1507 Aurora Road, Melbourne, FL 32935

$2,350,000

Property Type: Commercial Sale Square Footage: 17,806 Status: Closed

Current Price: $2,350,000 List Date: 3/02/2022 Last Modified: 11/02/2024

Overview

Description

1031 Exchange Opportunity. 100% occupied with stable leases. Proforma Net operating income (NOI) $167k a year (6.7% CAP). 15,000+- Freestanding building with additional land for another structure / paid storage... endless possibilities on 2.32 acres. The property consists of 5 retail/office spaces each separately metered. A diversified and dynamic mix of tenants including a Mirror Repair, Office, Arcade, and retail.

Listing Details MLS# 928438

General Property Information

Number Of Units Total: 4
Stories Total: Yes
Building Area Total: 17806
Year Built: 2005
Property Use: C-RETAIL STORE - MULTIPLE UNITS (1110)
Use Code: 12 / COMMERCIAL, MIXED USE
Association YN: No
Water Body Access YN: No
Waterfront YN: No
List Price/SqFt: 140.4
Sold Price/SqFt: 131.98

Property Features

Building Features: Lounge; Meeting Room; Office; Outside Storage; Reception Area Ceiling Type: Exposed Construction Materials: Block Cooling: Central Air Current Use: Commercial Existing Lease Type: Gross Flooring: Carpet Heating: Electric Listing Terms: Cash; Conventional; Lease Option Possession: Close Of Escrow Sale Includes: Building & Land Security Features: Security System Owned; Smoke Detector(s) Showing Requirements: Appointment Only Special Listing Conditions: Presently Leased

Contract Information

Original List Price: 2500000
Listing Contract Date: 2022-03-02
Property Sub Type: Business

Location Tax and Legal

Street Number: 1507
Street Name: Aurora
Street Suffix: Road
County: Brevard
State: FL
Postal Code: 32935
MLS Area Major: 323 - Eau Gallie

Remarks and Miscellaneous

Public Remarks: 1031 Exchange Opportunity. 100% occupied with stable leases. Proforma Net operating income (NOI) $167k a year (6.7% CAP). 15,000+- Freestanding building with additional land for another structure / paid storage... endless possibilities on 2.32 acres. The property consists of 5 retail/office spaces each separately metered. A diversified and dynamic mix of tenants including a Mirror Repair, Office, Arcade, and retail.

Status Change Information

Major Change Timestamp: 2022-04-29T17:27:09Z
Major Change Type: Status Change
Status Change Timestamp: 2022-04-29
Purchase Contract Date: 2022-04-04
Close Date: 2022-04-29
Close Price: 2350000

More Information

Income and Expenses

Gross Scheduled Income: 167000
Net Operating Income: 196200

Historical Information

Public Historical Remarks 3: Legal/Misc-Home Warranty: No

Listing Office: Kirschner Real Estate G

Last Updated: November - 02 - 2024

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