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438 Martin Road SE, Palm Bay, FL

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438 Martin Road SE

Palm Bay, FL 32909-4202 - Brevard County Ind Submarket

Property Type:Industrial Sub Type:Warehouse Status:Existing Year Built:1985
Building Size:4,920 SF Land Area:.56 AC (24,394 SF)
Ceiling Height:- Loading Docks:- Rail:- Power:-
For Sale Price:$285,500 Price/SF:$58.03
Cap Rate:6.83 %
Zoning:GC Sprinklers:- Drive Ins:6 tot. Cranes:-
Parking:16 Surface spaces are available; Ratio of 3.25/1,000 SF Amenities:Fenced Lot

Sale Notes:
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

Dreyer & Associates Real Estate Group
Michael E Dreyer
(321) 777-7743

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