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CWTheaters West Melbourne 15 4345 W New Haven Ave
70,772 SF Retail Building Melbourne, FL 32904 $15,311,012 CAD ($216 CAD/SF)
Investment Highlights
- 4345 W New Haven Avenue in Melbourne offers boundless investment and redevelopment potential in one of the nation's fastest-growing markets.
- Positioned on 15.4 acres of land with liberal C-P zoning, various redevelopment possibilities include hospitality, multifamily, and commercial uses.
- Melbourne International Airport is just 15 minutes away, with Melbourne Beach a 25-minute drive, offering access and exposure to key destinations.
- This multiplex cinema was initially constructed in 2002, and significant renovations were completed in 2019, bringing new life to West Melbourne.
- At the I-95 and US Hwy 192 exit, this dynamic property is accessible to major roadways and nearby amenities, including Sam's Club and Fairfield Inn.
- Brevard County has seen rapid growth over the past five years, making 4345 W New Haven Avenue a desirable locale for a reimagined future.
Executive Summary
With 15.4 acres of prime land, the property's C-P zoning creates a canvas of redevelopment potential catering to diverse ventures such as assisted living facilities, hotels/motels, multifamily, places of worship, indoor recreation, restaurants, retail outlets, auto dealerships, and more.
Bountiful nearby conveniences include national retailers and services like Sam's Club, Fairfield Inn & Suites by Marriott, Subaru of Melbourne Ashley Furniture, and Zaxby's. On the southeast corner of the Interstate 95 and US Highway 192 junction, accessibility is unmatched, with Melbourne-Orlando International Airport (MLB) 15 minutes away. Melbourne Beach, just 25 minutes from 4345 W New Haven Avenue, is a coveted destination for tourists and locals, attracting a large population to this region.
Over the past five years, Brevard County has witnessed a surge in population driven by domestic migration and the influx of high-wage jobs. This surge in buying power and consumer spending has translated into low vacancies and robust rent growth, making 4345 W New Haven Avenue an optimal investment opportunity. A gateway to endless opportunity, 4345 W New Haven Avenue is set to be reimagined for Broward County's growing climate.
Property Facts
Amenities
- Conferencing Facility
- Signage
- Air Conditioning
About Brevard County
Brevard County has had one of the fastest growing economies in the nation over the past five years. The area has been revitalized by the impressive growth of the privatized space sector, including thousands of high-wage jobs created by world-renowned firms such as Blue Origin, OneWeb, and SpaceX. Defense-related jobs have also surged over the past five years, with high-wage jobs added by many of Brevard County’s largest employers, including Harris Corporation, Northrup Grumman, and Lockheed Martin.
The fast-growing employment market has fueled population growth via domestic migration to Brevard County, which has combined with the plethora of high-wage jobs to significantly increase buying power and consumer spending. The region also receives a significant boost from a robust tourism industry.
This widespread growth has translated to strong retail demand, which has been more than enough to offset increased retail construction of late and keep the average vacancy rate below the market’s historical average. The tight retail market conditions allow landlords to increase retail rents at an annual rate well above the national average.
The low vacancies and strong rent growth drive near-term net operating incomes, which has attracted retail investors chasing high return-on-investment and asset yields. The high investor demand for retail assets in Brevard County has resulted in record sales volume over the past five years.
DEMOGRAPHICS
Demographics
Nearby Amenities
Restaurants |
|||
|---|---|---|---|
| Sushi Factory | - | - | 11 min walk |
| Denny's | American | - | 11 min walk |
| Dunkin' | Cafe | - | 12 min walk |
| Bennigan's | - | - | 16 min walk |
Retail |
||
|---|---|---|
| Ashley HomeStore | Furniture/Mattress | 7 min walk |
| Pinch-A-Penny Pool-Patio-Spa | Garden/Patio/Pool | 11 min walk |
| Sam's Club | Wholesale Club | 11 min walk |
| AmeriLife | Insurance | 15 min walk |
Hotels |
|
|---|---|
| Courtyard |
146 rooms
8 min drive
|
| Hyatt Place |
106 rooms
12 min drive
|
| Hyatt Place |
143 rooms
13 min drive
|
| Hilton |
238 rooms
13 min drive
|
PROPERTY TAXES
| Parcel Number | 28-36-02-00-00501.0-0000.00 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $8,470,850 CAD |
PROPERTY TAXES
Sale Advisor
Sale Advisor
Anthony Romero, Broker
Anthony’s focus is on working with sellers on unique and creative marketing strategies for their home, to stand out in this rapid changing market. When asked about current market conditions, he quickly states, “The market is always changing. We are in a good spot, and we have a lot of equity left to gain. Inventory is down, but we have a lot of buyers.”
The Romero Realty Group is dedicated to growing and is using the very latest technologies to not only stay current but surpass agents that have been in the business for years. They utilize new techniques to allow them to continue to work with both buyers and sellers. International marketing allows Anthony to reach more people, concentrating his efforts on particular buyers, sellers, and properties.
When Anthony is not buying and selling Brevard County, he enjoys a healthy lifestyle including water sports, tennis, golf, and spending time with his beautiful family. He is also a member of the Eau Gallie Yacht Club, the Florida Green Building Coalition, the Surf Rider Foundation, and the Indialantic Dad’s Club.
-
Anthony Romero -
Dale Sorensen Real Estate
Presented by
CWTheaters West Melbourne 15 | 4345 W New Haven Ave
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