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30103967
30103973

255 Fortenberry Rd, Merritt Island, FL 32952

JP
FL SL3619802
Watson Commercial Real Estate, Inc.
Listed by Watson Commercial Real Estate, Inc.
$1,160,000
91 days on market
Updated 3 days ago

Fortenberry Medical Condo

Details
Property Type Office
Sub Type Medical Office
Square Footage 5,550
Net Rentable (SqFt) 5,550
Units 1
Cap Rate 8.37%
NOI $97,125
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Term 3
Lease Expiration 08/31/2028
Remaining Term 2.2
Rent Bumps Yes
Price per SqFt $209
Year Built 1974
Year Renovated 2023
Buildings 1
Stories 1
Zoning BU-1
Investment Type Net Lease
Lease Commencement 09/01/2025
Occupancy Date 09/01/2025

Medical Office | 8.37% CAP | 5,550 SqFt

Marketing description

Introducing an exceptional investment opportunity at 255 Fortenberry Rd Unit A1, Merritt Island, FL 32952. This established medical office boasts an impressive 8.4% Cap Rate, making it a lucrative income-producing asset. With a prime location near Merritt Island's new Health First Hospital, this 5,550 SF property is well-positioned for success. Featuring six fully built-out exam rooms, a spacious waiting room with a reception area, dedicated lab and nursing stations, and multiple physician offices, this comprehensive medical suite is ideal for healthcare professionals looking to expand their practice. The property's zoning as BU-1 offers commercial flexibility, enhancing its investment appeal. Don't miss your chance to acquire this turnkey medical asset in a high-traffic area with a promising demographic profile. Take advantage of this opportunity to own a successful medical office in a strategic location.

Listing Contacts

JP
FL SL3619802
Watson Commercial Real Estate, Inc.
Listed by Watson Commercial Real Estate, Inc.

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$97,125.00
$8,093.75/mo

Valuation Metrics

0
DSCR
8.37%
Cap Rate
8.37%
ROI

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Additional Information

Name
Jackie Pope
License
SL3619802
Brokerage
Watson Commercial Real Estate
Title
Sales Associate
Brokerage Address
335 South Plumosa Street
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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