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Shopping Strip

Amscot & Smokes 4 Less

142 Malabar Rd, Palm Bay, FL 32907

Listing Price: $1,515,000

Cap Rate
7.06%
Gross SF
6,500
Rentable SF
6,500
Price/Gross SF
$233.08
Lot Size
0.89 acres
Year Built
1994

Investment Overview

Marcus & Millichap is pleased to present Amscot & Smokes 4 Less, a rare opportunity for an investor to purchase a shopping center in the submarket of Palm Bay, FL. Amscot just exercised their option period showing commitment to the site they have been operating at since 2012. Smokes 4 Less also currently has 13 locations and growing. This prime location has a variety of phenomenal core real estate drivers that ensure future appreciation and stability of the location including limited management responsibilities, excellent returns, and massive population density. This center is also an outparcel to a Winn-Dixie anchored shopping center with tenants such as Planet Fitness, McDonald’s, PNC Bank Dollar Tree, GNC, and more.

Investment Highlights

  • Amscot just exercised their option period showing commitment to this site - Amscot has been operating at this location since 2012
  • Corporate Guarantee: Amscot - 240 locations in Florida
  • Smokes 4 Less Currently has 13 Locations and Growing
  • Limited Management Responsibilities - Both tenants are responsible for HVAC, RE Taxes, CAM, Management Fees, Insurance
  • Excellent Returns - 7.06% Cap Rate on Current NOI, 9.52% Cash on Cash Return
  • Massive Population Density - 8,790 (1-mile), 62,888 (3-mile), 131,265 (5-mile)
  • Ideal Household Income for Both Tenants - - $58,891 (1-mile), $66,026 (3-mile), $68,557 (5-mile)
  • Outparcel to a Winn Dixie Anchored Shopping Center - Tenants include: Winn Dixie, Planet Fitness, McDonald's, PNC Bank Dollar Tree, GNC, and more

Exclusively Listed By

Financing By

Shopping Strip

Amscot & Smokes 4 Less

Listing Price: $1,515,000

Cap Rate
7.06%
Gross SF
6,500
Rentable SF
6,500
Price/Gross SF
$233.08
Lot Size
0.89 acres
Year Built
1994

Investment Highlights

  • Amscot just exercised their option period showing commitment to this site - Amscot has been operating at this location since 2012
  • Corporate Guarantee: Amscot - 240 locations in Florida
  • Smokes 4 Less Currently has 13 Locations and Growing
  • Limited Management Responsibilities - Both tenants are responsible for HVAC, RE Taxes, CAM, Management Fees, Insurance
  • Excellent Returns - 7.06% Cap Rate on Current NOI, 9.52% Cash on Cash Return
  • Massive Population Density - 8,790 (1-mile), 62,888 (3-mile), 131,265 (5-mile)
  • Ideal Household Income for Both Tenants - - $58,891 (1-mile), $66,026 (3-mile), $68,557 (5-mile)
  • Outparcel to a Winn Dixie Anchored Shopping Center - Tenants include: Winn Dixie, Planet Fitness, McDonald's, PNC Bank Dollar Tree, GNC, and more

Investment Overview

Marcus & Millichap is pleased to present Amscot & Smokes 4 Less, a rare opportunity for an investor to purchase a shopping center in the submarket of Palm Bay, FL. Amscot just exercised their option period showing commitment to the site they have been operating at since 2012. Smokes 4 Less also currently has 13 locations and growing. This prime location has a variety of phenomenal core real estate drivers that ensure future appreciation and stability of the location including limited management responsibilities, excellent returns, and massive population density. This center is also an outparcel to a Winn-Dixie anchored shopping center with tenants such as Planet Fitness, McDonald’s, PNC Bank Dollar Tree, GNC, and more.

Exclusively Listed By

Financing By

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