$1,395,000

This property offers the perfect opportunity for a downtown Airbnb, already partially remodeled with key upgrades including new ductwork, electrical, flooring, walls, ceilings, lighting, and fixtures. With its prime location and modern touches already in place, this gem is just waiting for the final finishing touches to make it a standout investment. Currently improved with a single-family residence constructed in 1926, the existing structure comprises approximately 1,400 square feet with 2 bedrooms and 1 bathroom. While the home remains intact, the highest and best use of the property is as a premier development site. The zoning designation allows for significant vertical development potential, with no setback requirements and a maximum building height of up to 96 feet. Conceptual capacity includes the ability to construct up to 36 residential units integrated with ground-floor commercial mix use. The zoning designation allows for significant vertical development potential, with no setback requirements and a maximum building height of up to 96 feet. Conceptual capacity includes the ability to construct up to 36 residential units integrated with ground-floor commercial mix use. The property is located within a highly walkable, amenity-rich environment surrounded by upscale retail, popular dining establishments, and recently completed mixed-use developments all contributing to sustained pedestrian traffic and urban vitality. Strategically located just three miles from the Melbourne Orlando International Airport currently undergoing a multi-million-dollar terminal and runway expansion the site benefits from its proximity to major infrastructure investments. Additionally, surrounding developments such as the new Margaritaville resort and multiple luxury residential projects within a two-mile radius further underscore the area's momentum and long-term growth prospects. The site also includes a 15-foot-wide service alley that provides continuous access between Vernon Place and Waverly Place. This through-access enhances logistical efficiency for future loading, service vehicles, and other back-of-house functions, increasing the development's operational flexibility. This offering represents more than just a redevelopment opportunityit is a pivotal investment in the future of Downtown Melbourne, serving as a potential cornerstone within the broader transformation of the Space Coast's most vibrant commercial and residential corridor.