401 E New Haven Ave 2,320 SF Retail Building Melbourne, FL 32901 $1,607,752 CAD ($693.00 CAD/SF) 7.01% Cap Rate

Positioned in the heart of Historic Downtown Melbourne, 401 E New Haven Ave presents a rare opportunity to acquire a fully leased, free-standing retail asset with a long-term NNN lease in place. The property is home to Taco Dive, a popular local concept known for its creative menu and loyal customer base. The lease includes two five-year renewal options and features 4% annual rent escalations, delivering predictable income growth over time.
This 2,320 SF building sits on a 0.15-acre parcel zoned C1 and was last renovated in 2025, offering updated infrastructure and a refreshed façade. The tenant is responsible for property taxes, insurance, and maintenance, minimizing landlord obligations. With a first-year NOI of $82,360 and a cap rate of 7.01%, the asset provides strong returns in a high-demand submarket.
Downtown Melbourne is undergoing significant revitalization, with over 1,000 multifamily units in development and millions invested in streetscape improvements. The property benefits from proximity to major employers such as L3 Harris, Northrop Grumman, and Embraer, as well as Holmes Regional Medical Center and Melbourne Orlando International Airport. Within a 5-mile radius, the area boasts high-performing retailers and over 80,000 daytime employees, reinforcing the location’s retail strength.
This investment is ideal for buyers seeking a stabilized asset in a vibrant, growing market with strong tenant performance and minimal management responsibilities.