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Nice Realty South LLC Acquires Tractor Supply Co. Property In Melbourne For $7.4M
SOLD
$7,400,000
Florida
See Similar DealsRetail22,686 SF
Sold 04/07/2025
SOLD
Nice Realty South LLC Acquires Tractor Supply Co. Property In Melbourne For $7.4M
5600 North Wickham Road
See Similar DealsRetail22,686 SF
Sold 04/07/2025
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$326
Total Square Footage:22,686 SF
Transaction Type:Sale
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
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$394,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$26,290.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$35,079.78
Annual Debt Service$420,957.30
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