise site selectors require for drive-through automotive service operations.

  • Priced at Land Value: $32/SF: At $760,000 on 0.54 acres, the site is priced well below purpose-built automotive pads in the Melbourne submarket.

  • M1 Zoning: Automotive Uses Permitted by Right: M1 zoning permits automotive service, vehicle repair, quick lube, car wash, and light industrial uses.

  • High-Visibility Location Adjacent to U.S. Route 1: U.S. Route 1 carries 38,500 VPD immediately adjacent to the site. E Hibiscus Blvd carries 12,600 VPD at the corner.

  • Proven Automotive Market: No direct quick lube operator exists on this specific corridor today.

  • Dual Development Path: Adaptive Reuse or Ground-Up: The existing masonry structure offers potential for adaptive reuse conversion with interior demolition, bay door cuts, and above-ground lift installation or a a full demo and purpose-built ground-up facility.

  • Growing Space Coast Market: 3-mile population of 46,000 growing at 2.1% annually. Median household income of $74,563. Aerospace workforce anchored by L3Harris, Northrop Grumman, Collins Aerospace, and Embraer — high-income, vehicle-dependent households.

  • Recent Capital Improvements Reduce Carry Cost: Roof (6 years old), HVAC (5 years old), and exterior stucco recently updated. Minimal carrying costs while the buyer completes planning and entitlements.

Listing Contacts

JD
NC 312456, SC 133256
Dash Commercial Real Estate Advisors
YK
NC 425632
Listed by Dash Commercial Real Estate Advisors

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