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1705 Berglund Lane - Viera Promenade - MEDI SPA, Melbourne, FL

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1705 Berglund Lane - Viera Promenade - MEDI SPA

Melbourne, FL 32940 - Brevard County Submarket

Property Type:Office Sub Type:Medical Status:Existing Year Built:2009
Stories:1 Typical Floor:12,303 SF Building Size:12,303 SF
For Sale Price:$3,950,000 Price/SF:$321.06
Cap Rate:7.67 %
Parking:Free Surface spaces are available; Ratio of 8.56/1,000 SF Amenities:Signage, Waterfront

Sale Notes:
New 15 year term commenced July 1, 2017 at $25,233.65 per month NNN- annual NNN rent is $302,803.80. There is one 15 year renewal with annual escalators of 2%. 2% Annual increase due July 1, 2018 to $308,859.00, CAP Rate of 7.9. High end Medi Spa b uilding being sold at a 7.67 CAP Rate. The Medi Spa has been in business for over 15 years and is the premiere facility in Brevard County.
The building was Built in 2009 to withstand a CAT 4 Hurricane. Poured concrete walls & concrete roof.
Vey high end build out.

Located at Viera Blvd & Murrell Rd in the heart of explosive high end growth area of Viera. Near high end shopping & dining at The Avenue . New Interchange at I 95 & Viera Blvd is under construction 1/4 mile from site. Call Mike Jaffe at 321-258-3443 to discuss lease guarantee.

Coldwell Banker Paradise Realtors
Mike Jaffe
(321) 951-3300

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