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Property profile & analytics
FOR LEASE
Strip malls

961 E Eau Gallie Blvd Indian Harbour Beach, FL 32937

56,927 SF 6.87 ac lot Built 1986
Entity Owned 23-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US18-5912704
Property summary
AI-generated overview

Ocean Springs Shopping Center presents a unique investment opportunity in Brevard County. This single-story, 123,258 square foot, grocery-anchored shopping center boasts a prime location directly across from Melbourne Beach, offering exceptional visibility and accessibility. The center features a Winn-Dixie anchor tenant, ensuring consistent foot traffic and strong consumer draw. A diverse range of co-tenants, including Dollar Tree, Texas Roadhouse, Firehouse Subs, and Sally Beauty, cater to a broad customer base, creating a synergistic retail environment. Currently, one retail space of 1,500 square feet is available, ideal for a variety of businesses. The center's strategic location at the corner of Collins Avenue and E. Eau Gallie Boulevard benefits from high traffic counts, with Collins Avenue boasting 27,000 AADT and Eau Gallie Boulevard registering 24,000 AADT. The surrounding neighborhoods are densely populated, providing a substantial customer base for the center's tenants. The high geographic barriers to entry, due to the beachfront location, further enhance the property's value and long-term potential. This is a rare opportunity to acquire a space within a thriving, well-established shopping center in a highly desirable coastal location. The property's strong tenant mix, high traffic counts, and prime location make it an attractive investment for discerning buyers.

Property profile
Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1986
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 56,927 SF
Lot 6.87 ac (299,257 SF)
Zoning code CP
APN 27-37-13-00-00268.0-0000.00
UPID US18-5912704
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$6.69M
Blend (final) Blend
$5.78M
Owner & transaction history
Melbourne Beach LLC · 23 yrs held
Melbourne Beach LLC
since 2002
2 recorded transactions
2002
$3.2M
2002
$3.2M
Zoning & alternative use
CP · Indian Harbour Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building $9.1M +16.9%
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