222 Yellow Pl Rockledge, FL 32955
- Warehouses
- 13,500 SF
- 3.64 lot acres
Current Use by Public Records
- Warehouses
Property Details for 222 Yellow Pl
- Lot size
- 3.64 lot acres
- Property size
- 13,500 SF
- Property type
- Warehouses
- Property subtype
- Industrial properties
Description
This exceptional investment opportunity presents a 13,500-square-foot flex/warehouse property, currently leased to Kroger (NYSE: KR), under a 5-year absolute NNN lease commencing January 1, 2025, and expiring February 28, 2030, with a five-year option. The property, located at 222 Yellow Pl, Rockledge, FL 32955, sits on a 3.64-acre lot and includes substantial upgrades completed in 2025, funded by the tenant. The lease boasts a 6.25% cap rate and a $300,000 annual net operating income (NOI), with a 3% annual rent increase. The tenant, Kroger, is a credit-rated corporation with a corporate guarantee, providing significant financial security. This single-tenant building, constructed in 1987 and renovated in 2025, serves as a key distribution hub for East Central Florida, strategically located 2.5 miles from I-95, optimizing delivery within a 90-mile radius. The property is zoned IU (Light Industrial) and benefits from the strong economic growth of the Melbourne MSA, fueled by aerospace industries and tourism. This is a rare opportunity to acquire a high-quality, net-leased property with a strong tenant and significant upside potential. The sale is structured to facilitate a 1031 exchange.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Rockledge
- County
- Brevard
- State
- Florida
- Longitude
- -80.7044
- Latitude
- 28.2915
