2099 Palm Bay RdPalm Bay, FL 32905

Property Details for 2099 Palm Bay Rd

Year built

1999

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.46 AC

Property size (Sq ft)

4,140 SF

Zone code

CC

Property type

Retail properties

Property subtype

Strip malls

APN

28-37-22-01-00002.0-0002.00

APU

9223372036854775807

Description

This thriving smoke shop presents a unique investment opportunity on Palm Bay Road. The property is a single-tenant retail space encompassing 1,260 square feet within a larger 3,780 square foot building. The business boasts impressive inside retail sales averaging approximately $22,000 per month, further supplemented by lottery commission and income from other machines. This established business offers a strong track record and consistent revenue stream. The current monthly rent is $2,500. The asking price includes a $40,000 business goodwill value, reflecting the established clientele and operational success. This turnkey operation is ideal for an investor seeking a profitable, established business with significant earning potential. The property's location on Palm Bay Road ensures high visibility and accessibility to a substantial customer base. The sale includes the existing inventory and fixtures, allowing for a seamless transition for the new owner. This is a rare opportunity to acquire a profitable, established business with a proven history of success in a desirable location. Serious inquiries only. Financial statements are available upon request. This is a fantastic opportunity for a savvy investor looking for a strong return on investment.

• CAP approach

  CAP return

  Valuation

  6%

  $1,672,622

  6.5%

  $1,543,959

  7%

  $1,433,676

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,638,263

  Geo Method

  $1,638,263

• Alternative Use

  Use

  Valuation

  Residential

  $1,302,387

  Hospitality

  $1,192,980

  Educational

  $992,545

  Medical

  $1,026,680

  Retail

  $1,543,959

Location Insight

City

Palm Bay

County

Brevard

State

Florida

Latitude

28.0355

Longitude

-80.6118

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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