UPS NNN Industrial
For Sale
$14,000,000
2730 Kirby Cir NE, Palm Bay, FL 32905
Large industrial asset with an NNN structure and Industrial (LI) zoning.
Property Size99,000 SF
Price / SF$141.41
Days on Market89
Property Features for 2730 Kirby Cir NE
General Information
Standard status
Active
Size
99,000 SF
Property subtype
Office Warehouse
Amenities
• Corporate Lease with United Parcel Service, Inc - One of the World's Largest Shipping Couriers
• Publicly Traded Tenant (NYSE: UPS) | Fortune 500 Company - $88.7 Billion 2025 Revenue | Historically Ranked in the top 5
• New 5-Yr NNN Lease | Fair Market Value Renewal Option - 3% Annual Rental Increases | Minimal Landlord Responsibilities
• Below Market Rents with Near-Term Future Upside - Current Rents: $7.95/ft | CoStar Estimated Rents: $11.62/ft+
• Longstanding Tenant with 40+ Years Historical Occupancy - Established Market Prescence | Continued Lease Renewals
• Proximity to Major Transportation Corridors | I-95 & U.S. 1 - Enables Efficient Delivery Capabilities | 6 Miles to MLB Airport
• Highly Functional Site Configuration and Building Layout - Wraparound Truck Court, Ingress/Egress, Fuel Island, Drive-In Bays
• Florida's Space Coast Home to Top Space/Aeronautics Companies - SpaceX, Blue Origin, Boeing, Lockheed Martin & L3 Harris
Building Details
Building Size
99,000 SF
Year Built
1978
Listing Agency:
Marcus & Millichap - Orlando
Listed By:
Rory Shelby · License #License(s): FL: SL3343473
(407) 557-3861
Source:
Marcusmillichap
Added: Jun 16
Changed: Sep 8
Last Checked: Sep 10 at 5:12AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Orlando
Investment Insights
Based on property information with market context.
This 99,000-square-foot industrial property in Palm Bay was built in 1978 and carries Industrial (LI) zoning. The offering is identified with United Parcel Service, Inc. and is structured as an NNN property.
The asset is located at 2730 Kirby Cir NE, Palm Bay, FL 32905. Its industrial classification and substantial building area support its positioning as a warehouse or distribution-oriented commercial property.
The asset is located at 2730 Kirby Cir NE, Palm Bay, FL 32905. Its industrial classification and substantial building area support its positioning as a warehouse or distribution-oriented commercial property.
Key Highlights
- 99,000‑square‑foot industrial property
- NNN structure
- Industrial (LI) zoning
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$1,060,795
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.58%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$21,215,900
$21.2M
Cap Rate 7%
$15,154,214
$15.2M
Cap Rate 9%
$11,786,611
$11.8M
Market Conditions
NOI Build-Up for 99,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$1.31M $13.20/SF
− Vacancy
−$58.8K −$0.59/SF
EGI
$1.25M $12.61/SF
− OpEx
−$187.2K −$1.89/SF
NOI
$1.06M $10.72/SF
Area
Palm Bay, FL
Vacancy
4.50%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$21,215,900
Cap Rate 7%
$15,154,214
Cap Rate 9%
$11,786,611
Alternative Uses
Best Use
Warehouse
$15.15M
$13.26M – $17.68M
NOI $1,060,795 @ 7.0% cap · market cap 7.58%
Second Best
Industrial
$13.54M
$11.85M – $15.80M
NOI $948,024 @ 7.0% cap · market cap 6.77%
Theoretical Best
Office A
$26.12M
$22.85M – $30.47M
NOI $1,828,332 @ 7.0% cap · market cap 13.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
451
Businesses Nearby
Explore this area
Business Placement
Demographics for 32905, FL
26,064
Population
12,635
Households
2.1
Avg Household Size
45
Median Age
27%
College-Educated
91%
High-School Grad
9.7 sq mi
ZIP Area
2,687
Density / Sq Mi
$56,671
Median Household Income
$31,688
Median Earnings
$1,361
Median Rent
$206,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
NNN property - Large industrial asset with an NNN structure and Industrial (LI) zoning.
Where is this nnn property located?
The property is located at 2730 Kirby Cir NE Palm Bay, FL.
What is the asking price?
The asking price for this property is $14,000,000.
What are key features of this property?
This property features: 99,000‑square‑foot industrial property; NNN structure; Industrial (LI) zoning
