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Heritage Pool Supply | SRS Distribution 2720 Center Pl 11,320 SF Industrial Building Melbourne, FL 32940 $1,800,000 ($159.01/SF) 5.32% Cap Rate
Investment Highlights
- • Fully Leased to Heritage Pool Supply Group - Wholly Owned Subsidiary of SRS Distribution | Heritage Supply Brand
- • Parent Company Recently Acquired by Home Depot (NYSE: HD) - SRS Distribution was Acquired in 2024 for Approximately $18.25B
- • Longstanding Tenant with 15+ Years of Historical Occupancy - Established Market Presence | Continued Lease Renewals
- • One of the Largest and Fastest Growing Pool Supply Distributors - 150+ Locations Across 36 States | Rapid Expansion Since 2021
- • Original 5-Year NNN Lease | Minimal LL Responsibilities - 11% Rental Increase in the Remaining Five-Year Option | April ‘27
- • Below Market Rents with Near-Term Future Upside - Current Rents: $8.47/ft | CoStar Estimated Market Rents: $13.49/ft
Executive Summary
• Fully Leased to Heritage Pool Supply Group
- Wholly Owned Subsidiary of SRS Distribution | Heritage Supply Brand
• One of the Largest and Fastest Growing Pool Supply Distributors
- 150+ Locations Across 36 States | Rapid Expansion Since 2021
• Parent Company Recently Acquired by Home Depot (NYSE: HD)
- SRS Distribution was Acquired in 2024 for Approximately $18.25B
• Original 5-Year NNN Lease | Minimal LL Responsibilities
- 11% Rental Increase in the Remaining Five-Year Option | April ‘27
• Longstanding Tenant with 15+ Years of Historical Occupancy
- Established Market Presence | Continued Lease Renewals
• Below Market Rents with Near-Term Future Upside
- Current Rents: $8.47/ft | CoStar Estimated Market Rents: $13.49/ft
• Florida’s Space Coast Home to Top Space/Aeronautics Companies
- SpaceX, Blue Origin, Boeing, Lockheed Martin & L3 Harris
• Melbourne, FL MSA | One of the Fastest Growing Areas in FL
- Over 250,000 Residents within a 10-mile Radius
• Florida is an Income Tax Free State
- Ideal Passive Investment for Out of Market Ownership
• Surrounded by National Industrial Tenants in Dense Trade Area
- TruGreen Lawn Care, Gulfeagle Supply, 84 Lumber, ProSource, Etc.
- Wholly Owned Subsidiary of SRS Distribution | Heritage Supply Brand
• One of the Largest and Fastest Growing Pool Supply Distributors
- 150+ Locations Across 36 States | Rapid Expansion Since 2021
• Parent Company Recently Acquired by Home Depot (NYSE: HD)
- SRS Distribution was Acquired in 2024 for Approximately $18.25B
• Original 5-Year NNN Lease | Minimal LL Responsibilities
- 11% Rental Increase in the Remaining Five-Year Option | April ‘27
• Longstanding Tenant with 15+ Years of Historical Occupancy
- Established Market Presence | Continued Lease Renewals
• Below Market Rents with Near-Term Future Upside
- Current Rents: $8.47/ft | CoStar Estimated Market Rents: $13.49/ft
• Florida’s Space Coast Home to Top Space/Aeronautics Companies
- SpaceX, Blue Origin, Boeing, Lockheed Martin & L3 Harris
• Melbourne, FL MSA | One of the Fastest Growing Areas in FL
- Over 250,000 Residents within a 10-mile Radius
• Florida is an Income Tax Free State
- Ideal Passive Investment for Out of Market Ownership
• Surrounded by National Industrial Tenants in Dense Trade Area
- TruGreen Lawn Care, Gulfeagle Supply, 84 Lumber, ProSource, Etc.
Data Room Click Here to Access
Property Facts
| Price | $1,800,000 | Rentable Building Area | 11,320 SF |
| Price Per SF | $159.01 | No. Stories | 1 |
| Sale Type | Investment NNN | Year Built/Renovated | 1989/2005 |
| Cap Rate | 5.32% | Tenancy | Single |
| Property Type | Industrial | Parking Ratio | 0.71/1,000 SF |
| Property Subtype | Warehouse | Clear Ceiling Height | 18’ |
| Building Class | C | No. Dock-High Doors/Loading | 1 |
| Lot Size | 0.96 AC | No. Drive In / Grade-Level Doors | 2 |
| Zoning | IU, County | ||
| Price | $1,800,000 |
| Price Per SF | $159.01 |
| Sale Type | Investment NNN |
| Cap Rate | 5.32% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 0.96 AC |
| Rentable Building Area | 11,320 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1989/2005 |
| Tenancy | Single |
| Parking Ratio | 0.71/1,000 SF |
| Clear Ceiling Height | 18’ |
| No. Dock-High Doors/Loading | 1 |
| No. Drive In / Grade-Level Doors | 2 |
| Zoning | IU, County |
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Property Taxes
| Parcel Number | 26-37-30-50-00000.0-0009.00 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $817,680 |
Property Taxes
Parcel Number
26-37-30-50-00000.0-0009.00
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$817,680
Contacts
-
Rory Shelby -
Scott Gould -
Christopher Biuso -
Spencer Koch -
Jacob Vandenburg -
Marcus & Millichap
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Heritage Pool Supply | SRS Distribution | 2720 Center Pl
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