1363, 1367, 1385, & 1395 Cypress Ave, Melbourne, Fl 32935 - Melbourne Retail Strip - Multi tenant

Listing Images

No items found.

List Price

$2,000,000

PSF

$140

Cap Rate

7.36%

PPSF

$140

Lot Size

27,878 SF

Key Highlights

Value-Add Opportunity - 92% MTM or short-term tenancy at below-market rents (~$13/SF) priced below replacement cost with an in-place cap rate north of 7% with upside to an 8.5%+ yield

Multi Bays Property with Potential Income - 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 or re-tenant.

Corner Property with High Traffic Data - 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

Prime Location & Surrounding Area - The subject property is located just .3 miles from the Eau Gallie Arts District, 2.5 miles from Indian Harbor Beach, one of Brevard Counties most affluent neighborhoods with a median household income of roughly $85,000, and 3.5 miles from Melbourne Orlando International Airport

High-Growth Corridor - The Eau Gallie Arts District (EGAD) is experiencing significant growth, backed by $3.3M in improvements that enhance walkability and curb appeal with upgraded sidewalks, signage, and public art.

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1363, 1367, 1385, & 1395 Cypress Ave, Melbourne, Fl 32935 - Melbourne Retail Strip - Multi tenant

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The information contained on this website is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap (including Marcus & Millichap Real Estate Investment Services, Inc. and its affiliated entities and subsidiaries) and distribution to any other person or entity without the express written consent of Marcus & Millichap is strictly
prohibited. This website provides summary, unverified information to prospective purchasers, and has been prepared to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. Marcus & Millichap has not made any investigation, and makes no representation or warranty, that the information on this website has not changed since it was originally prepared and posted. The information contained on this website has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all the information set forth herein.

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