Listing Summary
Investment Opportunity: High-Volume Mobil Gas Station & "Go Market" – Melbourne International Airport
Full Description
Absolute NNN Passive Asset | 7.7% In-Place Cap Rate | 100% Bonus Depreciation Eligible
Location: Signalized Intersection of Babcock St, Melbourne, FL (Directly Opposite Melbourne International Airport)
Price: $3,600,000
Building Size: 1,585 SF | Year Built: 1993 (Fully Renovated 2024/2025)
Executive Summary: The Premier NNN Asset in Melbourne, FL
Experience a rare opportunity to acquire a high-performance, 12-pump Mobil Gas Station and a brand-new "Go Market" convenience store in the heart of Melbourne’s most active commercial corridor. This asset is the definition of "passive income," featuring a brand-new 20-year Absolute Triple Net (NNN) lease with a seasoned 36-year operator.
Strategically located directly across from the Melbourne International Airport, this property offers an incoming investor an immediate 7.7% cap rate with aggressive built-in rent escalations and significant tax advantages via 100% Bonus Depreciation (if closed before year-end).
Unrivaled Location & Infrastructure
Situated at a high-visibility signalized intersection, this property commands the traffic flow of Melbourne’s primary thoroughfare.
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Massive Traffic Exposure: Boasting an AADT of 47,800+, Babcock Street is the busiest artery in the city, home to major national retail outfits and constant airport-related commerce.
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Airport Proximity: Being directly adjacent to the Melbourne International Airport ensures a 24/7 stream of travelers, car rental returns, and local commuters.
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Dominant Market Position: This is currently the only Pure NNN gas station available in the Melbourne market, providing an investor with a high-barrier-to-entry asset in a supply-constrained environment.
The Lease: 20 Years of Guaranteed Passive Income
This investment is structured as a Pure NNN Lease, meaning the tenant is responsible for all costs—taxes, insurance, maintenance, and structural repairs (Roof & Structure). It is the ideal vehicle for out-of-state investors or 1031 exchange buyers seeking zero landlord responsibilities.
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Initial Term: 20 Years (Commencing 2025).
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Rental Increases: 10% rent bumps every five years, providing a powerful hedge against inflation.
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Renewal Options: Two (2) additional 5-year options.
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Annual Revenue: Starting at $276,000 per year ($23,000/month).
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Operator Strength: Guaranteed by a powerhouse operator with a 36-year track record and over 50 successful locations throughout Florida.
Financial Growth & Escalating Yields
Unlike traditional flat-rent retail, this Mobil station offers a dynamic and growing return on investment:
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In-place Cap Rate: 7.7%
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2030 Projection: 8.4%+ Cap Rate
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2035 Projection: 9.3%+ Cap Rate
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Final Years Projection: 11.0%+ Cap Rate
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Brand Security: Backed by a formal Mobil/Exxon fuel supply agreement for the duration of the lease.
Comprehensive 2024/2025 Capital Improvements
The property has undergone a total transformation, ensuring the buyer inherits a "like-new" asset with minimal near-term maintenance requirements:
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Technology & Fueling: Brand-new hi-tech dispensers, new canopy, and updated pylon signage.
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Building Systems: New roof, new HVAC system, and fully updated plumbing.
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The "Go Market" Experience: A complete interior overhaul including new flooring, modernized restrooms, and a brand-new walk-in cooler.
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Compliance: Clean environmental reports and a fully modernized security system.
Why Invest in the Space Coast (Melbourne, FL)?
Melbourne is the crown jewel of Florida’s "Space Coast," a region experiencing explosive growth due to the aerospace and technology sectors. This gas station is positioned to capture that growth, sitting on the busiest street in the city. With 100% Bonus Depreciation potential, this is not just a real estate play—it is a sophisticated tax-planning tool and a high-yield income generator.
High-cap NNN assets in airport-adjacent locations are in extremely high demand. Contact us today for a full Offering Memorandum (OM) and environmental documentation.
Quick Glance
- Listing ID:
CL-Florida-27684
- Status:
Active
- Year Build:
1993
- Building Size:
1,585 SqFt
- Lot Size:
0.66 Acre