961 Eau Gallie BlvdMelbourne, FL 32937

Property Details for 961 Eau Gallie Blvd

Year built

1986

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

6.87 AC

Property size (Sq ft)

56,927 SF

Zone code

CP

Property type

Retail properties

Property subtype

Strip malls

APN

27-37-13-00-00268.0-0000.00

APU

9223372036854775807

Description

Ocean Springs Shopping Center presents a unique investment opportunity in Brevard County. This single-story, 123,258 square foot, grocery-anchored shopping center boasts a prime location directly across from Melbourne Beach, offering exceptional visibility and accessibility. The center features a Winn-Dixie anchor tenant, ensuring consistent foot traffic and strong consumer draw. A diverse range of co-tenants, including Dollar Tree, Texas Roadhouse, Firehouse Subs, and Sally Beauty, cater to a broad customer base, creating a synergistic retail environment. Currently, one retail space of 1,500 square feet is available, ideal for a variety of businesses. The center's strategic location at the corner of Collins Avenue and E. Eau Gallie Boulevard benefits from high traffic counts, with Collins Avenue boasting 27,000 AADT and Eau Gallie Boulevard registering 24,000 AADT. The surrounding neighborhoods are densely populated, providing a substantial customer base for the center's tenants. The high geographic barriers to entry, due to the beachfront location, further enhance the property's value and long-term potential. This is a rare opportunity to acquire a space within a thriving, well-established shopping center in a highly desirable coastal location. The property's strong tenant mix, high traffic counts, and prime location make it an attractive investment for discerning buyers.

• CAP approach

  CAP return

  Valuation

  6%

  $22,999,368

  6.5%

  $21,230,186

  7%

  $19,713,744

• Comparable approach

  Method

  Valuation

  Relative Method

  $22,526,902

  Geo Method

  $22,526,902

• Alternative Use

  Use

  Valuation

  Residential

  $17,908,456

  Hospitality

  $16,404,049

  Educational

  $13,647,976

  Medical

  $14,117,351

  Retail

  $21,230,186

Location Insight

City

Indian Harbour Beach

County

Brevard

State

Florida

Latitude

28.1368

Longitude

-80.5838

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].