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Lake Drive Industrial Complex
1501-1503 Lake Drive
Cocoa, FL
9,450 Sq. Ft.
Property Facts
| Building Area: | 9,450 Sq. Ft. |
| No. of Units: | 9 Warehouse Units 1 Office Unit |
| Unit Range: | 1000 Sq. Ft. Warehouse Units |
| Year Built: | 1973 |
| Construction: | Enamel Steel Exterior Walls and Rigid Steel Truss |
| Roof: | Metal Roof |
| Ceiling Height: | Thirteen Feet |
| Lease Type: | Modified Gross |
Property at Purchase
| Purchase Price: | $310,000.00 |
| Purchase Price PSF: | $32.80 |
| Occupancy at Purchase: | 60% |
| Average Rent PSF At Purchase: | $4.50 PSF |
After Renovation and Transformation
| Cash Out Via Financing and Insurance Recovery: | $400,000.00 |
| Current Replacement Cost Value: | $185.00 PSF |
| Occupancy After One Year of Ownership: | 100.00% |
| Average Rent PSF After Renovation: | $10.00 PSF |
| Renovation Capital Expenditures: | $2.00 PSF |
| Return: | Infinite |
