10055 102Nd TerSebastian, FL 32958

Property Details for 10055 102Nd Ter

Year built

1999

Construction

STEEL FRAME

Lot size

4.80 AC

Property size (Sq ft)

50,720 SF

Zone code

IL

Property type

Industrial properties

Property subtype

Distribution centers

APN

31-38-21-00002-0000-00002.0

APU

9223372036854775807

Description

This exceptional 50,720-square-foot industrial property in Sebastian, Florida, presents a compelling investment opportunity. Boasting a 6.68% capitalization rate and a strong net operating income (NOI) of $500,720, this two-story building, constructed in 1999, sits on a 4.8-acre lot and features a steel structure with concrete block exterior siding. The property is fully air-conditioned, equipped with fire sprinklers, and includes 30-foot ceilings, 10x14 and 10x10 bay doors, and interior mezzanines totaling approximately 11,165 square feet. Additional features include ample office space on the second floor accessible by passenger elevator and 61 marked parking spaces. Currently divided into two units with two tenants, the property benefits from a lease-back expiring 10 years post-closing. The property is zoned (IL) Industrial Light and enjoys county water and sewer services, along with FPL electricity. Real estate taxes for 2023 were $40,127.44. The asking price is $7,500,000, translating to $147.87 per square foot. This multi-tenant, NNN-leased property offers a stable income stream and significant potential for future growth. The property's location in Sebastian, Florida, provides easy access to major transportation routes and a growing market. This is a rare opportunity to acquire a high-performing industrial asset with significant upside potential.

• Alternative Use

  Use

  Valuation

  Residential

  $15,955,818

  Hospitality

  $14,615,444

  Educational

  $12,159,878

  Medical

  $12,578,074

  Retail

  $18,915,366

Location Insight

City

Sebastian

County

Indian River

State

Florida

Latitude

27.7753

Longitude

-80.539

CBSA code

42680

CBSA name

SEBASTIAN-VERO BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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