Prime Industrial Development Property-Space Coast Brevard County-West Melbourne Florida.

Description

. 18.76+- Gross Acres at 825 South John Rodes Blvd West Melbourne Florida 500+- FT South of the corner of John Rodes Blvd and Ellis Road. Property on the East Side of the road

.The Subject property is zoned M-1 light Industrial in the City of West Melbourne

.The property has great highway exposure with

631+FT of frontage on John Rodes Blvd which is a two lane asphalt paved road

.There is 3.89+ Ac of wetland on the property per past environmental study. The wetlands could possible be incorporated into on-site storm water retention or mitigated.

.There appear to be no adverse easement or encroachments on the the property.

.There is currently a Lamar Bill Board-Lease on the property payable at $3,000 annually. The lease renews annually on July 1 to June 30th and was just renewed. The renewal period concludes 6-30-2024. Termination notice is 60 days prior to to the conclusion of the term.

The subject property-neighborhood is an approximate six square mile area located in the City of West Melbourne. It extends two miles

East to West, and three miles North to South. The North boundary is Sarno Road and the South Boundary is US 192. The East boundary is Evans Road and the West boundary is I-95. The neighborhood features a variety of land uses. However, most fall within a broad range of commercial and light-industrial classifications.

The North boundary, Sarno Road, is a connector road between Wickham Road and I- 95 to the West, with US 1 to the East. The South boundary is US 192, which is a major East to West artery connecting US 1 and the beaches to the East, with I 95 and the central Florida City of Kissimmee-Orlando to the West. John Rodes Boulevard connects US 192 with Aurora Road to the North. Ellis Road is slated for widening from two to four lanes in the near future with an new interchange recently completed less than 1⁄4 mile Northwest with I-95 which is signalized.

Residential sectors of the neighborhood are comprised of nice dwellings located East and West of Wickham Road and East of John Rodes Boulevard.

Commercial development is clustered along the main thoroughfares of Wickham Road, Ellis Road, US 192 and Sarno Road. Properties include retail businesses, professional offices, restaurants, gas stations, strip centers, warehouses and convenience stores.

Occupancy levels appear to be in the 90% range and the area is approximately 75% built up. Neighborhood residents appear to be the primary clientele for the majority of the commercial enterprises. The main retail areas serving South Brevard are located in along US 192 and US1. The areas North and South of Ellis Road in the vicinity of the subject are developed with light-industrial of good good quality ranging in age from 25-years old to new. The area has several large - scale industrial parks which are becoming almost 100% built out. These parks saw rapid development in the 1980's with a slow-down in the early 90's then rapid development until 2008 ending at the beginning of the national recession. However, the area is now seeing new industrial development within rising rents and values; making the property and excellent investment opportunity.