$2,750,000
Palm Bay, FL 32905
MLS# 934186
Status: Closed
11734 sqft
1 / 12
Property Description
Excellent opportunity to purchase a single-tenant income producing industrial property in the heart of Palm Bay!! Republic Services has a 10-Year Agreement with City of Palm Bay Commencing 6/1/20. Long Term NNN Lease with Escalators Every 2-Years. Estimated 2022 NOI is $179,220 which is approximately a 6% CAP. There are two buildings for a total of 11,734 SF. Exterior is approximately 3.41 acres of paved/fenced/cleared yard. New roofs on both buildings in 2020 (Techgum Deck Fastened to Trusses). Flexible City of Palm Bay Light Industrial Zoning allows Warehousing, Light Manufacturing, Outdoor Storage & More! Close proximity to US1, Palm Bay Road & Interstate 95. The Melbourne International Airport is approximately 15-minutes away.
Details
Maps
Location, Tax, and Legal
Tax Account: 2857737
Parcel Number: 28-37-14-00-00019.0-0000.00
General County Location: South
Elementary School: Palm Bay Elem
Middle School: Stone
High School: Palm Bay
Tax Annual Amount: 6973.28
Tax Year: 2021
Tax Legal Description: PART OF W 1/2 OF NW 1/4 OF NE 1/4 & PART OF LOT 6 BLK B OF PB 18 PG 121 AS DESC IN ORB 3955 PG 3936
Directions: From Robert J. Conlan, turn north onto Northview Street NE. Property will be located on the east side at the Doreatha Fields Avenue & Northview Street intersection.
General Property Information
Number Of Units Total: 1
Living Area: 11734
Living Area Source: Public Records
Building Area Total: 11734
Lot Size Acres: 3.41
Lot Size Square Feet: 148540
Association YN: No
Garage YN: No
Garage Spaces: 0
Carport YN: No
Carport Spaces: 0
Waterfront YN: No
Use Code: 48 / WAREHOUSING, D
Water Body Access YN: No
Pool Private YN: No
List Price/SqFt: 254.56
Sold Price/SqFt: 234.36
Year Built: 1974
Remarks and Miscellaneous
Public Remarks: Excellent opportunity to purchase a single-tenant income producing industrial property in the heart of Palm Bay!! Republic Services has a 10-Year Agreement with City of Palm Bay Commencing 6/1/20. Long Term NNN Lease with Escalators Every 2-Years. Estimated 2022 NOI is $179,220 which is approximately a 6% CAP. There are two buildings for a total of 11,734 SF. Exterior is approximately 3.41 acres of paved/fenced/cleared yard. New roofs on both buildings in 2020 (Techgum Deck Fastened to Trusses). Flexible City of Palm Bay Light Industrial Zoning allows Warehousing, Light Manufacturing, Outdoor Storage & More! Close proximity to US1, Palm Bay Road & Interstate 95. The Melbourne International Airport is approximately 15-minutes away.
Appliances
None: 1
Construction Materials
Block: 1
Concrete: 1
Frame: 1
Stucco: 1
Wood Siding: 1
Cooling
Central Air: 1
Flooring
Concrete: 1
Vinyl: 1
Listing Terms
Cash: 1
Conventional: 1
Pool Features
None: 1
Possession
Close Of Escrow: 1
Income and Expenses
Net Operating Income: 179220
Owner Pays
Other: 1
Road Surface Type
Paved: 1
Roof
Other: 1
Special Listing Conditions
Standard: 1
Utilities
Electricity Connected: 1
Sewer Connected: 1
Water Available: 1
Water Source
Public: 1
Showing Requirements
Appointment Only: 1
Call Listing Office: 1
No Sign: 1
Showing Considerations
Occupied: 1
Historical Information
Public Historical Remarks 3: Site Location-Near Railroad: Y, Style-Other - Call Agent: Y, Number of Buildings: 2 Buildings
Contract Information
Current Price: $2,750,000
Original List Price: 2987000
Sold Price: $2,750,000
Status: Closed
Listing Contract Date: 2022-05-06
Property Sub Type: Multi Family
Location Tax and Legal
Street Number: 2575
Street Name: Doreatha Fields
Street Suffix: Avenue
Street Direction Suffix: NE
County: Brevard
State: FL
Postal Code: 32905
MLS Area Major: 340 - NE Palm Bay
Status Change Information
Major Change Timestamp: 2022-12-11T18:56:53Z
Major Change Type: Status Change
Status Change Timestamp: 2022-12-11
Purchase Contract Date: 2022-08-19
Close Date: 2022-12-11
Close Price: 2750000
Property Features
Appliances: None
Construction Materials: Block; Concrete; Frame; Stucco; Wood Siding
Cooling: Central Air
Flooring: Concrete; Vinyl
Listing Terms: Cash; Conventional
Owner Pays: Other
Pool Features: None
Possession: Close Of Escrow
Road Surface Type: Paved
Roof: Other
Special Listing Conditions: Standard
Utilities: Electricity Connected; Sewer Connected; Water Available
Water Source: Public
Showing Considerations: Occupied
Showing Requirements: Appointment Only; Call Listing Office; No Sign
Listing Office: The Ullian Realty Corporation
Last Updated: October - 23 - 2024
Information is deemed to be reliable, but is not guaranteed.