Amscot & Smokes 4 Less 

142 Malabar Road | Palm Bay, Florida 32907

Contact Brokers

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Reid Thedford
Investment Advisor
Reid.Thedford@MarcusMillichap.com
(O) 813-387-4726
FL #SL3442474

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James Medefind
Senior Vice President Investments
James.Medefind@MarcusMillichap.com
(O) 813-387-4788
FL #SL3216834

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Jim Shiebler, CCIM, CEC

First Vice President Investments

Jim.Shiebler@MarcusMillichap.com

(O) 239.340.7811
FL #SL3347780

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James Garner, CCIM
First Vice President Investments​James.Garner@MarcusMillichap.com
(O) 813.387.4796
FL #SL3273659

Highlights

  • Amscot just exercised their option period showing commitment to this site - Amscot has been operating at this location since 2012

  • Corporate Guarantee: Amscot - 240 locations in Florida

  • Smokes 4 Less Currently has 13 Locations and Growing

  • Limited Management Responsibilities - Both tenants are responsible for HVAC, RE Taxes, CAM, Management Fees, Insurance

  • Excellent Returns - 7.06% Cap Rate on Current NOI, 9.52% Cash on Cash Return

  • Massive Population Density - 8,790 (1-mile), 62,888 (3-mile), 131,265 (5-mile)

  • Ideal Household Income for Both Tenants - - $58,891 (1-mile), $66,026 (3-mile), $68,557 (5-mile)

  • Outparcel to a Winn Dixie Anchored Shopping Center - Tenants include: Winn Dixie, Planet Fitness, McDonald’s, PNC Bank Dollar Tree, GNC, and more

Description

Marcus & Millichap is pleased to present Amscot & Smokes 4 Less, a rare opportunity for an investor to purchase a shopping center in the submarket of Palm Bay, FL. Amscot just exercised their option period showing commitment to the site they have been operating at since 2012. Smokes 4 Less also currently has 13 locations and growing. This prime location has a variety of phenomenal core real estate drivers that ensure future appreciation and stability of the location including below market rents, limited management responsibilities, excellent returns, and massive population density. This center is also an outparcel to a Winn-Dixie anchored shopping center with tenants such as Planet Fitness, McDonald’s, PNC Bank Dollar Tree, GNC, and more.