595 N. Courtenay Parkway, Merritt Island, FL 32953 detailed description
Commercial property for sale
595 N. Courtenay Parkway, Merritt Island, FL 32953
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- 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
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Building Name: Merritt Island MOB Property Type: Office Use Types: Medical Status: Available Number of Stories: 2 Year Built: 1983 Year Renovated: 2009 MSA: Palm Bay-Melbourne-Titusville Buildings: 1 Terms: Cash to Seller Added: 07/20/2012 Last Update: 05/17/2013 - Exterior Features
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Parking: Yes Parking Spaces: 76 - Contact info
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John T. Milsaps, Jr.: 813-960-0999 [Office] Century 21 Elite Locations
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- Note
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Details Info about this row that located on 595 N. Courtenay Parkway, Merritt Island, FL 32953 was got from trusty sources, but Florida Condo Auctions can't guarantee that details about listing price, status, facts, images and owner are correct, because this listing can be changed or removed from market without notice. If You need to receive additional details about this property try to ask directly listing agent or owned.
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