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Panther Bay 1540 NE Skippers Way 60 Unit Dormitory $20,540,000 ($342,333/Unit) Palm Bay, FL 32905
Investment Highlights
- Turnkey Student Housing Asset – 60 fully-leased units serving Florida Tech and surrounding institutions
- Purpose-Built Units – Each unit is 5 bed / 5 bath with kitchen, living room, dining area, laundry, and equipment room
- Value-Add Development Potential – 3.96 acres zoned for up to 20 units per acre offers room for future expansion
- 6.5% NNN Income Guaranteed – Sale-leaseback structure offers 5 years of predictable, passive income
- Campus-Style Layout – Five 3-story buildings surrounding a retention lake with strong community appeal
- Renovated- 2012 with updated systems, amenities, and interior finishes, fully sprinklered buildings, equipped with elevators
Executive Summary
1540 Skippers Way NE, Palm Bay, FL 32905
Student Housing Investment | 6.5% NNN Income | Sale-Leaseback
Property Type: Multifamily (Student Housing)
Price: $20,540,000
Total Units: 60
Total Bedrooms: 276
Lot Size: 11.93 Acres
Year Built: 2007 (Renovated 2012)
Zoning: RM-20 (with 3.96 acres of additional developable land)
Student Housing Investment | 6.5% NNN Income | Sale-Leaseback
Property Type: Multifamily (Student Housing)
Price: $20,540,000
Total Units: 60
Total Bedrooms: 276
Lot Size: 11.93 Acres
Year Built: 2007 (Renovated 2012)
Zoning: RM-20 (with 3.96 acres of additional developable land)
Property Facts
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Washer/Dryer
- High Speed Internet Access
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Views
- Wheelchair Accessible (Rooms)
Site Amenities
- Clubhouse
- Picnic Area
- Pool
- Furnished Units Available
- Planned Social Activities
- Volleyball Court
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 5+5 | 60 | - | 1,850 |
1 1
Bike Score®
Very Bikeable (75)
Property Taxes
| Parcel Number | 28-37-22-00-00260.0-0000.00 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $15,181,150 |
Property Taxes
Parcel Number
28-37-22-00-00260.0-0000.00
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$15,181,150
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Videos
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Presented by
National Realty Commercial Associates
Panther Bay | 1540 NE Skippers Way
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