505 Ocean Ave, Melbourne Beach
Brevard County Real Estate - Melbourne Beach
Melbourne Beach is a town in Brevard County, Florida, and is Brevard's oldest beach community. Juan Ponce de Leon, the first European to land in Florida, is said to have landed near Melbourne Beach in 1513. The town is located on the same barrier island as Indialantic which borders it to the north. Among the town's points of interest is the the Melbourne Beach Pier, a historic pier expending onto the Indian River.
Melbourne Beach is in East Central Florida. It's population as recorded in the 2010 Census was 3,101. Melbourne Beach is approximately 59 miles from Orlando (population 238,300) and around 56 miles from Port Saint Lucie (population 164,603).
The median age for residents of Melbourne Beach is 49.5. Around 24.7% of Melbourne Beach households include school aged children and 35.6% of households include individuals aged 65 years or over. Census records indicate 96.8% of the Melbourne Beach population are White, .4% are Black or African American, .2% American Indian, 1% Asian and 1.1% are Two or more Races.
There are 1,574 housing units in Melbourne Beach. 230 (14.6%) of these were reported as vacant in the 2010 Census. Melbourne Beach is a tourist destination, 63.4% (146) of it's vacant housing units were classed as seasonal, recreational or for occasional use. There are 245 residential rental units in Melbourne Beach. 218 of them were occupied in 2010 providing a residential rental vacancy rate of 8.2%.
Melbourne Beach links:
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Brevard County
Brevard County is located in the East Central Florida region, along with Orange, Volusia, Sumter, Seminole, Lake, and Osceola counties. There are many incorporated municipalities in Brevard. Cities include Cape Canaveral, Cocoa, Cocoa Beach, Indian Harbour Beach, Melbourne, Palm Bay, Rockledge, Satellite Beach, Titusville, and West Melbourne. The towns in Brevard are Grant-Valkaria, Indiatlantic, Malabar, Melbourne Beach, Melbourne Village, and Palm Shores. Brevard?s population is well over half a million.
Top industries for Brevard County include technology, tourism, agriculture, and other service businesses. Top public sector employers for Brevard County are the Brevard County School Board, Brevard County Board of County Commissioners, NASA, and US Department of Defense. Private sector employers include Harris Corporation, Health First, Inc., United Space Alliance, Wuesthoff Health System, and Northrop Grumman Corporation.
Kennedy Space Center is located on Merritt Island in Brevard County and provides many jobs for the area, as well as acting as a popular tourist destination. It is from this activity that Brevard takes its nickname, the Space Coast. Nicknamed "Space City USA", the city of Titusville is across the water from KSC. The city?s population is highly-educated. The city is a popular destination for visitors wishing to see spacecraft launches.
Other tourist attractions in Brevard County include Port Canaveral, one of the busiest cruise ports in the world, the Merritt Island National Wildlife Refuge, and Cocoa Beach. Port Canaveral is serviced by Disney Cruise Lines, Carnival, and Royal Caribbean. Not just a tourist destination, the port is within a foreign trade zone.
In 2010 and 2011, the Brookings Institution reported that Brevard ranked in the bottom fifth of the nation's top metro areas, based on unemployment, gross metropolitan product, housing prices and foreclosed properties. In 2011, the county was rated the 6th worst in the nation for foreclosures. RealtyTrac rated Brevard as the best county in the United States for buyers in 2013 because of the low prices.
