USAFLPalm ShoresHoneybrook Plantation5120 N Highway 1
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5120 N Highway 1, Palm Shores, FL

Real Estate

For Sale

Listed price in listed location currency (USD).
$2,900,000

040

MLS® 1066459

  • Key Facts
  • Description
  • Map

Key Facts

Type Office
Levels Commercial Sale
Size 5400 sqft
Garage No
HOA Fees 
Taxes $15,772
Days Active 21
Approx. Age 2014
Avg. Price Per Sqft $537
MLS® Number 1066459

Property Address: 5120 N Highway 1, Palm Shores, FL, 32940-7362

Average square foot calculated using Size range provided by listing agent.

Description

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.
MLS® Number1066459
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry Level
Exposure
Exterior
GarageNo
Approx. Age2014
Stories1
Pets

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

Heat
A/C
Heating Fuel

Extras

Building & Land

Similar Listings

Price History

-End Date
Not Sold YetSold Price

For Sale

Jan 14, 2026List Date
$2,900,000List Price
  • Commute

Commute

Starting Address
Destination Address
5120 N Highway 1, Palm Shores, FL

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