2575 Doreatha Fields Ave NE - Industrial FOR SALE


Palm Bay, FL 32905
$3,076,000 USD
772-539-1153
2575 Doreatha Fields Ave NE, Palm Bay, FL for Sale
$3,076,000 USD
Industrial - FOR SALE
1/5
null | 6% Cap Rate

2575 Doreatha Fields Ave NE
Palm Bay, FL 32905


HIGHLIGHTS

  • New Roof Replaced in 2020
  • Mission Critical Facilty
  • National Credit Tenant
  • NYSE: RSG
  • Structured Rent Increases Every 2 Years
  • 16 Billion in Annual Revenues

OVERVIEW

NATIONAL CREDIT TENANT Leased to Republic Services of Florida, an operating subsidiary of Republic Services, Inc. (NYSE: RSG), one of the largest publicly traded waste management companies in the United States. LONG-TERM NET LEASE WITH EXTENSIONS Initial 10-year net lease commenced August 2020 with approximately 4+ years remaining in the primary term and two (2) additional 2-year extension options. Tenant is responsible for taxes, insurance, and maintenance, resulting in minimal landlord responsibilities. SCHEDULED RENT INCREASES The lease includes a 3% scheduled rent increases every two years during the primary term and extension periods, providing contractual income growth over the remaining lease term. MISSION-CRITICAL INDUSTRIAL FACILITY Purpose-built industrial facility supporting Republic Services’ daily collection and service operations, reinforcing long-term tenant commitment to the location. LONG-TERM NET LEASE WITH EXTENSIONS Initial 10-year net lease commenced August 2020 with approximately 4+ years remaining in the primary term and two (2) additional 2-year extension options. Tenant is responsible for taxes, insurance, and maintenance, resulting in minimal landlord responsibilities. SCHEDULED RENT INCREASES The lease includes a 3% scheduled rent increases every two years during the primary term and extension periods, providing contractual income growth over the remaining lease term. LARGE INDUSTRIAL SITE Situated on approximately 3.41 acres, providing a meaningful land component and long-term real estate value. HIGH-GROWTH FLORIDA LOCATION Located in Palm Bay, Florida within Brevard County and Florida’s Space Coast region, an area experiencing strong population growth and expanding employment drivers. NATIONAL CREDIT TENANT Leased to Republic Services of Florida, an operating subsidiary of Republic Services, Inc. (NYSE: RSG), one of the largest publicly traded waste management companies in the United States.

FOR SALE DETAILS

PRICE

$3,076,000 USD

PRICE/SF

$262 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Republic Services - NNN Industrial

PROPERTY TYPE

Industrial

ADD'L SUBTYPES

Truck Terminal, Warehouse, Service

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1974

UTILITIES

-

CLEAR CEILING HT

16 Ft

DOCKS

-

DRIVE INS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

3.41

LAND SF

148,540

ZONING

Light Industrial (LI)

APN/PARCEL ID

28-37-14-00-00019.0-0000.00

ASK ABOUT THIS PROPERTY

Charles MoodyVero Capital GroupMore Info
772-539-1153

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Charles MoodyVero Capital GroupMore Info
772-539-1153

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.