Neighboring Properties
| Address | Type | Sq Ft | Class | |
|---|---|---|---|---|
| 519 Ocean Ave | Municipal Owned | 22,957 | B |
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| 517 Ocean Ave | Municipal Owned | 22,957 | B |
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| 507 Ocean Ave | Municipal Owned | 22,957 | B |
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| 509 Ocean Ave | Municipal Owned | 22,957 | B |
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| 1003 River Rd | Multi-family - less than 10 units | 5,940 | A |
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| 514 Ocean Ave | Hotel or motel | 4,112 | B |
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| 512 Ocean Ave | Multi-family - less than 10 units | 3,133 | B |
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| 518 Ocean Ave | Multi-family - less than 10 units | 1,798 | B |
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| 508 Ocean Ave | Multi-family - less than 10 units | 3,131 | C |
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| 508 Ocean Ave | Multi-family - less than 10 units | 3,131 | C |
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| 1105 River Rd | Multi-family - less than 10 units | 7,463 | B |
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| 1107 River Rd | Multi-family - less than 10 units | 7,463 | B |
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| 1101 River Rd | Multi-family - less than 10 units | 7,463 | B |
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| 515 First Ave | Multi-family - less than 10 units | 7,463 | B |
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| 507 First Ave | Single Family | 1,246 | C |
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| 520 Ocean Ave | Multi-family - less than 10 units | 1,556 | C |
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| 501 Ocean Ave | Church | 4,836 | B |
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| 500 First Ave | Single Family | 1,481 | B |
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| 505 First Ave | Single Family | 1,077 | C |
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| 522 Ocean Ave | Restaurant, cafeteria | 6,406 | B |
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| 504 Ocean Ave | Federal Owned | 3,816 | B |
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| 503 First Ave | Single Family | 1,158 | C |
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| 517 Avenue A | Single Family | 1,160 | C |
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| 513 Avenue A | Single Family | 2,092 | B |
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| 1111 River Rd | Single Family | 3,503 | B |
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| 510 Second Ave | Single Family | 4,309 | A |
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| 509 Avenue A | Single Family | 1,423 | B |
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| 521 Avenue A | Single Family | 1,514 | B |
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| 524 Ocean Ave | Professional service building | 3,660 | B |
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Nearest MLS Listings
Nearest properties for sale within 3 miles of this location
| Address | Miles | Sq Ft | Price | |
|---|---|---|---|---|
| 502 Colony St | .4 | 2,355 | $799,000 |
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| 340 Fourth Ave | 1.65 | 1,948 | $599,999 |
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| 2502 Victoria Dr Ne | 1.98 | 0 | $79,000 | |
| 2814 Harbor City Blvd S | 2.11 | 1,400 | $629,000 |
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| 877 Highway A1a N | 2.17 | 1,200 | $525,000 |
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| 117 Franklyn Ave | 2.18 | 936 | $700,000 |
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| 2990 Highway A1a | 2.31 | 3,072 | $1,299,000 |
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| 2230 Monroe St Ne | 2.4 | 2,496 | $325,000 |
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| 1005 Strawbridge Ave E | 2.56 | 8,618 | $1,995,000 |
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| 1500 Main St Ne | 2.58 | 11,200 | $1,099,000 |
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| 833 New Haven Ave E | 2.66 | 8,109 | $2,990,000 |
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| 1780 Live Oak St Ne | 2.8 | 828 | $129,900 |
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| 3140 Highway A1a | 2.8 | 1,515 | $899,000 |
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| 2971 Indian River Dr Ne | 2.81 | 672 | $158,000 |
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| 1505 Highway A1a N | 2.81 | 2,011 | $739,000 |
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Local Household Income
The median household income in this part of Florida is $72,768. The bottom 10% of the population earn less than $23,880 per year. The top 10% earn more than $187,088 per year. The top 1% earn more than $641,838 per year. Most renters earn between $33,936 (20th percentile) and $61,692 (80th percentile) per year. Someone earning the median household income in this area is likely to qualify for a mortgage between $145,536 and $181,920.
Source: US Census American Community Survey - 2008-2012 ACS 5-year PUMS estimates
Local Rents
The median monthly rent in this part of Florida is $1,015. Most renters earn between $2,828 and $5,141 per month. They typically spend 31% of their monthly income on rent. Most rents fall in the $738 (20th percentile) to $1,432 (80th percentile) range. The residential vacancy rate is 9%.
Nearby Companies
1003 River Rd
1101 River Rd
1101 River Rd
1101 River Rd
1111 River Rd
524 Ocean Ave
524 Ocean Ave
524 Ocean Ave
524 Ocean Ave
524 Ocean Ave
522 Ocean Ave
514 Ocean Ave
514 Ocean Ave
512 Ocean Avenue #
508 Ocean Ave
504 Ocean Ave
500 Ocean Ave