For Sale
$5,500,000

700 Atlantis RdMelbourne, FL 32904

3 Buildings, 31,621 SF Flex Space

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a stabilized, multi-tenant industrial complex in Melbourne, Florida. Comprising three buildings totaling 31,621 square feet, constructed between 1995 and 1997, this property boasts 25 units, each under 2,500 square feet, perfectly catering to the high demand for smaller industrial spaces in Brevard County. The property sits on a 2.05-acre lot, strategically located directly across from Melbourne Airport, providing unparalleled access to major employers like Northrop Grumman, L3 Harris, and Embraer. Currently operating at 96.08% occupancy with a net operating income (NOI) of $334,288 and a pro-forma cap rate of 6.08%, this property offers a strong potential for rental growth due to the low vacancy rate (under 3%) for similarly sized spaces in the area. All leases are Net-Net (NN), minimizing landlord responsibilities and ensuring stable cash flow. The asking price is $5,500,000, translating to $173.94 per square foot and $220,000 per unit. This prime location within Brevard County ensures long-term value and strong investment potential. The property's APN is 27-37-31-27-*-5.

Highlights

  • Across from Melbourne Airport.
  • Small suites, mostly under 1,300 SF, max 2,500 SF.
  • Low 3% vacancy rate in Brevard County for comparable space.
  • Near major employers including Northrop Grumman, L3 Harris, and Collins Aerospace.
  • Strong demand supports rent growth.
  • Triple-net (NNN) leases.

Property Details for 700 Atlantis Rd

Property type
Industrial properties, Flex space
Square Feet
31,621 SF
Buildings
3
Lot Size (sq. ft)
89,298 SF
Units
25

Location Insight

City
Melbourne
County
Brevard
State
Florida
Latitude
28.0957834
Longitude
-80.6668862
700 Atlantis Rd, Melbourne, Florida

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
700 Atlantis Rd
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message