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1322 Oak St 5,298 SF Office Building Melbourne, FL 32901 $1,386,440 CAD ($261.69 CAD/SF)
EXECUTIVE SUMMARY
Excellent investment opportunity combining immediate income with significant redevelopment potential. This 0.57-acre property, located just one block from Health First’s Holmes Regional Medical Center, features two durable concrete block office buildings in a highly strategic Melbourne location.
The larger building, approximately 3,900 square feet, is well-suited for an owner-user or can be leased to generate additional income. The second building, approximately 1,300 square feet, is currently tenant-occupied, providing a steady income stream from day one. Further enhancing value, the smaller building received a new roof in 2024, minimizing near-term capital expenditures for the new owner.
Beyond the stability of the existing improvements, the property’s true upside lies in its highly sought-after R-P zoning, offering a flexible and clearly defined path for future redevelopment. This zoning designation supports long-term value creation as market demand continues to grow.
This is a rare opportunity for investors seeking a cash-flowing asset with redevelopment potential, or for an owner-user to occupy the larger building while benefiting from rental income and long-term appreciation.
The larger building, approximately 3,900 square feet, is well-suited for an owner-user or can be leased to generate additional income. The second building, approximately 1,300 square feet, is currently tenant-occupied, providing a steady income stream from day one. Further enhancing value, the smaller building received a new roof in 2024, minimizing near-term capital expenditures for the new owner.
Beyond the stability of the existing improvements, the property’s true upside lies in its highly sought-after R-P zoning, offering a flexible and clearly defined path for future redevelopment. This zoning designation supports long-term value creation as market demand continues to grow.
This is a rare opportunity for investors seeking a cash-flowing asset with redevelopment potential, or for an owner-user to occupy the larger building while benefiting from rental income and long-term appreciation.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Medical
Building Size
5,298 SF
Building Class
C
Year Built
1957
Price
$1,386,440 CAD
Price Per SF
$261.69 CAD
Tenancy
Single
Building Height
1 Story
Typical Floor Size
5,298 SF
Building FAR
0.21
Lot Size
0.57 AC
Opportunity Zone
Yes
Zoning
RP - C1 Commercial
Parking
15 Spaces (2.83 Spaces per 1,000 SF Leased)
AMENITIES
- Signage
PROPERTY TAXES
| Parcel Number | 27-37-34-51-00000.0-0354.00 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $918,447 CAD |
PROPERTY TAXES
Parcel Number
27-37-34-51-00000.0-0354.00
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$918,447 CAD
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1322 Oak St
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