For Sale
$1,275,000

0 5Th AveIndialantic, FL 32903

Prime Beachfront Retail Investment. High ROI Potential.

Overview

Added:
Dec 11, 2024
Days on market:
114
Indialantic Plaza presents a compelling value-add investment opportunity in the highly desirable Indialantic, Florida market. This 4,233 square foot, single-story shopping center, built in 1952 and renovated in 2015, sits on a 0.35-acre lot zoned C1. The property boasts 100% occupancy with four local tenants currently under gross leases, offering immediate cash flow and significant upside potential due to below-market rents. The property's strong financial performance is reflected in its pro-forma NOI of $103,632 and an 8.13% pro-forma cap rate. Located on 5th Avenue, this retail center benefits from its prime location, walking distance to the beach, and high foot traffic in a market with a retail vacancy rate below 3%. The inclusion of a valuable rear parking lot further enhances its appeal in an area with limited parking availability. Its proximity to Melbourne, the county's largest employment hub, adds to its investment strength. The remaining lease term is one year, presenting an opportunity to renegotiate leases and potentially convert to net leases. This property offers a unique blend of immediate income and long-term redevelopment potential, making it an attractive investment for those seeking a strong return in a prime coastal location. Please note: Do not disturb tenants.

Highlights

  • Fifth Avenue, Indialantic location; walkable to the beach.
  • Strong retail market with <3% vacancy.
  • 4,233 SF building, four tenants, below-market rents.
  • Large rear parking lot, valuable in a parking-constrained area.
  • Beachfront proximity and local market ideal for redevelopment.
  • Below-market, gross lease tenants; NNN conversion opportunity.

Property Details for 0 5Th Ave

Property type
Lifestyle centers, Power centers
Square Feet
4,233 SF
Class
B
Year Built/Renovated
1952/2015
Buildings
1
Stories
1
Lot Size (sq. ft)
15,246 SF
Units
4

Location Insight

City
Indialantic
County
Brevard
State
Florida
Latitude
28.0881746
Longitude
-80.5786175
5Th Ave, Indialantic, Florida

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0 5Th Ave
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