1904 MUNICIPAL LN, Melbourne FL 32901 Commercial Property for Sale for $569,900. This 2,656 square foot building was built on a lot size of .07 Acre(s).

Property Information
$569,900
Commercial Property for Sale
2,656 Square Feet
Taxes are $4,320
Food Service
Active
Lot Size of .07 Acre(s)
Melbourne, FL
Brevard County
MLS/Web ID is 624917
1904 MUNICIPAL LN, Melbourne, FL
Description

Free standing building across from Melbourne City Hall. Current use is fully leased restaurant in thriving Downtown Melbourne. Lease expires late 2014. Option to renew for another 5 years. Approximately 8% CAP Rate. Close to City parking lot – 500 spaces. If tenant exercises option, owner receives good return on investment. If tenant leaves owner has one of only a few freestanding building in the Downtown area equipped as a restaurant. Ready for new tenant or other use.

Exterior Features
Construction
  • Concrete Block Stucco
Land Improvements
  • Curbs & Gutters
  • Sidewalks
Parking
  • Lighted Parking
Road Frontage
  • City Street
Roof
  • Built Up
Interior Features
Cooling System
  • Central Air
Flooring
  • Carpet(s)
  • Tile Flooring
Heating System
  • Central Heat
Sewer
  • City Sewer
Utilities
  • Electric
  • Electric: Single Phase
Water Source
  • City Water
Miscellaneous Features
Accessibility
  • Handicap Bath Features
Commercial
  • Grease Pit
  • Kitchenette
  • Private Restroom
Commercial Location
  • Business District
† Excluded Feature
Listed By
Broker: National Realty of Brevard

Property Report

Price History
Date Price Price Change Description
9/8/2012 $569,900 9.62 % Price Change
9/21/2011 $519,900 Listed Price
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Market Pricing

Average % of sale price Median % of sale price
All listings in Melbourne $379,712 33 % below $205,000 64 % below
Commerical listings in Melbourne $461,378 19 % below $305,000 46 % below

Get the facts about Melbourne, FL!

Population
76,734
Population Growth (since 2000)
4 %
Median Income
$42,345
Median Age
43.6
Households w/ Children
22 %
21,873 5,142 12,459 21,873 5,142
Find Out More! View more area information here.
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The information displayed on this website comes in part from the Broker Reciprocity Program of Brevard County, Florida. Copyright 2006, the Multiple Listing Service of South Brevard County, Inc. and Space Coast Association of REALTORS®, Inc. All rights reserved.

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Financial calculator disclaimer: Default based on a 30-year fixed rate of 3.5% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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