For Sale
$300,000

2115 Palm Bay RdPalm Bay, FL 32905

Prime Office Condo: 1,150 SF, 6% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional Class A office condo, located at 2115 Palm Bay Road NE, Unit 3E, Palm Bay, FL 32905, presents a unique investment opportunity. The 1,150 square foot single-unit property, built in 1981, sits on a 5,227.2 square foot lot and boasts a 6.00% cap rate. Currently 100% occupied with a month-to-month tenant paying $1,650, offering flexibility for owner-occupancy or continued rental income. The space is efficiently designed with three separate offices, a general open area, and one bathroom. A new AC unit was installed in 2023. The property benefits from a highly desirable location on bustling Palm Bay Road NE, providing easy access to US-1 and I-95, placing it near L3-Harris and other prominent businesses. The HOA fee of $224.40 per month covers water, sewer, trash, exterior insurance, and common area electric. Owner financing is available with a minimum 10% down payment and a 5-year balloon mortgage. This presents a compelling opportunity for both investors and owner-users seeking a strategically located, well-maintained office space in a thriving area. The property's proximity to the Orlando-Melbourne International Airport (a short 15-minute drive) further enhances its appeal. This is a rare chance to acquire a turnkey office space in a prime location with excellent potential for growth and return on investment.

Property Details for 2115 Palm Bay Rd

Property type
Office properties
Square Feet
1,150 SF
Class
A
Year Built
1981
Stories
1
Units
1

Location Insight

City
Palm Bay
County
Brevard
State
Florida
Latitude
28.0356727
Longitude
-80.6107236
2115 Palm Bay Rd, Palm Bay, Florida

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2115 Palm Bay Rd
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