1404 Highway A1a, Satellite Beach, FL 32937

$2,250,000

Virtual Tour

https://www.propertypanorama.com/instaview/spc/1034627

Property Type: Commercial Sale Baths: 3 Square Footage: 6,092 Lot Size (sq. ft.): 30,056 Status: Closed

Current Price: $2,250,000 List Date: 1/17/2025 Last Modified: 5/14/2025

Overview

Description

This updated income-producing property in the heart of Satellite Beach, offers an unbeatable location just steps from the shoreline. Fully leased to stable tenants, this remodeled gem is a rare find for investors seeking reliable returns with a 6.25% cap rate. The interior has been fully renovated, boasting modern finishes that attract and retain high-quality tenants. The property features a new roof, ensuring low maintenance for years to come. A pending lease with a popular food truck operator for the parking lot further enhances the property's income potential, making this a versatile and lucrative investment. This beachside property combines long-term stability with exciting future growth opportunities, all in a highly sought-after location.

Listing Details MLS# 1034627

General Property Information

Number Of Units Total: 3
Bathrooms Total: 3
Building Area Total: 6092
Year Built: 1964
Lot Size Acres: 0.69
Water Body Access YN: No
List Price/SqFt: 369.34
Sold Price/SqFt: 369.34

Property Features

Construction Materials: Concrete; Stucco Lot Features: Corner Lot Parking Features: Parking Lot Sale Includes: Building & Land Sewer: Public Sewer Water Source: Public

Contract Information

Original List Price: 2250000
Listing Contract Date: 2025-01-17
Property Sub Type: Office

Location Tax and Legal

Street Number: 1404
Street Name: Highway A1a
County: Brevard
State: FL
Postal Code: 32937
MLS Area Major: 382-Satellite Bch/Indian Harbour Bch

Remarks and Miscellaneous

Public Remarks: This updated income-producing property in the heart of Satellite Beach, offers an unbeatable location just steps from the shoreline. Fully leased to stable tenants, this remodeled gem is a rare find for investors seeking reliable returns with a 6.25% cap rate. The interior has been fully renovated, boasting modern finishes that attract and retain high-quality tenants. The property features a new roof, ensuring low maintenance for years to come. A pending lease with a popular food truck operator for the parking lot further enhances the property's income potential, making this a versatile and lucrative investment. This beachside property combines long-term stability with exciting future growth opportunities, all in a highly sought-after location.

Status Change Information

Major Change Timestamp: 2025-05-14T15:44:47Z
Major Change Type: Status Change
Status Change Timestamp: 2025-05-14
Purchase Contract Date: 2025-04-15
Close Date: 2025-05-09
Close Price: 2250000

More Information

Unit 1 Details

Unit ID: 1402A
Annual Rent: 48600
Unit SqFt: 1523
# Units (This Type): Yes
Furnished: Unfurnished
Unit Remarks: Relentless Title

Unit 2 Details

Unit ID: 1402B/C
Annual Rent: 75428
Unit SqFt: 3000
# Units (This Type): 2
Furnished: Unfurnished
Unit Remarks: Grooveshack

Unit 3 Details

Unit ID: 1404
Annual Rent: 37714
Unit SqFt: 1500
# Units (This Type): 3
Furnished: Unfurnished
Unit Remarks: Grooveshack

Location, Tax, and Legal

Tax Account: 2705939
Parcel Number: 27-37-01-00-00266.0-0000.00
General County Location: South
Tax Annual Amount: 15355.6
Tax Year: 2024
Tax Legal Description: PART OF NW 1/4 OF NW 1/4 AS DES IN ORB 659 PG 687
Directions: Cross the Eau Gallie Causeway into Indian Harbour Beach and proceed east on Eau Gallie Blvd. when you reach N Highway A1A turn left and proceed north for 2.4 miles until you reach your destination on the left 1404 SR- A1A Satellite Beach

Construction Materials

Concrete: Yes
Stucco: Yes

Lot Features

Corner Lot: Yes

Parking Features

Parking Lot: Yes

Sewer

Public Sewer: Yes

Water Source

Public: Yes

Sale Includes

Building & Land: Yes

Listing Office: Relentless Real Estate Co.

Last Updated: May - 14 - 2025

Information is deemed to be reliable, but is not guaranteed.