David Bruton Smith Of Sonic Automotive Acquires Retail Property In Palm Bay For $16.75M
1440 Sportsman Circle Northeast
$16,750,000
Building Size
—
Asset Type
Retail
Closing
Apr 29, 2026
About this deal
AI
The property asset involved in this transaction is a retail space located at 1440 Sportsman Circle Northeast, Palm Bay. Sonic Automotive acquired the real estate for $16,750,000, marking a significant valuation increase from its previous purchase price of $7.3 million in 2011.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $16,750,000
- Buyer: David Bruton Smith - Sonic Automotive
- Seller: SCHD Executive Circle LLC
- Previous Sale Price: $7,300,000
- Value Increase: 130%
The acquisition is part of a five-deal dealership portfolio buy, and it has set a record price for the property. This trend reflects the movement of Harley-Davidson owners toward consolidation and sale-leaseback decisions driven by rising property prices.
Palm Bay Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.95%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93