Estates at Palm Bay

About Estates at Palm Bay

OM AVAILABLE SOON

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 300-unit, Estates at Palm Bay townhome community located in Fort Walton Beach, Florida. The Florida Panhandle benefits from a stable military employment base, anchored by Eglin Air Force Base and Hurlburt Field, which collectively support more than 30,000 jobs and are located within 15 minutes of Estates at Palm Bay. The community also offers exceptional visibility and accessibility along Martin Luther King Jr. Blvd (29,000+ VPD), a major Fort Walton Beach corridor connecting residents to many of the area’s largest employers. Significant capital improvements have been completed throughout the community, including upgraded plumbing fixtures, new countertops, fresh interior paint, replacement garage doors, and modern appliance packages, positioning the asset to compete effectively within the market at an average cost of $17.5K/unit. Built in 1992, Estates at Palm Bay offers the investor an asset with massive floorplans and home-like amenities. The property currently operates under a ground lease set to expire in 2066 that has high renewal potential.