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Published on: Tuesday, February 10, 2026
Updated on: Tuesday, February 10, 2026
About the Lister
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Name: David J. Rosenthal
Company: Grimaldi Commercial Realty Corp.
Office Phone:  
Cell Phone: (813) 882-0884
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  MELBOURNE AIRPORT RETAIL FOR SALE!

665 Babcock st & 660 S Apollo Blvd Melbourne Florida , 32901
665 Babcock st & 660 S Apollo Blvd Melbourne Florida , 32901  Grimaldi Commercial Realty Corp.
Listing ID: CL-Florida-27373 Mixed Use/Retail

Purchase Option

Acquisition Option: Traditional Purchase
Cap Rate (%): Contact Lister
Net Operating Income: Contact Lister
Quick Glance
Listing ID: CL-Florida-27373
Status: Accepting Offers
Financing: Third Party Financing
Occupancy: N/A
Year Build: N/A
Building Size: 6,960.00 SqFt
Lot Size: N/A
No of Stories: N/A
No of Parking: N/A
Offer to Millionaire Club: No
Business Available for Sale: No
Is Net Lease Investment: No
Property On Ground Lease: No
Building Status: Existing
Attached Documents
  • Download | Offering Memorandum.pdf ( 14,362.04KB)
Listing Summary
Presenting a premier NNN investment opportunity situated at a signalized intersection on South Babcock Street—the most heavily trafficked commercial artery in Melbourne, FL.
Complete Details
Year Build: N/A
Building Size: 6,960
No of Stories: N/A
Total Lot Area: N/A Acre
No of Parking: N/A
No of Total Units: N/A
Property Current Status: Normal Sale
Building Status: Existing
Heating and Cooling: Not Specified
Building Class: B
Property on Ground Lease?: No
Net Lease Investment?: No
Business Price Included?: No
Roofing: Not Specified
Occupancy: 0%
Full Description

 

7.1% CAP & 100% Bonus Depreciation! 

Rare opportunity to own a 2-building NNN retail center directly across from Melbourne International Airport. Anchored by Tires Plus (New 10-Year Lease) and Hertz, this site generates $270k/year in pure passive income. Located on South Babcock Street with 47,800+ daily cars, it features zero landlord responsibilities and built-in 2% annual rent bumps. Lock in a high-yield, hands-off investment in a market with virtually zero inventory!

Property Quick Facts

Feature Detail
Annual NOI $270,000
Cap Rate 7.1% (In-Place)
Traffic Count 47,800+ AADT
Tenants Tires Plus (10yr) & Hertz
Lease Type Absolute NNN (No Owner Expenses)
Tax Status 100% Bonus Depreciation Eligible
Location Babcock St & Apollo Blvd (Opposite MLB Airport)

 

Additional Properties
Property Highlights
  • RETAIL CENTER DIRECTLY ACROSS FROM MELBOURNE INTERNATIONAL AIRPORT! PYLON SIGNAGE ON S BABCOCK STREET, THE LARGEST STREET IN ALL OF MELBOURNE, FL! 100% BONUS DEPRECIATION ELIGIBLE WITH A CAR WASH ON-SITE CONNECTED TO THE TIRE SHOP!
  • 2 LONG-TERM NNN TENANTS IN-PLACE, INCLUDING WORLD FAMOUS HERTZ RENTAL CAR!
  • HERTZ RENTAL CAR AND TIRES PLUS FL INC. HAVE OCCUPIED THEIR RENTAL SPACES FOR OVER 4 YEARS EACH!
  • 7.11 CAP RATE IN-PLACE!
  • 7.2% CAP RATE IN 2026!
  • 7.4% CAP RATE IN 2027!
  • 7.6% CAP RATE IN 2028!
  • 2% RENTAL BUMPS EVERY YEAR ON THE NEW 10-YEAR LEASE SIGNED BY TIRE PLUS FL. TENNANTS RESPONSIBLE FOR ALL MAINTENANCE AND REPAIRS AT THE PROPERTY!
Features
  • Elite Location: Signalized intersection directly across from Melbourne International Airport on South Babcock Street (the city's primary retail corridor).
  • National Tenants:
  • ***Tires Plus: New 10-year NNN lease; features mechanic bays and on-site car wash.
  • ***Hertz: High-performing airport-support location with large office and expansive rental fleet parking.
  • Strong Financials: * Total Net Income: $270,000/year ($198k Tires Plus / $72k Hertz).
  • ***In-Place Cap Rate: 7.1% with annual 2% rent bumps.
  • ***Projected Cap Rate: 7.4% by 2027; 7.6% by 2028.
  • Tax Advantage: Car wash facility qualifies the site for 100% Bonus Depreciation—a rare benefit for retail assets.
  • Passive Management: Pure NNN structure; tenants are responsible for all taxes, insurance, and maintenance.
  • Unrivaled Visibility: Dedicated pylon signage on the city’s highest-trafficked road (47,800+ AADT).

Lending Opportunities

Interested in making an offer on this property or adding it to your portfolio? Our network of experienced lenders is ready to provide you with competitive loan options tailored to your needs. Whether you're an investor or a first-time buyer, securing financing is the key to turning this opportunity into reality. Don’t wait, reach out now to get pre-approved, explore your loan options, and take the next step with confidence!
Company Name Lender Type Contact Name Contact Number Actions
Easy Home Loans, LLC Mortgage Broker Ana M Gonzalez (786) 525-7126 Request Quote
Universe Financial Corp Mortgage Broker Melody Bejerano (305) 505-3053 Request Quote
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Listing Location
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