2583 Victoria Drive Ne, Palm Bay, FL 32905
Local realty services provided by:Better Homes and Gardens Real Estate Star
Listed by:keith r brodsky
Office:lokation real estate
MLS#:1058059
Source:FL_SPACE
Price summary
- Price:$175,000
- Price per sq. ft.:$79.98
About this home
Outstanding value! $135,000, below a recent $310,000 appraisal! This versatile, income-producing property offers three fully rentable concrete block buildings in excellent condition, delivering immediate cash flow, live-work potential, or dual-use commercial opportunities. The main building features three offices/bedrooms, a den, a full kitchen with a full-size refrigerator & stove, a laundry area, closets, an upgraded electrical panel, a water heater, & a fully renovated bathroom. The second building, on a separate meter, offers 720 sq ft, a full office, bath, & upgraded electrical. A third detached building adds income potential, workshop, or storage space. The property includes a large concrete parking pad, is fully fenced, gated, & secured, with over 10 parking spaces. Zoned HC with public utilities, suitable for nearly any business use. Prime location near Downtown Melbourne, major employers, shopping, dining, recreation,& two blocks from the Indian River. Only five minutes to the Atlantic Ocean, while being minutes from major employers, transportation hubs, and Downtown Melbourne, makes it an ideal location for companies seeking visibility, accessibility, and future appreciation. One of the most valuable aspects of this property is its inherent flexibility. Few commercial parcels in Brevard County offer three separate structures on one lot, each of which can serve a different purpose. This built-in diversity allows owners to pursue multiple income strategies simultaneously. For example, one building can be leased to a professional office or service business, while another can be rented as a creative workspace, contractor's shop, or residential unit. The third can be used for storage, fleet operations, or additional revenue. Because one structure is on a separate meter, tenants can manage utilities independently, simplifying billing and creating a cleaner separation between units.
The layout of the site is another significant strength. The large concrete parking area supports more than ten vehicles and is ideal for companies that need on-site space for employees, customers, or commercial vehicles. The property's secure fencing and gated entry add a level of utility that is rare in smaller commercial parcels, making it suitable for uses that require outdoor storage, equipment staging, or added security. Contractors, landscapers, tradespeople, and logistics operators will immediately see the advantage of a site that can safely accommodate trucks, trailers, or heavy gear without the need for expensive off-site storage.
The zoning designation HC (Highway Commercial) is among the most flexible available and dramatically broadens the scope of potential uses. Businesses ranging from retail stores and restaurants to professional offices, medical clinics, childcare facilities, and vehicle sales operations can operate here without significant rezoning or variance challenges. This flexibility also extends into mixed-use and live-work configurations, allowing owners to adapt the property as needs evolve. Because the utilities are already public and the site is fully improved, there are few barriers to redevelopment, expansion, or repurposing.
The property's strategic location elevates its value even further. Situated less than five minutes from Downtown Melbourne, the site is positioned at the intersection of convenience and connectivity. Its proximity to the Melbourne-Orlando International Airport enhances access for clients, vendors, and traveling employees. Major employers such as L3Harris, Northrop Grumman, Embraer, Raytheon, and Health First are all within minutes, providing a strong economic foundation and a steady source of demand for nearby services. The visibility and traffic exposure from US-1, which carries more than 33,000 vehicles per day, create additional opportunities for signage, customer access, and walk-in traffic. Just two blocks from the Indian River and five minutes from the Atlantic Ocean, the property blends business utility with desirable surroundings and proximity to coastal recreation.
Beyond its commercial appeal, the property is surrounded by amenities that enhance its attractiveness for businesses, tenants, and customers alike. The Indian River is just a short walk away, providing scenic value and recreational opportunities. The Atlantic Ocean's beaches, reachable in about five minutes, add another lifestyle amenity that sets this location apart from typical inland properties. Several parks and natural spaces are close by. The property is also surrounded by a vibrant mix of dining and entertainment venues. Riverfront favorites such as Yellow Dog Café, The Shack Riverfront & Tiki Bar, and Reflections Restaurant are within easy reach, while Downtown Melbourne offers boutique shopping, art galleries, and frequent community events. This combination of commercial viability and lifestyle appeal makes the site ideal for client-facing businesses, customer-centric operations, or live-work arrangements.
