1831 US 1 hwy - Caliber Car Wash - Port St. Lucie MSA 3,770 SF Specialty Building Offered at $4,997,000 at a 6.50% Cap Rate in Fort Pierce, FL 34946
INVESTMENT HIGHLIGHTS
- Brand New 20-Year Lease | Corporate Guaranteed Lease | Annual Rental Increases | Options To Extend
- Bonus Depreciation | Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities | No State Income Tax
EXECUTIVE SUMMARY
Fort Pierce, FL - Population Growth
• Since COVID, Fort Pierce has experienced significant population growth
• Fort Pierce has had 18.5% population growth over the last decade, exceeding the state’s population growth of 14.2%
• 2.5% year over year population growth for the past six years
Fronting US Hwy 1 | Taylor Creek Commons | King’s Landing | Treasure Coast International Airport (FPR)
• The subject property is strategically fronting US Hwy 1 averaging 39,100 VPD
• Next to Taylor Creek Commons, a 60,000 SF Publix-anchored neighborhood center that features national tenants such as CVS, Family Dollar, Wendy’s, and more
• Located 4 miles from Treasure Coast International Airport (FPR)
• The most recent development project underway in Fort Pierce is called King’s Landing, set to be built on the seven acres of land between Second Street and Indian River Drive in downtown Fort Pierce
• The King’s Landing development, set to break ground Q4 2023, will include:
• 116 residential units
• 106 condos
• 140-room hotel
• 35,000 SF of restaurant space
• 17,000 SF of retail
• 179-space parking garage, 129 surface spaces – 308 total parking spaces
• Since COVID, Fort Pierce has experienced significant population growth
• Fort Pierce has had 18.5% population growth over the last decade, exceeding the state’s population growth of 14.2%
• 2.5% year over year population growth for the past six years
Fronting US Hwy 1 | Taylor Creek Commons | King’s Landing | Treasure Coast International Airport (FPR)
• The subject property is strategically fronting US Hwy 1 averaging 39,100 VPD
• Next to Taylor Creek Commons, a 60,000 SF Publix-anchored neighborhood center that features national tenants such as CVS, Family Dollar, Wendy’s, and more
• Located 4 miles from Treasure Coast International Airport (FPR)
• The most recent development project underway in Fort Pierce is called King’s Landing, set to be built on the seven acres of land between Second Street and Indian River Drive in downtown Fort Pierce
• The King’s Landing development, set to break ground Q4 2023, will include:
• 116 residential units
• 106 condos
• 140-room hotel
• 35,000 SF of restaurant space
• 17,000 SF of retail
• 179-space parking garage, 129 surface spaces – 308 total parking spaces
PROPERTY FACTS
| Price | $4,997,000 |
| Price Per SF | $1,325.46 |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| Sale Condition | Build to Suit |
| Property Type | Specialty |
| Property Subtype | Car Wash |
| Building Class | B |
| Lot Size | 1.66 AC |
| Building Size | 3,770 SF |
| No. Stories | 1 |
| Year Built | 2024 |
| Parking Ratio | 8.49/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | C-3 - General Commercial |
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PROPERTY TAXES
| Parcel Number | 24-04-111-0006-0009 | Improvements Assessment | $0 |
| Land Assessment | $371,300 | Total Assessment | $371,300 |
