2701 Clearlake RdCocoa, FL 32926

  • Retail properties
  • 12,681 SF
For Sale
$3,838,995 View listing

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
2701 Clearlake Rd, Cocoa, Florida

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$29,145
$390,620
$944,120
$1,334,740
-
$390,620
$944,120
$1,334,740

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