599 Sherwood Ave

Description

599 Sherwood Avenue is a multi-tenant office building totaling approximately 5,951 square feet (per property appraisal) on a 0.41-acre parcel in Satellite Beach, Florida, with a gross leasable area of 5,411 square feet. The single-story structure includes 16 suites with private entrances, flexible configurations, private restrooms, and direct surface parking. The property is located just off South Patrick Drive (20,000+ average daily traffic) and one block from State Road A1A. It is approximately 5–10 minutes drive from Patrick Space Force Base, 25–30 minutes from Cape Canaveral Space Force Station/SpaceX facilities, and under 5 minutes from public oceanfront beach access points in Satellite Beach. Current occupancy is 81.5% by square footage (13 occupied suites totaling 4,408 square feet), with a tenant mix consisting of wellness and beauty services (massage therapy, hair salons, wax and nail studios, head spas), professional services (real estate brokerage, insurance agency), and specialty retail (bowling equipment pro shop, pottery studio, boutique). Priced at $1,400,000 (~$235.26 PSF based on total building area), the asset provides an income base with potential for stabilization through lease-up of three available suites (~333 square feet average).

599 Sherwood Avenue is situated just off South Patrick Drive, a north-south corridor in Satellite Beach, and less than one block from State Road A1A. Daily traffic counts on South Patrick Drive exceed 20,000 vehicles. The property is approximately 5–10 minutes drive from Patrick Space Force Base (adjacent to Satellite Beach), 25–30 minutes from Cape Canaveral Space Force Station and SpaceX-related facilities, and 15 minutes from the Pineda Causeway connecting to I-95 and Melbourne Orlando International Airport. The surrounding area includes residential neighborhoods, public schools, and office uses. Satellite Beach has multiple public beach access points within a short distance east.

Documents