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1363 Cypress Ave
Melbourne, FL 32935 Melbourne

$2,000,000 USD

General Retail For Sale  •  14,260 SF

Property Details

  • Property Type General Retail
  • Total Building Size 14,260 SF
  • Lot Size 0.64 AC
  • Building Class C
  • Year Built 1960
  • Tenancy Multiple
  • Zoning C3
0 Transit Score
76 Walk Score

Highlights

92% MTM or short-term tenancy, below-market rents (~$13/SF) priced below replacement cost w/ an in-place cap rate north of 7% with upside to an 8.5%+
The ± 14,260 SF building is divided into 16 small bay retail and office units averaging 891 SF, ideal for local businesses and easy to lease/re-tenant
Strategically located on the corner of Cypress Avenue, W Eau Gallie Blvd, and N Harbor City Blvd (US-1) which sees ±80,000 vehicles per day
The subject property is located just .3 miles from the Eau Gallie Arts District, 2.5 miles from Indian Harbor Beach.
The Eau Gallie Arts District (EGAD) is experiencing significant growth, backed by $3.3M in improvements that enhance walkability and curb appeal.

Amenities

  • Signage

Public Transportation

AirportDriveWalkDistance
Melbourne Orlando International 14 min - 5.0 mi
Jonathan De La Rosa 786-306-7259 Marcus & Millichap
Jonathan De La Rosa 786-306-7259 Marcus & Millichap