Strawbridge 8-Plex in Downtown Melbourne

For Sale

1219 E Strawbridge Ave, Melbourne, FL 32901

This Melbourne property for sale is located at 1219 E Strawbridge Ave. The current listed sale price for Strawbridge 8-Plex in Downtown Melbourne is $1,499,999. Strawbridge 8-Plex in Downtown Melbourne is situated on a lot that is 0.26 acre in size.

Contacts

broker

Cassandra Hartford

REACH Commercial Real Estate

(321) 514-0876

Property Details

  • Property Type Multi-Family
  • Property Size 5,852 SF
  • Units 8
  • Lot Size 0.26 Acre
  • Year Built 1910
  • Date Updated Mar 27, 2024
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.TBD

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Getting around

  • 69/100

    Walk Score ®

  • 53/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Melbourne, FL
  • Zip Code 32901
  • Market Orlando

Points of Interest

  • Wawa

    0.05 miles

  • Mobil

    1.62 miles

  • BP

    1.72 miles

  • Speedway

    2.00 miles

  • Cumberland Farms

    2.18 miles

  • Sunoco

    2.43 miles

  • Mobil

    2.55 miles

  • Exxon

    2.64 miles

  • BP

    2.89 miles

  • Mobil

    3.05 miles

  • B1 Parking

    0.83 miles

  • Driver Training Lot

    1.15 miles

  • Columbia Village Parking Garage

    1.52 miles

  • Rental Car Lot

    2.10 miles

  • Joe Mullins Park Parking

    2.50 miles

  • Central Parking - Main Lot

    4.80 miles

  • North Parking - East of Main Building

    4.81 miles

  • West Parking - Back Lot

    4.90 miles

  • South Malabar Parking

    5.61 miles

  • Palm Bay Lot

    5.81 miles

  • Crane Creek Inn

    0.30 miles

  • Riders Of The Storm Inn

    0.62 miles

  • Residence Inn by Marriott Melbourne

    1.32 miles

  • Hilton Melbourne, FL

    1.55 miles

  • Suburban Extended Stay Hotel Melbourne Airport

    1.64 miles

  • DoubleTree by Hilton Melbourne

    2.85 miles

  • Port d'Hiver bed and Breakfast

    2.86 miles

  • Extended Stay Deluxe Hotel Melbourne

    3.15 miles

  • Courtyard by Marriott - Melbourne West

    3.24 miles

  • Crowne Plaza Melbourne-Oceanfront

    3.66 miles

  • Sears

    1.54 miles

  • Walmart Neighborhood Market

    2.12 miles

  • Longboard House

    2.31 miles

  • Brazil 4 You

    2.41 miles

  • Macy's

    2.72 miles

  • Melbourne Square Mall

    2.87 miles

  • Dillard's

    2.89 miles

  • Dillard's

    2.95 miles

  • JCPenney

    3.02 miles

  • Thrifty Produce

    3.11 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Cassandra Hartford

REACH Commercial Real Estate

(321) 514-0876