5180-5186 Turnpike Feeder Rd
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5180-5186 Turnpike Feeder Rd
9,672 SF 100% Leased Retail Building Fort Pierce, FL 34951 $2,499,000 ($258/SF) 4.29% Cap Rate
Executive Summary
Lakewood Park Plaza, located in Fort Pierce, is a prime 15-unit, three-building property with a unique investment opportunity. Although investing in a property with a lower cap rate can initially appear less attractive, several upsides make it a worthwhile consideration for future investments. There is potential for future appreciation as the area develops and demand increases. Investors may keep it running as is. Or implement value-adding strategies, such as renovations, necessities, or cosmetics. By recognizing the long-term growth potential and the opportunity to create equity, buyers can turn a low-cap rate property into a lucrative investment for the future.
With an exceptional location and steady demand for the area's commercial growth, the tenants are reliable. They also add future value to this long-term investment strategy.
Respectfully, Paula Zaluski - Realtor
With an exceptional location and steady demand for the area's commercial growth, the tenants are reliable. They also add future value to this long-term investment strategy.
Respectfully, Paula Zaluski - Realtor
Property Facts Under Contract
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
9,672 SF
Building Class
B
Year Built
1981
Price
$2,499,000
Price Per SF
$258
Cap Rate
4.29%
NOI
$107,124
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.16
Lot Size
1.43 AC
Zoning
CN - Commercial/Neighborhood
Parking
30 Spaces (3.1 Spaces per 1,000 SF Leased)
Frontage
190 FT on Turnpike Feeder Road
Amenities
- Pylon Sign
- Signage
- Air Conditioning
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease End
- CBD
- -
- 1,600 SF
- -
- -
- Doris White Realty
- -
- 1,800 SF
- -
- -
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease End | ||
| CBD | - | 1,600 SF | - | - | ||
| Doris White Realty | - | 1,800 SF | - | - |
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 13-01-615-0079-0009 | Improvements Assessment | $813,600 |
| Land Assessment | $102,300 | Total Assessment | $915,900 |
PROPERTY TAXES
Parcel Number
13-01-615-0079-0009
Land Assessment
$102,300
Improvements Assessment
$813,600
Total Assessment
$915,900
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5180-5186 Turnpike Feeder Rd
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