Description:

1.72 acres with over 300ft of frontage on US Highway 1 available in the heart of Melbourne. Zoned C-2, this operating motel with 53 rooms overlooks the Intracoastal Waterway. Building height allowed is 40ft and there is a good possibility of higher with permission from the city. This central location is close to Holmes Regional Hospital and the Melbourne International Airport and is located between the Melbourne and Eau Gallie Causeways. Location, location, location! The current motel operations brings in a 12% return at this price. Redevelop the whole property or develop half the property and keep half the motel in place running and make a large return. Financing is available with 50% cash down payment.

* UtilitiesPublic Water, Septic

Interior

* InteriorOther
* HeatingWindow/Wall
* CoolingWall-Win A/C
* # of Stories1

Exterior

* RoofComp Shingle

Construction

Block, Frame, Other - Call Agent

Additional Information

* ZoningC2
* HOA Fees0.00