2720 Center Pl - Warehouse FOR SALE


Melbourne, FL 32940- Suburban Melbourne
$1,800,000 USD
407-557-3861
2720 Center Pl, Melbourne, FL for Sale
$1,800,000 USD
Warehouse - FOR SALE
1/3
null | 5.32% Cap Rate

2720 Center Pl
Melbourne, FL 32940
Suburban Melbourne


HIGHLIGHTS

  • • Fully Leased to Heritage Pool Supply Group - Wholly Owned Subsidiary of SRS Distribution | Heritage Supply Brand
  • • One of the Largest and Fastest Growing Pool Supply Distributors - 150+ Locations Across 36 States | Rapid Expansion Since 2021
  • • Parent Company Recently Acquired by Home Depot (NYSE: HD) - SRS Distribution was Acquired in 2024 for Approximately $18.25B
  • • Original 5-Year NNN Lease | Minimal LL Responsibilities - 11% Rental Increase in the Remaining Five-Year Option | April ‘27
  • • Longstanding Tenant with 15+ Years of Historical Occupancy - Established Market Presence | Continued Lease Renewals
  • • Below Market Rents with Near-Term Future Upside - Current Rents: $8.47/ft | CoStar Estimated Market Rents: $13.49/ft

OVERVIEW

• Fully Leased to Heritage Pool Supply Group - Wholly Owned Subsidiary of SRS Distribution | Heritage Supply Brand • One of the Largest and Fastest Growing Pool Supply Distributors - 150+ Locations Across 36 States | Rapid Expansion Since 2021 • Parent Company Recently Acquired by Home Depot (NYSE: HD) - SRS Distribution was Acquired in 2024 for Approximately $18.25B • Original 5-Year NNN Lease | Minimal LL Responsibilities - 11% Rental Increase in the Remaining Five-Year Option | April ‘27 • Longstanding Tenant with 15+ Years of Historical Occupancy - Established Market Presence | Continued Lease Renewals • Below Market Rents with Near-Term Future Upside - Current Rents: $8.47/ft | CoStar Estimated Market Rents: $13.49/ft • Florida’s Space Coast Home to Top Space/Aeronautics Companies - SpaceX, Blue Origin, Boeing, Lockheed Martin & L3 Harris • Melbourne, FL MSA | One of the Fastest Growing Areas in FL - Over 250,000 Residents within a 10-mile Radius • Florida is an Income Tax Free State - Ideal Passive Investment for Out of Market Ownership • Surrounded by National Industrial Tenants in Dense Trade Area - TruGreen Lawn Care, Gulfeagle Supply, 84 Lumber, ProSource, Etc.

FOR SALE DETAILS

PRICE

$1,800,000 USD

PRICE/SF

$159 USD /SF

CAP RATE

5.32%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Heritage Pool Supply | SRS Distribution

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1989

UTILITIES

-

CLEAR CEILING HT

18 Ft

DOCKS

1

DRIVE INS

2

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.96

LAND SF

41,818

ZONING

IU, County

APN/PARCEL ID

26-37-30-50-00000.0-0009.00

ASK ABOUT THIS PROPERTY

Rory ShelbyMarcus & MillichapMore Info
407-557-3861

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

Rory ShelbyMarcus & MillichapMore Info
407-557-3861

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