$2,900,000
Melbourne, FL 32940
MLS# 1085710
5 baths | 5400 sqft
1 / 9
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.
Details
Maps
Contract Information
Comp Sale YN: No
Current Price: $2,900,000
Original List Price: 2900000
List Price: $2,900,000
Status: Active
Listing Contract Date: 2026-08-21
Property Sub Type: Office
Location, Tax, and Legal
Tax Account: 2609649
Parcel Number: 29-38-28-25-0000b.0-0010.00
General County Location: South
Tax Annual Amount: 15141
Tax Year: 2025
Tax Legal Description: HONEYBROOK PLANTATION LOTS 5,6,7 EXC ORB 7354 PG 1031 & HWY R/W
Zoning Description: Commercial/Residential/Office
Directions: From Pineda Causeway Head South on US 1 and Building is approx 3/4 mile on your right hand side.
General Property Information
Number Of Units Total: 2
Stories Total: 1
Building Area Total: 5400
Building Area Source: Public Records
Lot Size Acres: 4.64
Association YN: No
Waterfront YN: Yes
Land Lease YN: No
List Price/SqFt: 537.04
Bathrooms Total: 5
Year Built: 2014
Remarks and Miscellaneous
Public Remarks: 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.
Construction Materials
Block: 1
Cooling
Central Building: 1
Current Use
Office: 1
Fencing
Vinyl: 1
Flooring
Carpet: 1
Tile: 1
Lot Features
Cleared: 1
Parking Features
Parking Lot: 1
Possession
Close Of Escrow: 1
Road Frontage Type
State Road: 1
Roof
Tile: 1
Security Features
Closed Circuit Camera(s): 1
Sewer
Public Sewer: 1
Special Listing Conditions
Standard: 1
Unit 1 Details
Unit ID: 102
Annual Rent: 32400
Unit SqFt: 1800
# Units (This Type): 102
Baths Total: 1
Furnished: Unfurnished
Unit Remarks: Real Estate Office
Unit 2 Details
Unit ID: 104
Annual Rent: 111600
Unit SqFt: 3600
# Units (This Type): 104
Baths Total: 4
Furnished: Unfurnished
Unit Remarks: Title Company
Water Source
Public: 1
Waterfront Features
Intracoastal: 1
River Access: 1
River Front: 1
Showing Requirements
Appointment Only: 1
Call Listing Agent: 1
Listing Agent Must Accompany: 1
Building Features
% Air Conditioned or Heated: 5400
Existing Lease Type
Gross: 1
Showing Considerations
Occupied: 1
Sale Includes
Building Only: 1
Location Tax and Legal
Street Number: 5120
Street Direction Prefix: N
Street Name: Us Highway 1
County: Brevard
State: FL
Postal Code: 32940
MLS Area Major: 322 - NE Melbourne/Palm Shores
Subdivision Name: Honeybrook Plantation
Status Change Information
Major Change Timestamp: 2026-08-22T02:47:21Z
Major Change Type: New Listing
Status Change Timestamp: 2026-08-21
Property Features
Construction Materials: Block
Cooling: Central Building
Current Use: Office
Existing Lease Type: Gross
Fencing: Vinyl
Flooring: Carpet; Tile
Lot Features: Cleared
Parking Features: Parking Lot
Possession: Close Of Escrow
Road Frontage Type: State Road
Roof: Tile
Sale Includes: Building Only
Security Features: Closed Circuit Camera(s)
Sewer: Public Sewer
Showing Considerations: Occupied
Showing Requirements: Appointment Only; Call Listing Agent; Listing Agent Must Accompany
Special Listing Conditions: Standard
Water Source: Public
Waterfront Features: Intracoastal; River Access; River Front
Listing Office: CENTURY 21 Baytree Realty
Last Updated: August - 22 - 2026
Information is deemed to be reliable, but is not guaranteed.