4835 Babcock NE St Palm Bay, FL 32905-2809

Property Details for 4835 Babcock NE St

Year built

1999

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.80 lot acres

Property size

6,276 SF

Zone code

HC

Property type

Retail space

APN

28-37-22-00-00532.0-0000.00

APU

9223372036854775807

Description

This exceptional investment opportunity presents a 6,276 square foot, single-story auto shop in Palm Bay, Florida. The property, built in 1999 and renovated in 2010, boasts a prime location on Babcock Street Northeast, experiencing high daily traffic volume. Currently leased to Tires Plus, a subsidiary of Bridgestone Americas, under a Net Lease agreement with a corporate guarantee, the property offers a strong, stable income stream. The lease features a remaining term of approximately 9.4 years, with two 5-year renewal options, and includes rent bumps of 10% every 5 years. The property sits on a 0.8-acre lot and includes 9 service bays. The strong tenant history, coupled with the favorable lease terms and a 5.60% cap rate, makes this a compelling investment opportunity with minimal landlord responsibilities. The asking price is $2,681,500, representing a price per square foot of $427.26 and a Net Operating Income (NOI) of $150,164. The property benefits from its proximity to numerous national retailers, including Publix, Advance Auto Parts, McDonald's, CVS, and Dollar Tree, ensuring high visibility and consistent customer traffic. This is a rare chance to acquire a well-established, low-maintenance, high-return investment property in a thriving Florida market. The lease commenced April 1st, 1999, and is set to expire March 31st, 2034.

Location Insight

City

Palm Bay

County

Brevard

State

Florida

Longitude

-80.6213

Latitude

28.0303

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments