Multi-tenant Industrial Income Property

Area Description:
Subject property is located at 438 Martin Street SE, Palm Bay, Brevard County, Florida 32909 on the east side of Babcock Street, less than a mile south of Malabar Road (Interstate 95 Interchange # 173). Babcock Street (SR 507) is a major north/south artery that runs from US 1 in North Melbourne south to Fellsmere in Indian River County. Babcock Street in the Melbourne/Palm Bay area is a major commercial corridor with many major shopping centers, retailers, restaurants, banks, and office/medical buildings. The property is a mile from Palm Bay Hospital, Eastern Florida State College, Home Depot, Wal-Mart Super Center, and Lowe’s.

Property Description:
The offering includes 4,920 sf in two multi-tenant industrial buildings. Each building is a 2,460± sf one-story masonry concrete / stucco industrial building built in 1985. Both have a wood truss roof with BU-TG membrane. There are fenced and unfenced yard areas that are part of the lease agreements. Four tenants: one three year lease and three annual leases. Current Gross Income $24,000. Property is accessed from Babcock Street by going east on Convair Street SE then south on Martin Road SE. The property sits on a 0.56 acre lot with 100 ± ft frontage on Martin Street and 100 ± ft rear visibility on Babcock Street. City of Palm Bay Water and Sewer / GC- General Commercial Zoning and Commercial Land Use (City of Palm Bay) / RE Tax $4,597 / Tax Account: 2923111 / Parcel ID: 29-37-03-26-01990.0-0033.00