Dollar Tree

1595 Palm Bay Road Northeast, Palm Bay, FL

$1,272,000

Price

6.7%

Cap Rate

$85,207

NOI

Overview
Cap Rate
6.7%
NOI
$85,207
Building Size
8,115 sqft
Occupancy
100%
Tenancy
Single
Lease Expire Year
2027
Description

The subject property is prominently situated with excellent access and visibility at the lighted intersection of Palm Bay Road (37,000 AADT) and S Babcock Street (30,490 AADT). Babcock Street is a main thoroughfare that runs through the eastern portion of Palm Bay. It provides a direct route to Fellsmere in Indian River County from Brevard County.
The site is strategically situated within a dense retail corridor kiddy corner to an established Publix anchored retail center. Additional retail centers in the surrounding area include: CVS, Cumberland Farms, Bank of America, Applebee’s, Anytime Fitness, Wendy’s, Sun Trust Bank, McDonald’s, Burger King and more.

In addition, the property is located just over 5 miles from Melbourne International Airport, and 30 miles from Port Canaveral.

The Property also benefits from robust demographics with over 134,000 people and 55,862 households in a five mile radius. The average household income in a five mile radius is $64,612.

This property is listed in conjunction with Florida-licensed real estate broker Robert Long.

Highlights
  • Dollar Tree Stores, Inc. Corporate Guaranteed Lease (NASDAQ: DLTR)
  • Robust Demographics in Surrounding Area - Population of 134,134 within a 5 Mile Radius
  • Pandemic Proof Tenant Offering “Essential” Goods & Services
  • Strong Operating History with Three 5-Year Renewal Options with Scheduled Increases
  • Ideal Low Management Investment for a Passive, Out-of-State Investor
  • Located on Florida’s East Central Coast, Midway Between Jacksonville and Miami

Location
Gallery