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Gerber Collision & Glass | Double (NN) Net Lease Investment

$3,115,385

135 Palmetto Avenue, Merritt Island, FL 32953

Active
Last Updated: 09/20/2021

6.5

Cap Rate

202,500

NOI

Details:
Cap Rate:    6.5%
NOI:    $202,500
Building Size:    22,500 sqft
Lot Area:    1.97 acres
Lease Type:    Double Net
Year Built:    2001
Price Per Sqft:    $138.46
Roof & Structure :    Landlord’s Responsibility
HVAC:    Tenant’s Responsibility
Repairs & Maintenance:    Tenant’s Responsibility
Highlights:
  • Paying Rent in Full During Pandemic Proving the Ability to Perform at This Location
  • Corporate Guaranteed By Parent Company Boyd Group, Which is Publicly Traded on Toronto Stock Exchange
  • Gerber Collision Operates Over 500 Locations Across the United States
  • Strategically Located on Palmetto Avenue Which Runs Between Two Major Thoroughfares of E Merritt Island Causeway and N Courtenay Parkway Which Has a Combined Traffic Count of 74,273 VPD
  • Excellent Demographics With a Population of Over 88,981 Residents Making an Average Household Income of $76,152 Within a 5-Mile Radius
  • Cape Canaveral Air Force Station is an Installation of the United States Space Force’s 45th Space Wing and Known For Famous Space Launches of the First US Earth Satellite in 1958 and the First US Astronaut in 1961
  • Less Than 20 Minutes to the Famous Cocoa Beach Where Several Surfing Festivals Are Held and Bring in Over 100,000 Spectators Annually
  • Nearby Ulumay Wildlife Sanctuary is Approximately 1,500 Acres of Conservation Wetland Areas and Bird Preserve Surrounded By a Dike With Trails and Canals For Hiking and Paddling
  • Merritt Island is Located 1 Hour From Orlando, and 30 Minutes South of the Kennedy Space Center
  • Neighboring Tenants Include: Home Depot, Office Depot, Ross, Carrabba’s, Subway, Publix, Harbor Freight, Dollar General, Pizza Hut, Wendy’s, CVS Pharmacy and More
Description:

Sands Investment Group is Pleased to Exclusively Offer For Sale the 22,500 SF Gerber Collision & Glass Located at 135 Palmetto Avenue in Merritt Island, Florida. This Deal Includes a Tenant That Has Been Paying Rent in Full During the Pandemic Proving the Ability to Perform at This Location.






In Cooperation With SIG RE Services, LLC Lic. # CQ1055229

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