Private Investor Purchases 149752 SF Property At 5270 Babcock St NE Palm Bay With Seller's Rep Brad Peterson
5270 Babcock St NE, Palm Bay, FL, 32...
Building Size
149,752 SF
Asset Type
Retail
Closing
Mar 26, 2021
About this deal
AI
The property involved in the transaction is a retail center known as Marketplace at Palm Bay, located at 5270 Babcock St NE, Palm Bay, FL. The center comprises a total of 149,752 square feet and is set on nearly 17 acres. It features notable tenants including Winn-Dixie and Bealls Outlet, and is situated in a location that attracts over 47,000 vehicles per day.
Summary of transaction details:
- Property Type: Retail Center
- Transaction Amount: Not disclosed
- Square Footage: 149,752
- Address: 5270 Babcock St NE, Palm Bay, FL
- Market: Palm Bay
- Seller's Representative: Brad Peterson - Colliers International
- Buyer: Private Investor
In this transaction, Brad Peterson from Colliers International, along with Whitaker Leonhardt and Tommy Isola from JLL, represented the seller, DLC Management Corp. The property was listed on the CRE transaction platform Ten-X, highlighting its availability for investment.
On the Map
Retail
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Players
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93