Nice Realty South LLC Acquires Tractor Supply Co. Property In Melbourne For $7.4M
5600 North Wickham Road
$7,400,000
$326/SF
Building Size
22,686 SF
Asset Type
Retail
Closing
Apr 7, 2025
About this deal
AI
A 22,686 SF retail property located at 5600 North Wickham Road in Melbourne, FL was sold for $7,400,000. The asset spans 4.58 acres and is net leased with over 13 years remaining on the lease agreement.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $7,400,000
- Sale Date: 04/07/2025
- Buyer: Nice Realty South LLC
- Seller: Primax Properties LLC
- Brokers: Julius Swolsky & Shannon Bona - CrownPoint Partners
- Price per Square Foot: $326
CrownPoint Partners facilitated the off-market sale, with Julius Swolsky and Shannon Bona representing both the seller, Primax Properties, and the buyer, Nice Realty South LLC, in an all-cash 1031 exchange.
Players
Melbourne 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
2.14%
Cash-on-Cash
-0.61%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93