Pruitt Real Estate Commercial Group
"EXPERIENCE = RESULTS!"
Contact Info - Tel: (321)723-1147 \ Fax: (321)723-1484 / Send eMail
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BREVARD COUNTY
CLASS A OFFICE SPACE
DEFINITION
Class A: A classification used to describe buildings that generally qualify as extremely desirable investment-grade properties and command the highest rents or sale prices compared to other buildings in the same market. Such buildings are well located and provide efficient tenant layouts as well as high quality and in some buildings one-of-a-kind floor plans. They can be an architectural or historical landmark designed by prominent architects. These buildings contain a modern mechanical system, and have above-average maintenance and management as well as the best quality materials and workmanship in their trim and interior fittings. They are generally the most attractive and eagerly sought by investors willing to pay a premium for quality.
Pricing: Class A Space - $15.50/sf to $23/sfAverage Base Rent: $19.50
BREVARD COUNTY
CLASS B OFFICE SPACE
DEFINITION
Class B: A classification used to describe buildings that generally qualify as a more speculative investment and, as such, command lower rents or sale prices compared to Class A properties. Such buildings offer utilitarian space without special attractions and have ordinary design, if new or fairly new; good to excellent design if an older non-landmark building. These buildings typically have average to good maintenance, management and tenants. They are less appealing to tenants than Class A properties, and may be deficient in a number of respects including floor plans, condition, and facilities. They lack prestige and must depend chiefly on a lower price to attract tenants and investors.
Pricing: Class B Space - $10/sf to $18/sf
Average Base Rent: $12.75
BREVARD COUNTY
CLASS C OFFICE SPACE
DEFINITION
Class C: A classification used to describe buildings that generally qualify as no-frills, older buildings that offer basic space and command lower rents or sale prices compared to other buildings in the same market. Such buildings typically have below-average maintenance and management and could have mixed or low tenant prestige, inferior elevators and/or mechanical/electrical systems. These buildings lack prestige and must depend chiefly on a lower price to attract tenants and investors.
Average Base Rent: $10.25
BREVARD COUNTY
CLASS A
WAREHOUSE SPACE
DEFINITION
The Warehouse Category is made up of those buildings whose primary purpose is that of manufacturing, distribution and/or storage. These buildings are generally made up of open, undivided space with little or no air conditioned office space. These buildings are most typically owner-occupied or occupied by a single tenant. Construction is generally of concrete or metal and they generally include higher clear ceiling height and, in most cases, loading docks or truck wells.
Class A: The newest buildings with the most amenities in the best locations. They generally are the best looking buildings made with the highest quality materials and construction methods. Additionally, these buildings usually have a professional manager, good access and are typically located in highly visible areas on high traffic streets. Due to their exceptional quality, Class A Buildings usually contain high quality tenants and the highest rental rates in the market.
Pricing: Class A Space – Climate Controlled - $9/sf to $11.20/sf
Average Base Rent: $9.25
BREVARD COUNTY
CLASS B
WAREHOUSE SPACE
DEFINITION
Class B: These buildings are a grade below Class A. Generally, they are slightly older buildings that still possess good management and quality tenants. It is not uncommon for value-added investors to target these buildings with the intention of renovating them back into Class A Buildings. Class B Buildings are well maintained without any functional obsolescence.
Pricing: Class B Space - $5/sf to $10/sf
Average Base Rent: $6.75
BREVARD COUNTY
CLASS C
WAREHOUSE SPACE
DEFINITION
Class C: This is the lowest grade for useable office buildings. These older office buildings (typically 20+ years) are located on less desirable streets in older sections of the city. Many of these buildings have higher than average vacancy rates for their market. Older, less desirable architecture, limited infrastructure and antiquated technology define these buildings. For these reasons, Class C buildings offer lower rental rates and are more difficult to lease. Many times these buildings are targeted for re-development.
Pricing: Class C Space - $3/sf to $7/sf
Average Base Rent: $5.50
- US1 Commercial - Pruitt Real Estate, Inc.
- 10 So. Harbor City Blvd.
- Melbourne, FL 32901
- Tel: (321)723-1147
- Fax: (321)723-1484
