5120 N Highway 1 | MLS #1066459 | RE/MAX Aerospace Realty

Listing provided courtesy of CENTURY 21 Baytree RealtyMLS# 1066459

Unique Opportunity to Own Prime Commercial Real Estate in Melbourne! 4.64 Acres of Direct US 1 with 300 ft. of Indian River Front Frontage (can be used for residential); can be broken up into three parcels total. One of the three potential parcels has a beautiful concrete block 5400 square foot tile roof building and is currently fully occupied with long term leases in place. The 5400 Sq ft. building is being valued at 1.7 million with the additional 3.39 acres being valued at 1.2 million. The CAP RATE for the 5400 Sqft building is 7%. The building is currently fully occupied (3600 sq ft occupied by the owner with long term plans to stay) with 5 year leases in place for both tenants. Build on the other two parcels as you collect income from this beautiful building! Phase 1 Environmental Completed Dec. 2025 with approval for 33,000 square foot building. A special height variance is approved by the town of Palm Shores for this project. Will provide documentation upon request.

Source: Brevard Space Coast MLS, MLS#: 1066459

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Property Type

Commercial Sale
Lot

4.64 acres

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Melbourne FL Real Estate Market Insights | Homes, Prices & Trends

Melbourne is positioned on Florida’s Space Coast, offering direct access to the Atlantic Ocean and the Indian River Lagoon. View a snapshot of Melbourne’s housing activity, including current listings, recent sales, average sale prices, and demographic trends.

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Median Age

49
Population Density

305
College Educated

64%
Estimated Median Income

$73,601
Estimated Total Home Owners

14,892
Estimated Total Renters

2,936
Owner / Renter Divide

84% / 16%
Estimated Average Household Size

2
Total Population

43,046
Community data courtesy of LiveBy, Inc.

Owning this Home

Estimated Monthly Cost

Price

Down Payment

$ %

Loan Length (years)

Interest Rate

* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

Life at 5120 N Highway 1

Schools

School data courtesy of LiveBy, Inc.

Ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating. The schools displayed on this website are for informational purposes only and may not represent a complete or up-to-date list. School assignments are subject to change and should be verified directly with the local school district. Please contact the appropriate school district to confirm school zoning and enrollment eligibility for this property.

History

Date	Event	Value	Agent
1/15/2026Source: Brevard Space Coast MLS	Price Increase	$2,900,000 5.5%
1/14/2026Source: Brevard Space Coast MLS	Added to Database	January 14, 2026