Cobb Theatres

777 East Merritt Island Causeway, Merritt Island, FL
$13,050,600 · 7.50% CAP · 6 Yr. Lease · Single Tenant Net Lease
Available

Location

777 East Merritt Island Causeway, Merritt Island, FL

PRICE: $13,050,600
CAP RATE: 7.50%
NET OPERATING INCOME: $978,795
SQUARE FEET: 65,253 SF

This is the unique opportunity to purchase Cobb Theatres, a net leased offering in Merritt Island, FL This lease calls for zero landlord obligations. There is a scheduled increase in rent of 9.3% in 2019. The asset is well situated amongst major retailers in the Merritt Square Mall.

Merritt Island is a census-designated place in Brevard County, Florida, located on the eastern Floridian coast,
along the Atlantic Ocean. As of the 2010 United States Census, the population was 34,743. It is part of the
Palm Bay – Melbourne – Titusville, Florida Metropolitan Statistical Area. The name “Merritt Island” also refers to
the extent of the former island, which is now a peninsula. Merritt Island National Wildlife Refuge and NASA’s John F.
Kennedy Space Center are located on the northern part of Merritt Island. The southern area is heavily residential, with
centralized light commercial and light industrial areas. The island does not belong to any official city. The central
part of Merritt Island, previously known as Merritt City, is home to the majority of the population and includes the
local high school, library, and shopping district.

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Presented By

Jacob Abusharkh

Managing Director

415.269.2474
925.406.0813
BRE# 01385529

Jacob Abusharkh is the Managing Director and co-founder of The Kase Group (TKG). Jacob helped in the founding of TKG in 2006. TKG specializes in the sale of single and multi-tenant net leased retail and industrial assets across the country...

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