202 West Drive, Melbourne, FL 32904
$2,385,000
Property Type:
Commercial Sale
Square Footage:
12,000
Lot Size (sq. ft.):
81,022
Status:
Closed
Current Price:
$2,385,000
List Date:
8/13/2022
Last Modified:
11/02/2024
Description
100% occupied single tenant manufacturing building.
6 year NNN lease expires 10/31/2027
$183,600 NOI for 2022-2023 lease year
2% annual base rent increases
Concrete block construction
New Duro Last membrane roof installed in 2017 with 20 year warranty
52 parking spaces
Electrical 1600 Amp - 3 phase - 120/208 v
100% air conditioned
Building recently painted
City water & sewer
More Information MLS# 937291
Location, Tax, and Legal
Tax Account: 2704322
Parcel Number: 27-36-26-75-00000.0-000a.07
General County Location: South
Tax Annual Amount: 12602.5
Tax Year: 2021
Tax Legal Description: INDUSTRIAL PLAZA UNIT 1 PT OF TRACT A AS DESC IN ORB 2401 PG 2857, 2470 PG 2506 PAR A.11
Directions: Located off of Ellis Road in the industrial park between the Melbourne International Airport and I-95. An exit was recently added to I-95 at Ellis Road for direct access to the airport
General Property Information
Number Of Units Total: 1
Building Area Total: 12000
Building Area Source: Other
Lot Size Acres: 1.86
Association YN: No
Property Use: C-LIGHT MANUFACTURING (SMALL EQUIPMENT MFG PLANT, SMALL MACHINE SHOP, INSTRUMENT (4100)
Water Body Access YN: No
Waterfront YN: No
Use Code: 41 / LIGHT MANUFACTURING
List Price/SqFt: 208.33
Sold Price/SqFt: 198.75
Year Built: 1986
Remarks and Miscellaneous
Public Remarks: 100% occupied single tenant manufacturing building.
6 year NNN lease expires 10/31/2027
$183,600 NOI for 2022-2023 lease year
2% annual base rent increases
Concrete block construction
New Duro Last membrane roof installed in 2017 with 20 year warranty
52 parking spaces
Electrical 1600 Amp - 3 phase - 120/208 v
100% air conditioned
Building recently painted
City water & sewer
Construction Materials
Concrete: 1
Cooling
Central Building: 1
Flooring
Other: 1
Heating
Central: 1
Listing Terms
Cash: 1
Lease Option: 1
Possession
Subject To Tenant Rights: 1
Income and Expenses
Net Operating Income: 183600
Security Features
Smoke Detector(s): 1
Sewer
Public Sewer: 1
Water Source
Public: 1
Showing Requirements
24 Hour Notice: 1
Call Listing Agent: 1
Building Features
Clear Ceiling Height: 12000
Existing Lease Type
NNN: 1
Location
Industrial Park: 1
Sale Includes
Building & Land: 1
Historical Information
Public Historical Remarks 3: Utilities-3-Phase Electric: Y, Legal/Misc-Home Warranty: No
Contract Information
Current Price: $2,385,000
Original List Price: 2500000
Sold Price: $2,385,000
Status: Closed
Listing Contract Date: 2022-06-01
Property Sub Type: Industrial
Location Tax and Legal
Street Number: 202
Street Name: West
Street Suffix: Drive
County: Brevard
State: FL
Postal Code: 32904
MLS Area Major: 331 - West Melbourne
Subdivision Name: Industrial Plaza Unit 1
Status Change Information
Major Change Timestamp: 2022-10-28T16:02:22Z
Major Change Type: Status Change
Status Change Timestamp: 2022-10-28
Purchase Contract Date: 2022-08-23
Close Date: 2022-10-28
Close Price: 2385000
Property Features
Construction Materials: Concrete
Cooling: Central Building
Existing Lease Type: NNN
Flooring: Other
Heating: Central
Listing Terms: Cash; Lease Option
Location: Industrial Park
Possession: Subject To Tenant Rights
Sale Includes: Building & Land
Security Features: Smoke Detector(s)
Sewer: Public Sewer
Showing Requirements: 24 Hour Notice; Call Listing Agent
Water Source: Public
Listing Office:
The Ullian Realty Corporation
Last Updated: November - 02 - 2024
Information is deemed to be reliable, but is not guaranteed.