5050 Minton NW Rd Palm Bay, FL 32907-1109

Property Details for 5050 Minton NW Rd

Year built

1997

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.04 lot acres

Property size

3,200 SF

Zone code

CC

Property type

Commercial land

APN

28-36-24-KR-02471.0-0023.00

APU

283624KR024710002300

Description

This exceptional investment opportunity presents a brand-new, 3,763 square foot Caliber Car Wash located in Palm Bay, Florida. Built in 2024, this property sits on a 1.04-acre lot at 5050 Minton Rd, 32907, boasting a prime location with high visibility. The property benefits from a 20-year absolute NNN lease commencing February 29, 2024, and expiring February 29, 2044, with a remaining term of 19.3 years. The lease includes annual rent bumps of 1.5%, ensuring consistent income growth. The tenant is credit-rated, mitigating risk. The property generates a substantial Net Operating Income (NOI) of $335,000, resulting in a compelling 6.50% cap rate. The asking price is $5,154,000. This car wash benefits from its strategic location on Minton Road (44,300 vehicles per day) and proximity to I-95 (80,000 VPD), Hammock Landing (a power center with national tenants like Kohl's, Target, and Ross), and Palm Crossing (a Publix-anchored shopping center). The strong demographics of the area, with over 154,000 residents and 56,000 employees within a 5-mile radius and an average household income of $88,831 within a 1-mile radius, further enhance the investment potential. The lease includes four 5-year renewal options. This is a rare opportunity to acquire a high-performing, long-term investment in a rapidly growing market.

Location Insight

City

Palm Bay

County

Brevard

State

Florida

Longitude

-80.6721

Latitude

28.0341

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments