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Fresh Stop: Merritt Island, FL 290 N Courtenay Pky 3,094 SF Retail Building Merritt Island, FL 32953 $3,692,600 ($1,193.47/SF) 7.25% Cap Rate
Investment Highlights
- STRONG TENANT
- ZERO LANDLORD RESPONSIBILITIES
- LONG-TERM ABSOLUTE NNN LEASE WITH GUARANTY
Executive Summary
CBRE is pleased to offer for sale the 3,094 SF Fresh Stop fuel and convenience store located on 0.75 acres in Merritt Island, FL- a component of the Palm Bay–Melbourne–Titusville, FL MSA.? At closing, Fresh Stop will execute an individual 20-year absolute NNN lease featuring a guaranty from Madison Capital Group LLC and 2.00% annual rent increases through the primary term and in each of the four, 5-year renewal options.?
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Service Station
Building Size
3,094 SF
Building Class
B
Year Built
1965
Price
$3,692,600
Price Per SF
$1,193.47
Cap Rate
7.25%
NOI
$267,714
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
0.75 AC
Zoning
BU1
Parking
4 Spaces (1.29 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Pylon Sign
- Signage
- Signalized Intersection
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 24-36-35-00-00058.0-0000.00 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $618,310 |
Property Taxes
Parcel Number
24-36-35-00-00058.0-0000.00
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$618,310
Contacts
-
Christopher Bosworth -
Cyrus Felfeli -
Brian Pfohl -
Thomas Carr -
Abby Kelly -
Katie Goldberg -
Ty Grenier -
Leah Lindell -
Mark Drazek -
CBRE, Inc.
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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Fresh Stop: Merritt Island, FL | 290 N Courtenay Pky
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