3360 Bayside Lakes BlvdPalm Bay, FL 32909

Property Details for 3360 Bayside Lakes Blvd

Year built

2024

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a brand-new, 2024-built Advance Auto Parts store in Palm Bay, Florida. The property boasts a 15-year NNN lease with a corporate guarantee from Advance Auto Parts (NYSE: AAP), a highly rated (BBB- by S&P) industry leader with over 4,777 locations and $11.3 billion in revenue. The lease includes 10% rent increases every five years, ensuring consistent income growth. The property generates a strong NOI of $200,000, resulting in a compelling 5.85% cap rate. Strategically located at 3360 Bayside Lakes Blvd SE, 32909, this 100% occupied, single-tenant building benefits from a high-traffic location adjacent to a Publix-anchored center and near I-95 (56,580 cars/day). The surrounding area features a rapidly growing population, exceeding 80,000 residents, with an average household income over $75,000 within a 3-mile radius. The property's proximity to major employers like SpaceX, NASA, Florida Tech, and numerous schools further enhances its investment appeal. This is a rare chance to acquire a stable, high-performing asset in a thriving Florida market. The landlord is responsible for the structure and foundation. The property is situated in a tax-free state, offering additional financial advantages. The strong demographics and prime location make this a truly exceptional investment opportunity.

Location Insight

City

Palm Bay

County

Brevard

State

Florida

Latitude

27.9529

Longitude

-80.655

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