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1219 E Strawbridge Avenue

Melbourne, FL 32901
  • $1,500,000
  • STATUS: Active
  • ON SITE: 12 Days
  • MLS #: 938422
UPDATED: 70 min ago
$1,500,000
  • 0
    BEDS
  • 0.26
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 5,852
    SQFT
  • $256
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1910

School Ratings & Info

Description

IN HISTORIC DOWNTOWN MELBOURNE walking distance to 288 businesses, 39 bars and restaurants. This property is a perfect value add opportunity. Room for rents to be doubled OR units can be flipped to STR where you can create serious ROI. C3 (mixed-use) property is currently comprised of 8 units. Four 2/1's, and Four 1/1. What a great 1031 Exchange Opportunity. 100% occupied. Current proforma (NOI) $70K a year (5% CAP). HOWEVER - If turned into STR (NOI) $192K a year (11.19% CAP). This site sits in a CRA, which allows 100 units per acre, and a height of 8 stories. Potential to build something else on this site in the future.

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© 2022 Space Coast Association of REALTORS®, Inc. The data relating to real estate for sale or lease on this web site comes in part from the Brevard County Broker Reciprocity Database. Real estate listings held by brokerage firms other than Dale Sorensen Real Estate are marked with the IDX logo and detailed information about them includes the name of the listing broker. Information is deemed reliable but is not guaranteed accurate by the MLS or Dale Sorensen Real Estate.IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2022-07-04T07:09:55.71.
www.ashleighlovell.com/homes/130087813
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1219 E Strawbridge Avenue Melbourne, FL 32901

  • Price: $1,500,000
  • Status: Active
  • On Site: 12 Days
  • Updated: 70 min ago
  • MLS #: 938422
0
Beds
0
Baths
0
½ Baths
0.26
Acres
5,852
SQFT
$256
$/SQFT
1910
Built
Neighborhood:
330 - Melbourne
Area:
330 - Melbourne
Property Description
IN HISTORIC DOWNTOWN MELBOURNE walking distance to 288 businesses, 39 bars and restaurants. This property is a perfect value add opportunity. Room for rents to be doubled OR units can be flipped to STR where you can create serious ROI. C3 (mixed-use) property is currently comprised of 8 units. Four 2/1's, and Four 1/1. What a great 1031 Exchange Opportunity. 100% occupied. Current proforma (NOI) $70K a year (5% CAP). HOWEVER - If turned into STR (NOI) $192K a year (11.19% CAP). This site sits in a CRA, which allows 100 units per acre, and a height of 8 stories. Potential to build something else on this site in the future.
Exterior Features

Roof Tar/Gravel

Interior Features

Clear Ceiling Height 5852.00 Cooling Wall-Win A/C Flooring Wood Heating Window/Wall

Property Features

Current Lease 1 - 3 YearsMonth To Month Fire Protection None Possession At ClosingQuick Closing Real Estate Taxes 7507.59 Sale Includes Building & Land Special Info Foreign Seller Tax Year 2021 Tenant Pays Electric

Listing provided courtesy of Curri Kirschner R.E. Group Llc.
© 2022 Space Coast Association of REALTORS®, Inc. All Rights Reserved.


© 2022 Space Coast Association of REALTORS®, Inc. The data relating to real estate for sale or lease on this web site comes in part from the Brevard County Broker Reciprocity Database. Real estate listings held by brokerage firms other than Dale Sorensen Real Estate are marked with the IDX logo and detailed information about them includes the name of the listing broker. Information is deemed reliable but is not guaranteed accurate by the MLS or Dale Sorensen Real Estate.IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2022-07-04T07:09:55.71.
 
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Dale Sorensen Real Estate
1013 US Hwy 1
Sebastian FL, 32958