NNN Lease w Minimal Landlord Responsibilities
SOLD November 2023 for $720,000
2162 Harris Avenue, Palm Bay, Florida 32905
| Building Size | 2,420 Square Feet |
| Land Size | 1 Acres |
| Zoning | Community Commercial (CC) |
| Parking | 51 Asphalt Striped Spaces |
| Water | City Water |
| Sewer | City Sewer |
| Electric | FPL |
| Year Built | 1978 |
| Roof | Replaced in 2019 |
| CAP Rate | 7.5% |
- 100% Occupied Single Tenant Stand-Alone Restaurant.
- 2,420 SF Restaurant + 772 SF Outdoor Patio Seating = 3,192 SF Total.
- NNN Lease. Expires 1/1/2028. One 5-Year Renewal Option.
- Annual CPI Escalator with 3% Floor & 6% Ceiling.
- Est. NOI is $54,000 (Est. 7.5% CAP).
- Piped Underground Gas. Underground Grease Trap. Drive Through Window. Walk-in Cooler.
- New Roof 2019. 51 Asphalt Paved/Striped Parking Spaces.
- Majority of the FF&E Owned by Landlord.
- Strategically Located off of Palm Bay Road with Est. 30,000 VPD.
- Located in the heart of Palm Bay, which is the largest city in vibrant Brevard County. Property is strategically located just off of Palm Bay Road, with close proximtiy to US1, Babcock Street & Interstate 95, which makes this property easily accessible to the surrounding Employers, Schools, Residential & Beaches that the area has to offer. A few of the surrounding employers include L3Harris, Raytheon, Leonardo DRS & UPS to name a few. Call today for details!
Agent
-
Office Phone: (321) 729-9900 ext. 17Mobile: (321) 258-7556
The information contained herein is from sources deemed reliable, but is subject to errors, omissions, and withdrawal without notice.