2701 Clearlake RdCocoa, FL 32926

Property Details for 2701 Clearlake Rd

Year built

2009

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.00 AC

Property size (Sq ft)

12,681 SF

Zone code

CN

Property type

Strip malls

Property subtype

Neighborhood centers

APN

24-36-18-77-00000.0-0003.00

APU

9223372036854775807

Description

This exceptional 12,622 square foot retail shopping center in Cocoa, Florida, presents a compelling net lease investment opportunity. Boasting a 100% occupancy rate with Dollar Tree and AT&T as tenants, this property offers a secure, long-term income stream. Dollar Tree, a corporate guarantor, enjoys a 7-year remaining lease, while AT&T's lease extends for another 3 years. The property, built in 2009 and renovated in 2020 (including a new roof), sits on a 1.06-acre lot in a high-traffic area with over 22,000 average daily traffic counts. Benefiting from a prime location near a Walmart Supercenter, the center enjoys exceptional visibility and accessibility. The strong tenant base, combined with a 5.52% cap rate and a Net Operating Income (NOI) of $211,954, makes this a highly attractive investment. The property's strategic location within a 5-mile radius boasting a population exceeding 78,000 and an average household income over $113,000 further enhances its investment potential. All expenses are reimbursed by the tenants, minimizing operational concerns. This fee-simple ownership opportunity provides a stable and lucrative return on investment. The asking price is $3,838,995, translating to $304.15 per square foot.

• CAP approach

  CAP return

  Valuation

  6%

  $4,705,226

  6.5%

  $4,343,286

  7%

  $4,033,051

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,296,845

  Geo Method

  $5,018,070

• Alternative Use

  Use

  Valuation

  Residential

  $3,663,724

  Hospitality

  $3,355,952

  Educational

  $2,792,112

  Medical

  $2,888,138

  Retail

  $4,343,286

Location Insight

City

Cocoa

County

Brevard

State

Florida

Latitude

28.3948

Longitude

-80.7556

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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