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$75,000 STARTING BID
O N L I N E A U C T I O N
BUILDING: ±2,573 SFLOT: ±0.69 AC
PARKING: ±34 SPACES
PROPERTY TYPE: RETAIL
TENANCY: SINGLE
OCCUPANCY: VACANT
YEAR BUILT: 1979
STORIES: ONE
ZONING: C-G GENERAL COMMERCIAL DISTRICT
US-1 FRONTAGE
DRIVE-THRU
BUS LINE
PYLON SIGN
F O R M E R W E N D Y ’ S9 4 1 N O R T H C O C O A B O U L E V A R D , C O C O A , F L
CBRE is pleased to present a vacant, free-standing retail building located at 941 North Cocoa Boulevard in Cocoa, FL 32922 (the “Property”). This Property is offered significantly below replacement cost and offers an exceptional owner/user or investment opportunity with significant value enhancement potential at a significant discount.
The Property is comprised of one, free-standing, single-story building totaling ±2,573 SF. Positioned on ±0.69 AC, the Property offers abundant parking with 34 surface spaces and offers 157’ feet of prime frontage on N Cocoa Blvd (aka US-1) with 2 curb cuts. The Building offers drive-thru capabilities and offers prominent signage opportunities. The Building’s foundation is made of reinforced concrete slab with concrete grade beams, piers and footings; the exterior walls are concrete block with brick and glass exterior; and the building’s roof is flat with metal drains and is composed of per-engineered structural steel framing system supporting factory painted architectural metal panels. This former Wendy’s is zoned C-G, General Commercial District, allowing for a variety of uses including retail goods & services, professional offices, studios, clinics, laboratories, general offices, etc. The flexible zoning offers potential investors the ability to acquire a free-standing retail building with significant value add through long term lease up, adaptive reuse, or repositioning.
The Property is located within the Brevard County Submarket along the west side of N Cocoa Blvd/US-1 just south of Dixon Boulevard. The Property offers excellent visibility and accessibility and is poised to benefit from approximately ±33,000 vehicles passing the site daily. The Property can benefit from immediate traffic drawn by the nearby Byrd Plaza occupied by Big Lots, Tractor Supply Co, and CitiTrends. The Property is located in a dense residential area and benefits from compelling demographics. In 2019, the Property had approximately ±92,576 individuals residing within a five-mile radius with an average household income of ±$72,187. Additionally, within a 5-mile radius of the Property the total annual budget expenditures accounts for ±$2.38B billion of which $713 million are allocated to retail goods and expenditures.
P H I L I P KAT E ST: 305-206-1286
ONLINE AUCTION: FEBRUARY 24 - 26, 2020
A DA M S K L AV E RT: 954-745-7467
±2,573 SF FORMER WENDY’S
AVAILABLE AT A SIGNIFICANT
DISCOUNT BELOW REPLACEMENT
COST
TREMENDOUS VALUE ADD
OPPORTUNITYVIA STRATEGIC LONG
TERM LEASE-UP, ADAPTIVE REUSE, OR
REPOSITIONING
A DA M S K L AV E RT: 954-745-7467
EASILY ACCESSIBLE
WITH DESIRABLE FRONTAGE ON A MAIN AREA
THOROUGHFARE WITH ±33,000
VPD
STRATEGICALLY POSITIONED
WITH PROMINENT SIGNAGE
OPPORTUNITIES AND DRIVE-THRU
CAPABILITIES
P H I L I P KAT E ST: 305-206-1286
COCOA, FL
ST
Cocoa is a city in Brevard County, Florida and is part of the Palm Bay–Melbourne–Titusville Metropolitan Statistical Area. Brevard County is a county located along the coast of the Atlantic Ocean midway between Jacksonville and Miami. As of 2010 U.S. Census Bureau estimates, the population is 543,376, making it the 10th most populous county in the state. Influenced by the presence of the John F. Kennedy Space Center, Brevard County is also known as the Space Coast.
Cocoa is accessible by State Roads 520, 528, and 524 as well as U.S.1 and serves as the gateway to Cocoa Beach, and other beach-side communities. Cocoa is served by Interstate 95 running north-south and State Road 528 running east-west, giving you access to major metropolitan regions such as Jacksonville, Tampa, and Fort Lauderdale/Miami. Cocoa is effectively positioned as a manufacturing and industrial hub near local economic drivers, including Port Canaveral and Interstate 95. The City is situated within an hour drive from Orlando International Airport, Melbourne Regional Airport, and Space Coast Executive Airport. JAXPort is also roughly two hours from Cocoa. Cocoa is also home to several educational demand drivers and is home to Eastern Florida State College, the University of Central Florida’s Cocoa Campus, and the Florida Solar Energy Center.
Investors/owners can benefit from the multitude of local, state, and federal programs and incentives that are available to businesses that locate, expand, and do business in the City of Cocoa. The favorable tax base, low cost of doing business, diverse business base, availability of professional and skilled workforce, and quality lifestyle continue to attract residents, tourists, and businesses to the area.
$75,000 STARTING BID
O N L I N E A U C T I O N
© 2019 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful,
independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
5-MILE DEMOGRAPHICS
