3790 Dixie Highway NE

Description

The Riverview Professional Offices presents an opportunity to acquire a concrete block, two-story commercial building with immediate income and upside potential. Located directly on US-1 in NE Palm Bay, this 5,980 sq. ft. property sits on 0.55 acres with 21 parking spaces and very flexible commercial zoning. The entire second floor is leased to Wade Trim, a nationally recognized civil engineering firm with a long operating history at this location, providing stable in-place income. Two ground-floor suites are vacant (For Lease), recently updated, and ready for an owner/occupant or new tenant, creating value-add potential from day one. Each suite includes a private restroom, separately metered electrical service, and a dedicated garage space. Elevator access, fiber availability, and strong frontage on a major corridor position this asset for long-term flexibility and growth. Ideal for investors seeking yield with upside or businesses looking to occupy while collecting rent. Supplemental Info For: 3790 Dixie Highway NE, Palm Bay, FL. Please find below a comprehensive summary of the property, current tenancy, zoning information, and important notes regarding future potential. Current Cap Rate: 4.54% Pro-Forma: 9.72 Property Overview Construction: Concrete block with stucco exterior Roof: Hip roof with asphalt shingles (original, 20 years old) Structure: Two-story building Configuration: 4 office units and 4 garage units Utilities: City water, sewer connected, AT&T fiber optic internet available Electrical: 4 separate meters and sub-panels (400 Amp Service per Unit) Ingress/Egress: Full access to both northbound and southbound US-1 Current Occupancy - Wade Trim Tenant: Wade Trim is a 100 year old civil engineering firm; nationwide company with 23 offices and more than 700 staff members. They have a staff of wildly diversified specialists and earn many Brevard County and Palm Bay Civil Engineering bids for public works projects. They are ranked in the top 500 design firms and top 200 environmental firms nationwide and continually recognized for their innovative solutions. They are self admittedly on a quest to grow, using their expertise to provide infrastructure solutions in new areas. Occupancy: Currently leases 50% of the office space (Suites C & D; upstairs) and 50% of the garage units (center two bays). Lease Status: 5 year extension (NNN) signed 2025. Operating Expenses Annual Expenses: $51,348.40 (as reported by owner/manager detailed on expense sheet) Management: Self-managed by current owners Zoning & Land Use Current Zoning: Highway Commercial (HC) Future Land Use Designation: Highway Commercial Flood Zone: Outside the 1% and 0.2% annual chance floodplains (no flood insurance required) HC Zoning Overview: The HC zoning district allows for a broad range of commercial uses, including but not limited to: Permitted: Brewpub; Drinking Establishments; Drive-Through Establishments; Equipment Sales, Rental, Leasing; Banks & Financial Institutions; Contractor's Offices; Funeral Homes; General Offices; Pet Day Care; Service Establishments: Business, Intensive, Personal; Assembly of Components Manufactured Off-Site; Childcare Facility; Churches; Convention Centers; Government Establishments; Hospital; Urgent Care; Hotel; Motel; Tourist Courts; Arcades & Amusement Centers; Golf Course & Clubhouse; Public Recreational Facility; Recreation Indoor (5,000 sq ft maximum); Small Event Space; Nursing Home; Parking Garage; Surface Parking Lot; Public Utilities Facility Conditional Use: Fuel Station; Car Wash; Self Storage Facility; Educational Institution; Dance Club; Recreation Outdoor; Recreational Vehicle (RV) Park; Marina City of Palm Bay - Community & Economic Development Board The property's location is well supported by Palm Bay's commitment to business growth and development. Regular Board Meeting Location: Council Chambers, 120 Malabar Road SE, Palm Bay, FL Phone: (321) 409-7187 | EconDev@PalmBayFlorida.org Website: Palm Bay Economi