2701 Clearlake RdCocoa, FL 32926
- Retail properties
- 12,681 SF
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
- Retail properties
- Property subtype
- Strip malls
- 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.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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