Shopping Neighborhood
Beach Plaza | 7.47% Proforma CAP | Irreplaceable Beach Side Center
1370 Florida A1A, Satellite Beach, FL 32937
Listing Price: $1,500,000
Investment Overview
Marcus & Millichap is proud to present the exclusive opportunity to acquire Beach Plaza, a rare 6,676 SF. value-add center located at 1370 Highway A1A, Satellite Beach, FL 32937. The center provides value-add opportunities with month-to-month leases allowing for immediate upside in rents. The average 5-mile population is over 69,000, with continued annual growth, confirming the economic strength of the locale. Positioned on the scenic Highway A1A, the property sees over 31,000+ vehicles daily, ensuring visibility and accessibility.
Florida’s Space Coast enjoys massive economic growth from the strong space and technology-focused industries locating their headquarters there. Additionally, tourism continues to grow as consumers flock to the sparkling beaches. Newly confirmed, a Brightline Station will open roughly 10 miles from the property in the city of Cocoa. Beach Plaza benefits from local and national retailers like Publix, Wendy’s, Lowe’s, Michael’s, Dunkin’, Sherwin-Williams, and more.
Beach Plaza | 7.47% Proforma CAP | Irreplaceable Beach Side Center
Investment Highlights
- Value-Add: Month-to-month leases throughout the plaza offer immediate potential for rental increases, maximizing investment returns. CoStar Market rent is over $18 PSF.
- Redevelopment Opportunity: Recently renovated in 2018, the property is primed for redevelopment with the potential to add a second story, perfect for apartment units.
- Prime Location: Boasting 105 feet of frontage on Highway A1A, which parallels the scenic shoreline, this property enjoys high visibility with over 31,000 VPD.
- Growing Market: Situated in a rapidly expanding area, CoStar reports year-over-year population growth of over 69,000 within a 5-mile radius.
- High Income Area: The average household income within 1 mile exceeds $124,000.
- Additional Investment: An adjacent residential home is available for purchase, providing options for further expansion or additional units.
- Nearby Retailers: Surrounded by an array of well-established retailers including Publix, Lowe's, Michael's, Wendy's, Dunkin', Sherwin Williams, and more, ensuring strong consumer traffic and demand.
- New Developments: Brightline Station has been confirmed to open in the city of Cocoa, roughly 10 miles North of Satellite Beach.
Exclusively Listed By
Financing By
Shopping Neighborhood
Beach Plaza | 7.47% Proforma CAP | Irreplaceable Beach Side Center
Listing Price: $1,500,000
Investment Highlights
- Value-Add: Month-to-month leases throughout the plaza offer immediate potential for rental increases, maximizing investment returns. CoStar Market rent is over $18 PSF.
- Redevelopment Opportunity: Recently renovated in 2018, the property is primed for redevelopment with the potential to add a second story, perfect for apartment units.
- Prime Location: Boasting 105 feet of frontage on Highway A1A, which parallels the scenic shoreline, this property enjoys high visibility with over 31,000 VPD.
- Growing Market: Situated in a rapidly expanding area, CoStar reports year-over-year population growth of over 69,000 within a 5-mile radius.
- High Income Area: The average household income within 1 mile exceeds $124,000.
- Additional Investment: An adjacent residential home is available for purchase, providing options for further expansion or additional units.
- Nearby Retailers: Surrounded by an array of well-established retailers including Publix, Lowe's, Michael's, Wendy's, Dunkin', Sherwin Williams, and more, ensuring strong consumer traffic and demand.
- New Developments: Brightline Station has been confirmed to open in the city of Cocoa, roughly 10 miles North of Satellite Beach.
Investment Overview
Marcus & Millichap is proud to present the exclusive opportunity to acquire Beach Plaza, a rare 6,676 SF. value-add center located at 1370 Highway A1A, Satellite Beach, FL 32937. The center provides value-add opportunities with month-to-month leases allowing for immediate upside in rents. The average 5-mile population is over 69,000, with continued annual growth, confirming the economic strength of the locale. Positioned on the scenic Highway A1A, the property sees over 31,000+ vehicles daily, ensuring visibility and accessibility. Florida’s Space Coast enjoys massive economic growth from the strong space and technology-focused industries locating their headquarters there. Additionally, tourism continues to grow as consumers flock to the sparkling beaches. Newly confirmed, a Brightline Station will open roughly 10 miles from the property in the city of Cocoa. Beach Plaza benefits from local and national retailers like Publix, Wendy’s, Lowe’s, Michael’s, Dunkin’, Sherwin-Williams, and more.
Exclusively Listed By
Financing By
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