1904 Patrick DrIndian Harbour Beach, FL 32937

Property Details for 1904 Patrick Dr

Year built

1964

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.55 AC

Property size (Sq ft)

3,029 SF

Zone code

B1

Property type

Retail properties

Property subtype

Grocery and convenience stores

APN

27-37-11-00-00272.0-0000.00

APU

9223372036854775807

Description

This exceptional 3,029 square foot gas station and convenience store presents a compelling investment opportunity. Strategically located at a signalized intersection, this property benefits from a daily traffic count of 28,645 vehicles, ensuring high visibility and customer flow. Its prime location is adjacent to the prestigious Indian Harbour Marina & Yacht Club, further enhancing its appeal. The property boasts six canopy pumps and an open fuel supply, presenting a significant value-add potential. Surrounded by a robust mix of national retailers such as Publix, Walmart, Panera Bread, 7-Eleven, and Starbucks, this location benefits from established consumer traffic and brand recognition. The strong surrounding demographics are equally impressive, with an average household income of $96,000 and a population of 40,000 within a three-mile radius. Further bolstering the investment potential is a projected 7% population growth within the next five years. The property's adjacency to the newly developed Zon Beachside Residences, a 123-unit luxury independent living facility, provides a consistent and growing customer base. This 0.55-acre property offers a rare combination of high traffic, strong demographics, and established brand synergy, making it an ideal investment for discerning buyers seeking significant returns. The single-tenancy structure simplifies management and maximizes operational efficiency.

• CAP approach

  CAP return

  Valuation

  6%

  $1,223,762

  6.5%

  $1,129,626

  7%

  $1,048,939

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,198,622

  Geo Method

  $1,198,622

• Alternative Use

  Use

  Valuation

  Residential

  $952,882

  Hospitality

  $872,835

  Educational

  $726,188

  Medical

  $751,163

  Retail

  $1,129,626

Location Insight

City

Indian Harbour Beach

County

Brevard

State

Florida

Latitude

28.1507

Longitude

-80.6002

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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