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ERG Property Advisors Closes on NNN Applebee's in Melbourne, FL
ERG Property Advisors is pleased to announce the sale of 3001 W. Eau Gallie Blvd. in Melbourne, FL. The asset contains a Net Leased Applebee’s and most notably fetched a capitalization rate of 6.85%.
The tenant has an absolute triple net lease for a 5,606 SF building located on an 84,506 SF lot.
The property sold for $2,950,297 which represents a cap rate of 6.85%. Andrew Greenberg, Senior Director of Retail for ERG Property Advisors represented the buyer. Stephen Counts of Calkain Companies represented the seller.
For more information about this property, please contact or Andrew Greenberg at (646) 253-0950 his email is email@example.com.
About ERG Property Advisors
ERG Property Advisors is a full-service commercial brokerage company based in New York City. Our core activities are investment sales, mortgage brokerage and direct capital services. While focused on the broader New York City area as a company, ERG also offers specific market knowledge at the submarket level. Beyond core New York City properties,ERG’