Shopping Strip

Country Club Shoppes

5275 Babcock St NE, Palm Bay, FL 32905

Listing Price: $4,800,000

Cap Rate
9.25%
Gross SF
51,954
Rentable SF
51,954
Price/Gross SF
$92.39
Lot Size
6.46 acres
Year Built
1982

Investment Overview

Marcus & Millichap is pleased to present Country Club Shoppes, a 51,954 SF shopping center located at the signalized corner of S Babcock Street and Port Malabar Road NE in Palm Bay, FL. This location is heavily traveled due to several national retail tenants, easy access from all directions, and a combined daily traffic count of over 50,000 vehicles per day.

The property sits on 6.46 acres of land and is shadow anchored by Walgreens and PNC Bank. Both Walgreens and PNC Bank own their respective outparcels, contributing to stability of the property. The property is also located across the street from a 150,000 SF shopping center anchored by Winn Dixie and Bealls Outlet. Country Club Shoppes is offered at $103/RSF and generates an existing unlevered return of 7.83%, with an additional upside opportunity to lease the three remaining vacant bays. The existing tenant roster features national tenant Aaron Rents and several local service-oriented tenants, including educational, restaurants, laundry service, and salons.

Investment Highlights

  • 51,954 SF Shopping Center Priced at $92.39/RSF
  • Stable Tenancy Base: 93% of Existing Tenants have Exercised Renewal Options
  • Over 9% CAP Rate and 13.5% Cash on Cash Return w Upside through Leasing Vacant Space
  • 92% Occupied Shopping Center Located on Signalized Corner
  • Shadow anchored by Walgreens and PNC Bank
  • Necessity & Service-Oriented Tenant Roster
  • Deliverable Free & Clear of Debt

Exclusively Listed By

Listing Price: $4,800,000

Cap Rate
9.25%
Gross SF
51,954
Rentable SF
51,954
Price/Gross SF
$92.39
Lot Size
6.46 acres
Year Built
1982

Investment Highlights

  • 51,954 SF Shopping Center Priced at $92.39/RSF
  • Stable Tenancy Base: 93% of Existing Tenants have Exercised Renewal Options
  • Over 9% CAP Rate and 13.5% Cash on Cash Return w Upside through Leasing Vacant Space
  • 92% Occupied Shopping Center Located on Signalized Corner
  • Shadow anchored by Walgreens and PNC Bank
  • Necessity & Service-Oriented Tenant Roster
  • Deliverable Free & Clear of Debt

Investment Overview

Marcus & Millichap is pleased to present Country Club Shoppes, a 51,954 SF shopping center located at the signalized corner of S Babcock Street and Port Malabar Road NE in Palm Bay, FL. This location is heavily traveled due to several national retail tenants, easy access from all directions, and a combined daily traffic count of over 50,000 vehicles per day.

The property sits on 6.46 acres of land and is shadow anchored by Walgreens and PNC Bank. Both Walgreens and PNC Bank own their respective outparcels, contributing to stability of the property. The property is also located across the street from a 150,000 SF shopping center anchored by Winn Dixie and Bealls Outlet. Country Club Shoppes is offered at $103/RSF and generates an existing unlevered return of 7.83%, with an additional upside opportunity to lease the three remaining vacant bays. The existing tenant roster features national tenant Aaron Rents and several local service-oriented tenants, including educational, restaurants, laundry service, and salons.

Exclusively Listed By

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