COOKIES STRIP 1300 Palm Bay Rd
4,205 SF 100% Leased Retail Building Palm Bay, FL 32905 £2,177,946 (£517.94/SF) 7.30% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Passive Lease Structure: NNN recovery structure across all leases. Tenants pay for taxes, insurance, and common area maintenance of the building.
- High Yielding Investment: This investment is offered at an appealing 7.30% CAP rate and all tenants in the strip center have annual rental increases.
- Proximity to Highway: Subject property is located approximately 1.2 Miles East from the I-95 Ramp.
- Long-Term Billboard Income (Digital): The property contains a Digital Clear Channel Billboard lease that has over 8 years remaining on the lease.
- Established Tenant: Bizzarro’s Pizza has been a successful, longstanding tenant at this location for nearly 20 years, demonstrating strong customer.
EXECUTIVE SUMMARY
Broker of Record
Kyle Matthews
License No. CQ1066435 (FL)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
1600 West End,
Ste. 1500 Nashville, TN 37203
Kyle Matthews
License No. CQ1066435 (FL)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
1600 West End,
Ste. 1500 Nashville, TN 37203
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
4,205 SF
Building Class
B
Year Built/Renovated
1981/2024
Price
£2,177,946
Price Per SF
£517.94
Net Initial Yield
7.30%
NOI
£158,990
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.14
Lot Size
0.68 AC
Zoning
CC - Commercial
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 28-37-21-50-01692.0-0001.00 | Improvements Assessment | £164,891 |
| Land Assessment | £194,717 | Total Assessment | £359,608 |
