A unique multifunction waterfront commercial/storage property! The 4 +/- acres vacant land, which has busy US-1 frontage and exposure, was purchased with the intention of creating a full service storage facility. The project was designed in two phases. During the first phase all of the development work for Phase 1 one and Phase II was completed including the site plans, zoning, sewer, electric etc. Phase one is completed and the property consists of one building that is currently leased to the admin office of the City of Grant (5 Year lease) and a Mini Storage building. The current rental income is $78,636.000 with expenses of $19,500 or a capitalization rate of on a purchase price of $1,495,000 equal to 3.9%. The significant investment opportunity for this property is to build 20,388 Square Foot the retail building, which will have frontage on US-1 and purchase 200 storage units on the balance of the land plus the purchase of two trucks to transport the storage units. The property is centrally located in Grant FL with Melbourne, Palm City and Indialantic to the North and Sebastian and Vero Beach to the South. Gross Rent Income $757,471.92 Expenses $268,024.00 Net Operating Income $489,447.92 Current price $1,495,000.00 Completion of Building on US-1 $ 800,000.00 Purchase Boxes $ 375,000.00 Purchase trucks $ 100,000.00 Total $2,770,000.00 Capitalization Rate 9.68% Note 1. Debt service $1,377,000 at 7% for 15 years= $1,48,524.00 included in expenses above. 2. $100,000 Management fee is included in expenses above.