222 Yellow PlRockledge, FL 32955

Property Details for 222 Yellow Pl

Lot size

3.64 AC

Property size (Sq ft)

13,500 SF

Property type

Warehouses

Property subtype

Industrial properties

Description

This exceptional investment opportunity presents a 13,500-square-foot flex/warehouse property, currently leased to Kroger (NYSE: KR), under a 5-year absolute NNN lease commencing January 1, 2025, and expiring February 28, 2030, with a five-year option. The property, located at 222 Yellow Pl, Rockledge, FL 32955, sits on a 3.64-acre lot and includes substantial upgrades completed in 2025, funded by the tenant. The lease boasts a 6.25% cap rate and a $300,000 annual net operating income (NOI), with a 3% annual rent increase. The tenant, Kroger, is a credit-rated corporation with a corporate guarantee, providing significant financial security. This single-tenant building, constructed in 1987 and renovated in 2025, serves as a key distribution hub for East Central Florida, strategically located 2.5 miles from I-95, optimizing delivery within a 90-mile radius. The property is zoned IU (Light Industrial) and benefits from the strong economic growth of the Melbourne MSA, fueled by aerospace industries and tourism. This is a rare opportunity to acquire a high-quality, net-leased property with a strong tenant and significant upside potential. The sale is structured to facilitate a 1031 exchange.

Location Insight

City

Rockledge

County

Brevard

State

Florida

Latitude

28.2915

Longitude

-80.7044

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