$375,000
Melbourne, FL 32901
MLS# 1067447
3 baths
1 / 10
Property Description
Excellent opportunity to purchase the ground lease for a 5,550 Sf multi-unit building. 99-year ground lease commenced 7/1/1965 and expires 6/30/2064. Current ground lease rent is $18,540.36 for 2026. Next increase is 1/1/2030 (CPI). Unit 437 is +/- 1,000 SF. Formerly occupied by a hair salon. Interior has tile flooring and drop ceiling throughout. Unit 439 is +/- 4,550 SF. Interior is est. 50% showroom + 50% storage. Clear height is 12' 8'' +/-. There is one 10' x 10' +/- grade level door. Utilities include City water/sewer (common), and FPL electric (separately metered). Total of 8 asphalt parking spaces. Property is strategically positioned directly on Babcock Street which is an immediate connector between US1 and Nasa Boulevard. Surrounding employers include Leonardo DRS, the Melbourne International Airport, and the Melbourne Courthouse to name a few.
Details
Maps
Location, Tax, and Legal
Tax Account: 2728287
Parcel Number: 27-37-27-51-00000.0-0121.00
General County Location: South
Tax Annual Amount: 6637.25
Tax Year: 2025
Tax Legal Description: INDIAN RIVER BLUFF AMENDED PLAT NO 2 ALL OF LOT 121 & SWLY 30 FT OF LOTS 118,119,120
Directions: Starting on Nasa Boulevard turn north onto Babcock Street. Continue north past the train tracks. Property is located at the southeast corner of Babcock Street x Lagoon Avenue.
General Property Information
Number Of Units Total: 2
Stories Total: 1
Building Area Total: 5550
Lot Size Acres: 0.43
Association YN: No
Building Name: Ground Lease For Sale
Water Body Access YN: No
Waterfront YN: No
Land Lease YN: Yes
List Price/SqFt: 67.57
Bathrooms Total: 3
Year Built: 1965
Remarks and Miscellaneous
Public Remarks: Excellent opportunity to purchase the ground lease for a 5,550 Sf multi-unit building. 99-year ground lease commenced 7/1/1965 and expires 6/30/2064. Current ground lease rent is $18,540.36 for 2026. Next increase is 1/1/2030 (CPI). Unit 437 is +/- 1,000 SF. Formerly occupied by a hair salon. Interior has tile flooring and drop ceiling throughout. Unit 439 is +/- 4,550 SF. Interior is est. 50% showroom + 50% storage. Clear height is 12' 8'' +/-. There is one 10' x 10' +/- grade level door. Utilities include City water/sewer (common), and FPL electric (separately metered). Total of 8 asphalt parking spaces. Property is strategically positioned directly on Babcock Street which is an immediate connector between US1 and Nasa Boulevard. Surrounding employers include Leonardo DRS, the Melbourne International Airport, and the Melbourne Courthouse to name a few.
Construction Materials
Block: 1
Concrete: 1
Flooring
Concrete: 1
Tile: 1
Listing Terms
Cash: 1
Conventional: 1
Lot Features
Corner Lot: 1
Parking Features
Parking Lot: 1
Sewer
Public Sewer: 1
Unit 1 Details
Unit ID: 437
Annual Rent: 0
Unit SqFt: 1000
# Units (This Type): 1
Baths Total: 2
Furnished: Unfurnished
Unit Remarks: Former Hair Salon
Unit 2 Details
Unit ID: 439
Annual Rent: 0
Unit SqFt: 4550
# Units (This Type): 1
Baths Total: 1
Furnished: Unfurnished
Unit Remarks: 50% Showroom + 50% Storage
Water Source
Public: 1
Showing Requirements
Appointment Only: 1
Call Listing Agent: 1
Listing Agent Must Accompany: 1
Building Features
# Overhead Doors: 1
Overhead Door Height: 10
Private Restroom: 1
Showroom: 1
Storage: 1
Ceiling Type
Acoustic: 1
Exposed: 1
Location
Central Business District: 1
Sale Includes
Building & Land: 1
Contract Information
Current Price: $375,000
Original List Price: 375000
List Price: $375,000
Status: Active
Listing Contract Date: 2026-01-23
Property Sub Type: Retail
Location Tax and Legal
Street Number: 439
Street Direction Prefix: S
Street Name: Babcock
Street Suffix: Street
County: Brevard
State: FL
Postal Code: 32901
MLS Area Major: 330 - Melbourne - Central
Subdivision Name: Indian River Bluff Amended Plat No 2
Status Change Information
Major Change Timestamp: 2026-01-24T02:04:40Z
Major Change Type: New Listing
Status Change Timestamp: 2026-01-23
Property Features
Building Features: Private Restroom; Showroom; Storage
Ceiling Type: Acoustic; Exposed
Construction Materials: Block; Concrete
Flooring: Concrete; Tile
Listing Terms: Cash; Conventional
Location: Central Business District
Lot Features: Corner Lot
Parking Features: Parking Lot
Sale Includes: Building & Land
Sewer: Public Sewer
Showing Requirements: Appointment Only; Call Listing Agent; Listing Agent Must Accompany
Water Source: Public
Listing Office: The Ullian Realty Corporation
Last Updated: January - 24 - 2026
Information is deemed to be reliable, but is not guaranteed.