From an investment perspective, the property's potential extends far beyond its current configuration. Because the site already has three structures in place, investors can generate revenue immediately while also exploring value-add opportunities. Adding additional units, enhancing existing spaces, or converting one of the structures into a residential dwelling or accessory dwelling unit could substantially increase cash flow. The large concrete pad and secure lot could support additional structures or be repurposed to accommodate new revenue-generating activities such as outdoor storage, event space, or vehicle rentals.
The property's existing improvements also set it apart from typical commercial offerings. With its concrete block construction, upgraded systems, and compliance features such as handicap-accessible bathrooms and exit signage, it is ready to support operations with minimal additional investment. The main structure's kitchen, laundry, and bathroom make live-work setups feasible without costly renovations. The second structure's separate meter and independent systems allow for easy subdivision of uses and streamlined tenant management. The third structure, while simple in design, opens possibilities for uses ranging from storage to production to expansion of leasable space.
For owner-users, this property presents an opportunity to consolidate operations, generate passive income, and control future growth from a single location. A contractor could run a business from one structure, lease the second to another trade or complementary business, and use the third for material storage. A small manufacturer could utilize the second and third structures for production and inventory while leasing the main building to an office tenant. A service-based business could occupy the main building, use the second for staff training or overflow, and rent the third to an independent contractor. The combinations are nearly endless.
For investors, the site is equally compelling. The three separate structures reduce risk by diversifying income sources. Even if one unit is vacant, revenue from the others can help offset carrying costs. The property's below-appraisal pricing creates built-in equity from day one, and its flexible zoning means future redevelopment or repositioning will face fewer regulatory hurdles. With increasing demand in the Space Coast region for mixed-use and small commercial properties, the appreciation potential is significant.
The property's geographic placement makes it a natural hub for serving both Brevard and Indian River counties. Businesses based here can reach clients across the region quickly, and employees benefit from short commutes to surrounding residential areas. The nearby airport enhances logistics capabilities, and the surrounding infrastructure, including major highways, schools, hospitals, and retail centers, supports sustained business growth. This combination of visibility, access, and surrounding amenities creates long-term stability and positions the property as a valuable asset for decades to come.
The site's appeal also extends into emerging trends in commercial real estate. As more businesses adopt hybrid work models, demand is rising for properties that can accommodate flexible layouts, shared workspaces, and live-work configurations. This property is already set up to meet those needs. Its existing kitchen and bathroom facilities support residential or quasi-residential uses, while the multiple buildings allow for collaborative, multi-tenant environments. Entrepreneurs, small business owners, and creative professionals seeking adaptable space will find the layout particularly attractive.
In summary, this property is not just a piece of real estate; it is a business platform, an investment vehicle, and a strategic foothold in one of Florida's fastest-growing regions. With three rentable structures, strong infrastructure, abundant parking, flexible zoning, and a prime location near major employers, transportation, the Indian River, and only five minutes to the ocean, it offers a combination of features that is exceptionally difficult to duplicate. Whether your goal is income generation, business expansion, portfolio diversification, or future redevelopment, this property offers the tools to achieve it. With its location, versatility, and below-market pricing, it represents one of the most compelling opportunities available in the Brevard County commercial market today. Property is being sold as is, where is with no warranties expressed or implied. Buyer is solely responsible for verifying all information regarding current and future use, zoning, land use designation, development potential, and any governmental approvals required for intended use. Seller makes no representation as to the suitability of the property for any particular commercial or mixed use.
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Home facts
- Year built:1947
- Listing ID #:1058059
- Added:4 day(s) ago
Rooms and interior
- Bedrooms:3
- Total bathrooms:2
- Full bathrooms:1
- Half bathrooms:1
- Living area:2,188 sq. ft.
Heating and cooling
- Cooling:Electric
- Heating:Central, Electric
Structure and exterior
- Year built:1947
- Building area:2,188 sq. ft.
- Lot area:0.22 Acres
Schools
- High school:Palm Bay
- Middle school:Stone
- Elementary school:Palm Bay Elem
Utilities
- Sewer:Public Sewer
Finances and disclosures
- Price:$175,000
- Price per sq. ft.:$79.98
- Tax amount:$1,898 (2023)
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