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Mixed-Use

Sarno Business Complex

2096 Sarno Rd, Melbourne, FL 32935

Listing Price: $14,500,000

Cap Rate
8.18%
Gross SF
138,549
Rentable SF
138,549
Price/Gross SF
$104.66
Lot Size
15.93 acres
Year Built
1962

Investment Overview

Offered with new financing or assumption of existing loan, Sarno Business Complex is a 137,349 rentable square foot office/ retail plaza located in Melbourne, Florida. The well-located mixed-use plaza is situated on 15.93 acres. The 30 current tenants include Brevard Health Alliance with 34,991 square feet, the newly-acquired Social Security Administration with 14,130 square feet and the Ad Leaf Marketing Firm with 10,046, DJJ with 8,300 square feet and Lincare with 4,030 square feet. Sarno is located at the signalized intersection of Sarno Road and Croton Road with 562 linear feet of Croton Road frontage and 690 linear feet of Sarno Road frontage. Sarno benefits from 21,000 vehicles daily on Sarno Road near various retail and office plazas: Melbourne Village Plaza, West Eau Gallie Shopping Center, Walmart Supercenter, PNC Bank, Consulate Health Care of Melbourne, McDonald’s and Dollar General. Located in the geographic center of Melbourne, the property is convenient to all parts of the city. It is near the Melbourne Airport, which is the fastest growing aerospace and high-tech location in Florida. The airport features the Florida Tech Research Park, which is home to several aerospace and aviation technology companies. Sarno Road connects subject property to US 1 and State Road 518, both main thoroughfares in the area. US 1 runs along the state's east coast and connects property to Key West due south and to Jacksonville due north. State Road 518 is a short but major east-west highway that crosses the Indian River to reach Indian Harbor Beach due east and reaches Interstate 95 due west.

Investment Highlights

  • 137,349 Rentable SF Office/Retail Plaza | Situated on Signalized Corner of 15.93 Acres
  • Value Add Opportunity at 93% Occupancy
  • Notable Retail Tenants Such as Family Dollar, Exxon and Sunoco Border the Property
  • 690+/- Feet of Direct Frontage Along Sarno Road With 21,00 Vehicles Daily
  • Quick Access to Interstate-95, US-1 and SR 518
  • Nationally Recognized Tenants in the Immediate Area Including Walmart Supercenter, McDonalds, PNC Bank, Walgreens, Staples, Old Time Pottery and ALDI
  • Ample Parking | 799 Spaces

Exclusively Listed By

Listing Price: $14,500,000

Cap Rate
8.18%
Gross SF
138,549
Rentable SF
138,549
Price/Gross SF
$104.66
Lot Size
15.93 acres
Year Built
1962

Investment Highlights

  • 137,349 Rentable SF Office/Retail Plaza | Situated on Signalized Corner of 15.93 Acres
  • Value Add Opportunity at 93% Occupancy
  • Notable Retail Tenants Such as Family Dollar, Exxon and Sunoco Border the Property
  • 690+/- Feet of Direct Frontage Along Sarno Road With 21,00 Vehicles Daily
  • Quick Access to Interstate-95, US-1 and SR 518
  • Nationally Recognized Tenants in the Immediate Area Including Walmart Supercenter, McDonalds, PNC Bank, Walgreens, Staples, Old Time Pottery and ALDI
  • Ample Parking | 799 Spaces

Investment Overview

Offered with new financing or assumption of existing loan, Sarno Business Complex is a 137,349 rentable square foot office/ retail plaza located in Melbourne, Florida. The well-located mixed-use plaza is situated on 15.93 acres. The 30 current tenants include Brevard Health Alliance with 34,991 square feet, the newly-acquired Social Security Administration with 14,130 square feet and the Ad Leaf Marketing Firm with 10,046, DJJ with 8,300 square feet and Lincare with 4,030 square feet. Sarno is located at the signalized intersection of Sarno Road and Croton Road with 562 linear feet of Croton Road frontage and 690 linear feet of Sarno Road frontage. Sarno benefits from 21,000 vehicles daily on Sarno Road near various retail and office plazas: Melbourne Village Plaza, West Eau Gallie Shopping Center, Walmart Supercenter, PNC Bank, Consulate Health Care of Melbourne, McDonald’s and Dollar General. Located in the geographic center of Melbourne, the property is convenient to all parts of the city. It is near the Melbourne Airport, which is the fastest growing aerospace and high-tech location in Florida. The airport features the Florida Tech Research Park, which is home to several aerospace and aviation technology companies. Sarno Road connects subject property to US 1 and State Road 518, both main thoroughfares in the area. US 1 runs along the state's east coast and connects property to Key West due south and to Jacksonville due north. State Road 518 is a short but major east-west highway that crosses the Indian River to reach Indian Harbor Beach due east and reaches Interstate 95 due west.

Exclusively Listed By

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