Skip to main content

Industrial Flex

Concurrent Utility Services

455 Gus Hipp Blvd, Rockledge, FL 32955

Listing Price: $2,875,000

Cap Rate
6.57%
Gross SF
4,380
Price/Gross SF
$656.39
Lot Size
2.07 acres
Year Built
1986
Rentable SF
4,380

Investment Overview

New 5-year NNN Lease | 3% Annual Rental Increases
- Built-in 5% Management Fee and Limited Landlord Responsibilities

Concurrent is a Multilocation Utilities Contractor Across Florida
- Customers Include Two of the Largest Investor-Owned Utilities
Companies in the U.S.

Mark to Market Opportunity | Lease Expires 10/2029
- No Options for Tenant to Extend

Strategically Positioned Along the Coast to Serve Customer Base
- Tenant Services Include Construction, Plant Hardening and Storm
Restoration Services

Hard to Find Industrial Outdoor Storage (IOS)
- Tight Industrial Submarket with Less than 4% Vacancy

Located along Florida’s Space Coast | Part of the Melbourne MSA
- Explosive Growth Driven by the Space and Technology Industries

Area Surrounded by National Demand Drivers
- Embraer, SpaceX, Northrup Grumman, Lockheed Martin, L3 Harris &
Patrick AFB

Quick Access to Major Thoroughfares
- 5-Minute Commute to Interstate-95 and US Highway 1

Strong Demographics | Nearly 100,000 Residents within 5-Miles
- One of the Fastest Growing Areas in the State

Investment Highlights

  • New 5-year NNN Lease | 3% Annual Rental Increases - Built-in 5% Management Fee and Limited Landlord Responsibilities
  • Concurrent is a Multilocation Utilities Contractor Across Florida - Customers Include Two of the Largest Investor-Owned Utilities Companies in the U.S.
  • Mark to Market Opportunity | Lease Expires 10/2029 - No Options for Tenant to Extend

Exclusively Listed By

Industrial Flex

Concurrent Utility Services

Listing Price: $2,875,000

Cap Rate
6.57%
Gross SF
4,380
Price/Gross SF
$656.39
Lot Size
2.07 acres
Year Built
1986
Rentable SF
4,380

Investment Highlights

  • New 5-year NNN Lease | 3% Annual Rental Increases - Built-in 5% Management Fee and Limited Landlord Responsibilities
  • Concurrent is a Multilocation Utilities Contractor Across Florida - Customers Include Two of the Largest Investor-Owned Utilities Companies in the U.S.
  • Mark to Market Opportunity | Lease Expires 10/2029 - No Options for Tenant to Extend

Investment Overview

New 5-year NNN Lease | 3% Annual Rental Increases - Built-in 5% Management Fee and Limited Landlord Responsibilities Concurrent is a Multilocation Utilities Contractor Across Florida - Customers Include Two of the Largest Investor-Owned Utilities Companies in the U.S. Mark to Market Opportunity | Lease Expires 10/2029 - No Options for Tenant to Extend Strategically Positioned Along the Coast to Serve Customer Base - Tenant Services Include Construction, Plant Hardening and Storm Restoration Services Hard to Find Industrial Outdoor Storage (IOS) - Tight Industrial Submarket with Less than 4% Vacancy Located along Florida’s Space Coast | Part of the Melbourne MSA - Explosive Growth Driven by the Space and Technology Industries Area Surrounded by National Demand Drivers - Embraer, SpaceX, Northrup Grumman, Lockheed Martin, L3 Harris & Patrick AFB Quick Access to Major Thoroughfares - 5-Minute Commute to Interstate-95 and US Highway 1 Strong Demographics | Nearly 100,000 Residents within 5-Miles - One of the Fastest Growing Areas in the State

Exclusively Listed By

MM Texture Background
MM Textured Background Lower