Goodwill | 3535 SW 9th St
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Goodwill 3535 SW 9th St
13,768 SF Retail Building Vero Beach, FL 32968 $5,967,415 ($433/SF) 6.15% Cap Rate
Investment Highlights
- The lease has been extended early twice by the Tenant since inception, reflecting a continued commitment to the location
- Close proximity to two retail centers featuring major grocery chains Publix and Winn-Dixie
- Location - Frontage and easy ingress and egress to Oslo Road/9th St SW, (20,500 VPD) & minutes from Interstate-95 (56,000 VPD)
- Considerable interior renovations planned in 2024 by tenant
- Neighboring retailers include, Walgreens, PNC Bank, CVS, Advance Auto Parts, Dunkin', Dollar Tree, & several others
- Positioned within the West Palm Beach MSA - Ranked #9 in the United States for population size
Executive Summary
The Boulder Group is pleased to exclusively market for sale a single tenant net leased Goodwill property positioned within the West Palm Beach MSA in Vero Beach, Florida. Goodwill has been successfully operating at this location since its construction in 2008. Goodwill recently extended the lease through August 2034 which demonstrates commitment to the location. Additionally, Goodwill has considerable interior renovations planned for this property that will be completed in 2024-2025. There will be a 5% rental escalation in 2030 with 1.4% annual escalations thereafter. The lease also features two 5-year renewal options at the end of the extended term. As an added benefit for investors, Florida is an income tax free state.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
13,768 SF
Building Class
B
Year Built/Renovated
2008/2024
Price
$5,967,415
Price Per SF
$433
Cap Rate
6.15%
NOI
$366,996
Tenancy
Single
Building Height
1 Story
Building FAR
0.17
Land Acres
1.84 AC
Zoning
CL
Frontage
181 FT on 9th St SW
PROPERTY TAXES
| Parcel Number | 33-39-27-00001-0030-00001.7 | Improvements Assessment | $944,058 |
| Land Assessment | $272,510 | Total Assessment | $1,216,568 |
PROPERTY TAXES
Parcel Number
33-39-27-00001-0030-00001.7
Land Assessment
$272,510
Improvements Assessment
$944,058
Total Assessment
$1,216,568
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Goodwill | 3535 SW 9th St
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