New York, NY, December 14, 2012 --(PR.com
)-- 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 agreenberg at ergpa.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’s Retail Division specializes in the disposition of commercial investment real estate property nationally with a focus on freestanding Net-Lease properties. In addition to assisting property owners and prospective buyers, ERG provides banks, appraisers, attorneys, and accountants with information and skill sets that support them in their respective roles. Through strategic alliances with select companies we are able to offer our clients access to mortgage brokerage, direct capital services and investment sales brokerage.