1540 NE Skippers Way - Dormitory FOR SALE
Palm Bay, FL 32905 |
$20,540,000 USD
321-480-4673
1540 NE Skippers Way
Palm Bay, FL 32905
HIGHLIGHTS
- Turnkey Student Housing Asset – 60 fully-leased units serving Florida Tech and surrounding institutions
- 6.5% NNN Income Guaranteed – Sale-leaseback structure offers 5 years of predictable, passive income
- Purpose-Built Units – Each unit is 5 bed / 5 bath with kitchen, living room, dining area, laundry, and equipment room
- Campus-Style Layout – Five 3-story buildings surrounding a retention lake with strong community appeal
- Value-Add Development Potential – 3.96 acres zoned for up to 20 units per acre offers room for future expansion
- Renovated- 2012 with updated systems, amenities, and interior finishes, fully sprinklered buildings, equipped with elevators
OVERVIEW
1540 Skippers Way NE, Palm Bay, FL 32905
Student Housing Investment | 6.5% NNN Income | Sale-Leaseback
Property Type: Multifamily (Student Housing)
Price: $20,540,000
Total Units: 60
Total Bedrooms: 276
Lot Size: 11.93 Acres
Year Built: 2007 (Renovated 2012)
Zoning: RM-20 (with 3.96 acres of additional developable land)
FOR SALE DETAILS
PRICE
$20,540,000 USD
PRICE/SF
$185 USD /SF
# OF UNITS
60
PRICE/UNIT
$342,333
CAP RATE
Request Cap Rate
% LEASED
-
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Panther Bay
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Garden
PROPERTY SUBTYPE
Dormitory
ADD'L SUBTYPES
Apartments
TOTAL BUILDING SIZE
-
STORIES
3
YEAR BUILT
2007
PARKING SPACES
-
LAND DETAILS
LAND ACRES
11.93 AC
LAND SF
519,671 SF
ZONING
RM20
APN/PARCEL ID
28-37-22-00-00260.0-0000.00
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321-480-4673
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321-480-4673
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