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Shopping Neighborhood

Eye Clinic Plaza

230 S Wickham Rd, West Melbourne, FL 32904

Listing Price: $925,000

Cap Rate
8.57%
Rentable SF
5,940
Lot Size
0.41 acres
Year Built
1986

Investment Overview

Marcus and Millichap is pleased to present an opportunity to Marcus and Millichap is
pleased to present an opportunity to acquire a small 5,400 square foot multi-tenant retail
building situated on 0.41 acres in the growing town of Melbourne, Florida. This asset is
positioned on a corner lot directly across from the Melbourne International Airport.
This unique opportunity features a 6-bay multi-tenant building with an average suite size
of 900 square feet, making it easy to retenant and suitable for a wide range of tenants. The
Eye Clinic center is currently 50% occupied by the current owner, who is open to either
signing a short-term sale leaseback or vacating the space upon closing. This provides
thefuture owner with various options for stabilizing the asset or utilizing it as an owneruser opportunity
Priced under $150 per square foot, this property is well below replacement cost, offering
substantial upside potential for future value

Investment Highlights

  • Small Bay Retail Value AddCenter
  • Irreplaceable Real Estate Across From Airport
  • Low Rents Compared to Market

Exclusively Listed By

Financing By

Shopping Neighborhood

Eye Clinic Plaza

Listing Price: $925,000

Cap Rate
8.57%
Rentable SF
5,940
Lot Size
0.41 acres
Year Built
1986

Investment Highlights

  • Small Bay Retail Value AddCenter
  • Irreplaceable Real Estate Across From Airport
  • Low Rents Compared to Market

Investment Overview

Marcus and Millichap is pleased to present an opportunity to Marcus and Millichap is pleased to present an opportunity to acquire a small 5,400 square foot multi-tenant retail building situated on 0.41 acres in the growing town of Melbourne, Florida. This asset is positioned on a corner lot directly across from the Melbourne International Airport. This unique opportunity features a 6-bay multi-tenant building with an average suite size of 900 square feet, making it easy to retenant and suitable for a wide range of tenants. The Eye Clinic center is currently 50% occupied by the current owner, who is open to either signing a short-term sale leaseback or vacating the space upon closing. This provides thefuture owner with various options for stabilizing the asset or utilizing it as an owneruser opportunity Priced under $150 per square foot, this property is well below replacement cost, offering substantial upside potential for future value

Exclusively Listed By

Financing By

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