Panther Bay
Multifamily | 60 Units
Marketing description
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)
Investment 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
Recent Capital Improvements – Renovated in 2012 with updated systems, amenities, and interior finishes
Fully Sprinklered Buildings – Equipped with elevators and modern life-safety features
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