4343 Fortune Pl
West Melbourne, FL 32904
Parsons Corporation | NYSE:PSN | ABS NNN · Flex Property For Sale

Marcus & Millichap’s TC Retail Group is pleased to present the opportunity to acquire a well-located, institutional-quality asset at an attractive basis well below current replacement cost, with pricing at approximately $207 per square foot. The property is leased on an absolute NNN basis, providing investors with stable, predictable cash flow and no landlord responsibilities, as the tenant reimburses all operating and capital expenses.
The investment offers strong in-place returns with built-in rent growth, featuring a Year 1 cap rate of 6.75% and a blended cap rate of 7.17%, supported by scheduled annual rent increases that drive yield throughout the remaining lease term and option periods. Over the hold period, rent escalations increase annual rental income from $126,000 to $169,334, offering a meaningful hedge against inflation while enhancing total return.
Tenant rent levels remain well supported by operations, with gradual step-ups that mitigate rollover risk at expiration and help maintain favorable coverage ratios. The property is leased to Parsons Service Company, a nationally recognized engineering and professional services firm with long-standing operations, providing additional credit strength and income durability.
Located in West Melbourne, the asset benefits from strong area fundamentals driven by a diverse employment base including aerospace, defense, engineering, healthcare, and technology. The property is strategically positioned near I-95, US-192, and US Highway 1, offering excellent regional access throughout Brevard County and Florida’s Space Coast. These fundamentals support sustained demand for industrial and flex space and reinforce the long-term investment appeal of the offering.