Description
Price | $3,600,000 | Sale Conditions | Investment Triple Net |
Property Type | Retail | No. Stories | 1 |
Property Sub-type | Year Built | 2007 | |
Building Class | C | Parking Ratio | 2.44/1,000 SF |
Sale Type | Investment | Zoning Description | Commercial |
Cap Rate | 6.75% | APN / Parcel ID | 34-20-535-0001-0009 |
Lot Size | 1.72 AC | Walk Score ® | 19 (Car-Dependent) |
Gross Leasable Area | 9,838 SF |
Listing ID: 13895775 | Date Created: 09/27/2018 | Last Updated: |
Description
The Subject is situated on Southwest Del Rio Boulevard which provides direct frontage on a main road that weaves it way through the heart of the very dense residential market of Port Saint Lucie.
Highlights
- 2007 Construction
- Convenience Oriented Center – All Service Based Tenants
- Captive Consumer Base
- Hard Corner With Outstanding Access
- AVG HHI $75,905
- Dense Infill Residential Market
Sale Notes
We are pleased to offer the fee simple interest in Saint Lucie Shoppes, located in Port Saint Lucie, FL. The Subject is situated on Southwest Del Rio Boulevard which provides direct frontage on a main road that weaves it way through the heart of the very dense residential market of Port Saint Lucie.
The Subject, one building consisting of 9,990 leaseable square feet, was originally built in 2007. Subway has been operating in the building since 2007 and Elite Cuts has been operating in the Subject since 2011, as well as, Seven7 Two Creative Illusions executing a three year lease in 2018. The opportunity for upside in leasing up the vacant suite is present in the building as well.
This is an ideal asset for an Owner/User as the convenience store has shown strong gross revenues and net profits.
This asset provides multiple strengths that many investors can appreciate: multiple tenants with tenured occupancy, newer construction and very limited competing buildings in the immediate market. This provides the new investor a captive tenant base with high barriers to entry and low rents that cannot be matched with cost- prohibitive newly constructed buildings. It also provides an expanding convenience store operator the opportunity to expand into an established location with strong in
place revenues and operation.
Major Tenant Information
Tenant | SF Occupied | Lease End Date |
---|---|---|
China Garden | – | |
Convenience Store | – | |
Elite Cuts | – | |
Michael’s Catering Services | – | |
Seven 7 Two Creative Illusions | – | |
Subway | – |
NNN Tenant Information
Tenant | SF Occupied | Lease End Date |
---|---|---|
China Garden | – | |
Convenience Store | – | |
Elite Cuts | – | |
Michael’s Catering Services | – | |
Seven 7 Two Creative Illusions | – | |
Subway | – |
Amenities
Bus Line | Signage |
Dedicated Turn Lane | Signalized Intersection |
Pylon Sign |
Traffic
Collection Street | Cross Street | Traffic Vol | Year | Distance |
---|---|---|---|---|
SW Bayshore Blvd | SW Ray Ave, N | 22,600 | 2016 | 1.16 mi |
SW Bayshore Blvd | SW Ray Ave, N | 22,600 | 2017 | 1.16 mi |
SW Bayshore Blvd | SW Donna Ter, NW | 16,300 | 2017 | 1.52 mi |
SW del Rio Blvd | SW Seagull Ter, NW | 15,000 | 2017 | 1.66 mi |
SW Port St Lucie Blvd | SW Sansom Ln, SW | 32,200 | 2017 | 1.69 mi |