700 S John Rodes Boulevard, Melbourne, FL 32904

Property Details:

Excellent opportunity to purchase an income producing warehouse condo in the heart of Melbourne! Sale includes two adjoining 1,344 SF units = 2,688 SF footprint + bonus builtout upstairs 2,688 SF = 5,376 SF total. Floorplan is est. 1,151 SF warehouse + 4,225 SF HVAC office. Interior includes a reception area, 6 offices, conference room, bullpen and a break room. Currently 100% occupied. Est. 2024 NOI is $54,044 (est. 9.8% CAP). Lease term expires 9/30/24. Tenant has two 1-year renewal options with 2% annual escalators. Unit has two 9' wide x 10' tall +/- grade level doors. Utilities include City Water/Sewer and 1-Phase FPL electric. Conveniently located on John Rodes Boulevard which is a direct connector between New Haven Avenue, Ellis Road & Eau Gallie Boulevard. Three Interstate 95 interchanges nearby. Close proximity to the Melbourne International Airport, L3Harris, Northrop Grumman and numerous employers.

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