2402-2406 S US Highway 1 - Freestanding FOR SALE


Fort Pierce, FL 34982- Fort Pierce South
$2,599,000 USD
305-496-0901
2402-2406 S US Highway 1, Fort Pierce, FL for Sale
$2,599,000 USD
Freestanding - FOR SALE
1/25
null | Request Cap Rate

2402-2406 S US Highway 1
Fort Pierce, FL 34982
Fort Pierce South


HIGHLIGHTS

  • Mixed Use & Development Opportunity with In-Place NNN Cash Flow
  • Portfolio of 3 individual properties (4 folios) provides a Buyer with an opportunity to own prime real estate along the US 1 corridor in Ft. Pierce
  • NNN Cash Flow from national retail brand Tuff Shed (multiple years remaining on lease w/ annual rental rate increases)
  • Fully-leased residential Tri-Plex on adjacent lot
  • Additional Vacant developable land (23,320 SF) with plans for a new industrial warehouse/storage building
  • Prime corner location along S. US HWY 1 with more than 35,000 vehicles per day / across from Sable Palm Shopping Center & Publix

OVERVIEW

Berkshire Hathaway Homeservices EWM Realty (“BHHS EWM Realty”) is pleased to present the opportunity to purchase this multi-parcel commercial portfolio located in the heart of Fort Pierce, Florida in St. Lucie County. The portfolio consists of 3 individual properties (4 folios), and provides a Buyer with an opportunity to own prime real estate along the bustling US 1 corridor in Fort Pierce. The properties offer future development potential, while enjoying the existing cash flow streams generated by a single-tenant NNN Lease with the national retail brand Tuff Shed, as well as from a residential triplex building. The properties are located one block south of the intersection of US-1 and State Road 70 which is one of the major arteries leading into downtown Fort Pierce from I-95 and Florida’s Turnpike. The Tuff Shed property is a corner lot composed of two adjoining parcels (2 separate folios) that front US-1 to the west, Indian Hills Drive to the north, and S. 3rd Street to the east. The adjacent residential triplex property is contiguous and to the east of the Tuff Shed parcel and fronts Indian Hills Drive to the north and S. 3rd Street to the east. This parcel features a large open parking area along with double egress/ingress to the north and east. The vacant developable lot is located across the street to the north of Indian Hills Drive and is composed of 23,320 SF (0.54 acres) and is zoned C3 – General Commercial. The fully-paved & gated/fenced lot is currently part of the Tuff Shed lease and is mainly used for storage of their shed inventory. Plans exist for a future 4,000 SF industrial warehouse/storage building. To accommodate potential future development, the lot already features a full array of underground utilities and new sidewalks. The Portfolio is surrounded by national retailers. Sable Palm Plaza is located across US-1 and features brands such as Publix, Jersey Mike’s, Wendy’s and Chase Bank. One block to the north of State Road 70 is the newly-refurbished Gateway Plaza which features Starbucks, Planet Fitness, Wingstop, Ross and a Wawa outparcel. Addresses: Tuff Shed Property (2 folio numbers): 2402 S. US HWY 1 (a/k/a 307 Indian Hills Dr.) Residential Tri-Plex Property: 303 Indian Hills Dr. Vacant Developable Lot: 330 Indian Hills Dr. Please see Offering Memorandum Attached for complete details.

FOR SALE DETAILS

PRICE

$2,599,000 USD

PRICE/SF

$515 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mixed-Use Portfolio with Developable Land

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Storefront Retail/Residential, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1976

SPRINKLERS

-

PARKING SPACES

40

LAND DETAILS

LAND ACRES

1.05 AC

LAND SF

45,738 SF

ZONING

C3

APN/PARCEL ID

24-22-601-0004-0005,2422-601-0001-000-4,2422-601-0003-000-8,2422-601-0005-000-2

ASK ABOUT THIS PROPERTY

Frank KisselEWM CommercialMore Info
305-496-0901

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Frank KisselEWM CommercialMore Info
305-496-0901

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.