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

$2,666,908

1400 Morningside Drive & 805 E Hibiscus Boulevard, Melbourne, FL 32901

Active
Last Updated: 03/30/2021

6.5

Cap Rate

173,349

NOI

Details:
Cap Rate:    6.5%
NOI:    $173,349
Building Size:    19,261 sqft
Lot Area:    1.32 acres
Lease Type:    Double Net
Year Built:    1978
Price Per Sqft:    $138.46
Roof & Structure :    Landlord Responsibility
Repairs, Maintenance, HVAC & Utilities :    Tenant’s Responsibility
Property Taxes, Insurance & Common Area :    Tenant's Responsibility
Highlights:
  • Paying Rent in Full During Pandemic Proving the Ability to Per form 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
  • Both Locations Are Strategically Located Just Off Hwy 1 Which is the Main North South Route Along the Atlantic Ocean Coast Line in Florida and Sees Over 43,637 VPD
  • Adjacent to Several Car Dealerships Like BMW, Honda and Volkswagen
  • Excellent Demographics With a Population of Over 127,855 Residents Making an Average Household Income of $70,476 Within a 5-Mile Radius
  • Less Than 1-Mile From the Health First ’s Holmes Regional Medical Center Hospital and the Regency Medical Off ice Park Complex
  • This Location Sits on the Banks of the Indian River and is a Short 10 Minutes to the Indialantic Beaches Along the Coast Line
  • Melbourne Square Mall With Anchors Like JCPenney, Dillard’s, Dick’s and Macy ’s is a Shor t 3.5-Miles Away
  • Just 2.5-Miles From the Orlando Melbourne International Airport and 3-Miles to the Andretti Thrill Amusement Park
  • Melbourne is Located About an Hour From Orlando and One Hour South of the Kennedy Space Center
  • Neighboring Tenants Include: Burger King, Wawa, Einstein Bros Bagels, Domino’s, Subway, McDonald’s, Big Lots, Sherwin-Williams, Tropical Smoothie and Dollar Tree
Description:

Sands Investment Group is Pleased to Exclusively Offer For Sale the 19,261 SF Gerber Collision & Glass Located at 1400 Morningside Drive & 805 E Hibiscus Boulevard in Melbourne, 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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