Airport I Leasehold Investment

LEASEHOLD INVESTMENT OPPORTUNITY

FEATURES:

• Strategically located in Vero Beach Airport / Industrial market!
• Less than 1 Mile from the Vero Beach Municipal Airport
• 38 Parking Spaces!
• Site improvements include paved parking, concrete walkways, landscaping, irrigation & drainage, well lit exteriors, signage and fenced dumpster.
• Units consist of 1,000 to 6,000 SF Units.
• One 4,000 SF building currently vacant.
• 3 phase electric available.

BUILDING: 3 Buildings with 12 Units and 21,000 SF of Rentable Space!
Building 1 - 3,585 SF Office/Warehouse Building
Building 2 - 4,000 SF Office/Warehouse Building
Building 3 - 14,000 SF Warehouse Building
PROPERTY SIZE: Located on 1.6 Acres with 404.44 ft. of frontage on Aviation Blvd. with 172.69 ft. of depth
YEAR BUILT: 1950’s, 1980 and 1988 with Renovations
ZONING: (ALI-1) Airport Light Industrial
UTILITIES: City Water, Sewer & Electric
R.E. TAXES: $10,193.37 (2019)
PROJECTED NOI: $112,423 (Based on 5% Vacancy, Currently 74% Occupied)
CAP RATE: 14% (Based on 5% Vacancy, Currently 74% Occupied)
SALE PRICE: $795,000 (Land Lease Expires 5-31-2033)