Mixed Use in Downtown Melbourne

Highlights:

• The 32901 ZIP code is the premier business hub of the Space Coast, home to key organizations driving economic growth. These include Orlando Melbourne International Airport, L3 Harris, Northrup Grumman, Florida Institute of Technology, Health First, Kindred Hospital, and the Melbourne Regional Chamber of Florida's Space Coast.

Description:

Mixed-use building in the downtown Melbourne core with two commercial suites and five apartments. Trailing twelve months to April 2026: $115,025 gross income, $42,711 operating expenses, $72,314 net operating income.

Six of seven units are under signed lease as of September 8, 2026. Suite 101 is leased through July 2029 and Suite 102 through August 2027, both modified gross. Units 103 and 104 have been re-leased with terms commencing September 25 and October 1, 2026. Unit 202 became vacant August 31, 2026 at the end of its term and is being shown. Signed rent is $8,206.50 per month, or $9,806.50 fully leased.

Ownership self-manages and there is no third-party management fee. Recurring operating cost has run between $9,700 and $11,200 a year across the last two annual periods.

Under current ownership the roof has been replaced in phases with $43,819 of documented contractor invoices, HVAC is a mix of central and split systems with one commercial split replaced within the last three months, and windows are impact rated. Interior updates to paint, cabinets, appliances and countertops were completed in 2021 and 2022. Plumbing fixtures and electrical were updated during the hold.

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.

HVAC: all systems have been replaced within the last one to three years. Each apartment has its own unit, either a mini-split or a window unit. All units have operational HVAC and are professionally maintained.

Roof: all roofs have been replaced during the current ownership period, completed in phases. No known roof issues.

Electrical: light fixtures and outlets were updated at acquisition. No known electrical issues.

Plumbing: most plumbing fixtures have been replaced during the ownership period, including toilets, faucets and tubs. No known issues with plumbing or drains.

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