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1584-1590 Highland Avenue , #2

Melbourne, FL 32935
  • $2,200,000
  • STATUS: Active
  • ON SITE: 173 Days
  • MLS #: 931777
UPDATED: 27 min ago
$2,200,000
  • 0
    BEDS
  • 0.2
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 7,175
    SQFT
  • $307
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1927

School Ratings & Info

Description

Exciting opportunity to own a unique income producing property and a piece of history in the booming Eau Gallie Arts District. Once the Amuse Theater and The Mathers Hotel from the early 1900s, this C3 zoned property is both commercial and mixed use. A great 1031 Exchange Opportunity. 100% occupied with stable leases. Proforma Net operating income (NOI) $159k a year (7.2% CAP). Busy and well established salon and medi spa on the 1st level and an 11 unit rooming house on the upper level, that would be a great Airbnb! All plumbing and electrical has been renewed. This fast growing area where you will find dozens of shops, art studios, eateries, bars, salons, events and more! Just 10 minutes to the Melbourne Airport, 50 min to the Orlando Airport, and 10 min to the Beaches, and Space center!

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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 Engle Group of Brevard | eXp Realty 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 Engle Group of Brevard | eXp Realty.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: 2022-10-02T12:10:48.593.
www.englegroupbrevard.com/homes/127576034
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1584-1590 Highland Avenue , #2 Melbourne, FL 32935

  • Price: $2,200,000
  • Status: Active
  • On Site: 173 Days
  • Updated: 27 min ago
  • MLS #: 931777
0
Beds
0
Baths
0
½ Baths
0.2
Acres
7,175
SQFT
$307
$/SQFT
1927
Built
Neighborhood:
None
Area:
323 - Eau Gallie
Property Description
Exciting opportunity to own a unique income producing property and a piece of history in the booming Eau Gallie Arts District. Once the Amuse Theater and The Mathers Hotel from the early 1900s, this C3 zoned property is both commercial and mixed use. A great 1031 Exchange Opportunity. 100% occupied with stable leases. Proforma Net operating income (NOI) $159k a year (7.2% CAP). Busy and well established salon and medi spa on the 1st level and an 11 unit rooming house on the upper level, that would be a great Airbnb! All plumbing and electrical has been renewed. This fast growing area where you will find dozens of shops, art studios, eateries, bars, salons, events and more! Just 10 minutes to the Melbourne Airport, 50 min to the Orlando Airport, and 10 min to the Beaches, and Space center!
Exterior Features

Construction BrickCbs Location Central Business DstCity Waterfront Present No

Interior Features

Ceiling Type AcousticDrywallHeight VariesSuspended Clear Ceiling Height 7175.00 Cooling Central BuildingElectricZoned Flooring LaminateTileWood Heating CentralCentral IndividualElectricZoned Percent Air Conditioned Or Heated 100.00 Size Unit A 320 Sf Size Unit B 2400 Sf Size Unit C 2400 Sf

Property Features

Available Info Copies Of LeaseInventorySurvey Building Info Kitchen FacilitiesLaundryMeeting RoomOfficeOutside StoragePrivate RestroomRear AccessReception AreaSeparate Office AreaShowroomStorage Current Lease 4 - 6 YearsMonth To Month Fire Protection Smoke AlarmSmoke Detector Gross Operating Income 192000.00 Net Operating Income 158298.00 Possession At Closing Real Estate Taxes 9572.78 Rent Unit B 30000.00 Rent Unit C 30000.00 Sale Includes Building & LandBusiness With Real Estate Security Motion DetectorSecurity LightsTv Camera Special Info None Tax Year 2021 Tenant Pays ElectricInsuranceJanitorialRepairsTaxesTrashWaterWater Terms Considered CashConventionalExchange Unit Description A 11 Apt. Units Unit Description B Hair Salon Unit Description C Medi Spa Units Type A 11 Units Type B 2 Units Type C 2 Utilities Public SewerPublic WaterSeparate Meter

Listing provided courtesy of One Sotheby's International: (321) 984-3135.
© 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 Engle Group of Brevard | eXp Realty 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 Engle Group of Brevard | eXp Realty.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: 2022-10-02T12:10:48.593.
 
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Engle Group of Brevard | eXp Realty
7667 N. Wickham Rd #FFF
Melbourne FL, 32940