Strawbridge 8-Plex in Downtown Melbourne

1219 E Strawbridge Ave, Melbourne, FL 32901

  • For Sale $1,499,999
  • 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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Contacts

broker

Cassandra Hartford

REACH Commercial Real Estate

(321) 514-0876

Location

Getting Around

  • Walk Score ®

    69/100 Somewhat Walkable

  • Bike Score ®

    53/100 Bikeable
Powered by Walk Score ®
  • 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

  • The Mansion

    0.03 miles

  • Melbourne Seafood Station

    0.09 miles

  • Nomad Cafe

    0.12 miles

  • Hell 'n Blazes Brewing Company

    0.13 miles

  • Crush Eleven

    0.20 miles

  • El Ambia Cubano

    0.22 miles

  • Chart House

    0.32 miles

  • Mustard's Last Stand

    0.68 miles

  • Edelweiss

    0.72 miles

  • Crydermans BBQ

    0.74 miles

  • Stone Middle School

    1.19 miles

  • Private School of Progressive Education

    1.21 miles

  • Holy Trinity School

    1.25 miles

  • Melbourne High School

    1.27 miles

  • Melbourne High School

    1.30 miles

  • Florida Institute of Technology Southgate Apartments

    1.43 miles

  • Florida Institute of Technology Columbia Village

    1.43 miles

  • Florida Institute of Technology Alumni House

    1.54 miles

  • Keiser University

    1.60 miles

  • Florida Air Academy

    1.63 miles

  • Coral Reef Academy

    3.36 miles

  • Kids Place

    3.74 miles

  • Mustard Seed Kidz

    4.66 miles

  • Treehouse Learning Academy

    5.23 miles

  • Doorway to Learning

    5.57 miles

  • Berri Patch Preschool

    5.71 miles

  • Elyon Child Care

    5.77 miles

  • Playsmart

    5.77 miles

  • Palm Bay Daycare

    6.94 miles

  • Little Angels

    7.41 miles

Frequently Asked Questions

What is the lease rate for Strawbridge 8-Plex in Downtown Melbourne?

Rental asking rate at Strawbridge 8-Plex in Downtown Melbourne is $749,999.50/YR.

What is the total square footage of Strawbridge 8-Plex in Downtown Melbourne?

Strawbridge 8-Plex in Downtown Melbourne totals 5,852 square feet.

When was this property built?

Strawbridge 8-Plex in Downtown Melbourne was built in 1910.

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Contact Listing Broker

broker

Cassandra Hartford

REACH Commercial Real Estate

(321) 514-0876