MEDICAL SPA 1705 Berglund Ln, Melbourne FL

Listing was updated at: 04/23/2020
Property Overview
Price/Rent PSF $ 3,950,000.00
Asset Type Medical
Trade Type Sale
SQ. FT. Available 12,303
Date Available 11/01/2018
Parking Ample Parking
Commission Split 2.5% Commission
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REAL ESTATE ONLY FOR SALE with HIGH END MEDICAL SPA tenant with new 15 year lease with one 15 year renewal. Medical Doctor on staff. Building is being sold at an 7.7 CAP. Confidentiality and Non Disclosure Agreements required. Proof of Funds required. Do not disturb tenant. Building tours by appointment ONLY. New 15 year term commenced July 1, 2017 at $25,233.65 per month NNN- annual NNN rent is $302,803.80. There is one 15 year renewal with annual escalators of 2%. 2% Annual increase due July 1, 2018 to $308,859.00, CAP Rate of 7.9. High end Medi Spa building being sold at a 7.67 CAP Rate. The Medi Spa has been in business for over 15 years and is the premiere facility in Brevard County. The building was Built in 2009 to withstand a CAT 4 Hurricane. Poured concrete walls & concrete roof. Very high end build out. Located at Viera Blvd & Murrell Rd in the heart of explosive high end growth area of Viera. Near high end shopping & dining at The Avenue . New Interchange at I 95 & Viera Blvd is under construction 1/4 mile from site. Call Mike Jaffe at 321-258-3443 to discuss lease guarantee.