2099 Palm Bay NE Rd, Palm Bay, FL 32905-2971
- Strip malls
- 4,140 SF
- 0.46 lot acres
Current Use by Public Records
- Strip malls
Property Details for 2099 Palm Bay NE Rd
- Year built
- 1999
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.46 lot acres
- Zone code
- CC
- Property type
- Strip malls
- Property subtype
- Shopping centers
- APN
- 28-37-22-01-00002.0-0002.00
- APU
- 9223372036854775807
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jan 7, 2021 | $785,000 | Rp & Lm Enterprises INC | Shalimar Homes INC | Warranty Deed | — |
| Mar 25, 2014 | — | Shalimar Homes INC | Shakir,abdul R & Azizah R | Quit Claim Deed · related | — |
| — | — | Abdul R Shakir | — | Deed Of Trust · related | $186k · Wachovia Bank NA |
| — | — | Cindy Mckee | — | Deed Of Trust · related | $20k · Barnett Bank |
Description
This thriving smoke shop presents a unique investment opportunity on Palm Bay Road. The property is a single-tenant retail space encompassing 1,260 square feet within a larger 3,780 square foot building. The business boasts impressive inside retail sales averaging approximately $22,000 per month, further supplemented by lottery commission and income from other machines. This established business offers a strong track record and consistent revenue stream. The current monthly rent is $2,500. The asking price includes a $40,000 business goodwill value, reflecting the established clientele and operational success. This turnkey operation is ideal for an investor seeking a profitable, established business with significant earning potential. The property's location on Palm Bay Road ensures high visibility and accessibility to a substantial customer base. The sale includes the existing inventory and fixtures, allowing for a seamless transition for the new owner. This is a rare opportunity to acquire a profitable, established business with a proven history of success in a desirable location. Serious inquiries only. Financial statements are available upon request. This is a fantastic opportunity for a savvy investor looking for a strong return on investment.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $945,000
- ML approach
- $920,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $920,000
- 6.5%
- $850,000
- 7%
- $790,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $943,000
Market price range: $315k - $944k -
Alternative Use
- Use
- Estimation
- NEIGHBORHOOD: SHOPPING CENTER
- $570,000 Current use
- COMMERCIAL (GENERAL)
- $980,000 Change: +72% Conversion: Easy
- AUTO REPAIR, GARAGE
- $865,000 Change: +51% Conversion: Difficult
- RETAIL STORES
- $665,000 Change: +17% Conversion: Easy
- MEDICAL BUILDING
- $645,000 Change: +13% Conversion: Difficult
- OFFICE BUILDING
- $625,000 Change: +10% Conversion: Moderate
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Location Insight
- Map
- Local Demand
- City
- Palm Bay
- County
- Brevard
- State
- Florida
- Longitude
- -80.6118
- Latitude
- 28.0355
- CBSA code
- 37340
- CBSA name
- PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA
