Contact info

• 813-960-0999 [Office] 

Description

Class "A" Medical Office in beautiful Merritt Island, Florida. Excellent frontage and visibility on a hard corner of Courtenay Parkway with over 32,000 cars per day ADTC. 88% occupied with Absolute Net Leases [Tenant responsible for Roof & Structure] and have annual CPI increases. The NOI security is excellent as rents are well below market. Re-tenanting creates instant upside if tenants do not renew leases. The building was built in 1983 of concrete block construction with flat mansard roofs which were replaced in 2004. There have been other major capital improvements completed in 2005-2006 including new flooring on the inside, exterior paint as well as a recently sealed parking lot. This building also recently won the 'Beautification Award' from Merritt Island Redevelopment Agency (MIRA) and was granted class A status from the city. In 2009 the owner invested in excess of $1,000,000 updating the building to house a outpatient Ambulatory Surgery Center. The site offers 76 parking sites at the building as well as additional parking on the 0.4 acre lot next door which is also part of the sale. This additional parking is leased to some tenants for added income for an investor. Building price details: $4,815,303.

Property Details

• Building Name:Merritt Island MOB
• Type: Office
• Use Types:Medical
• Status: Available
• Year Built: 1983
• Year Renovated: 2009
• MSA: Palm Bay-Melbourne-Titusville
• Buildings: 1

Exterior Features

• Parking: Yes
• Parking Spaces: 76

Terms

• Cash to Seller 

Agent

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