Caliber Car Wash - Port St. Lucie MSA
New Construction Caliber Car Wash | New 20-Yr NNN I Bonus Depreciation | 1.5% Annual Rent Increases
Marketing description
Introducing an exceptional investment opportunity in Fort Pierce, Florida - 1831 N. U.S. Highway 1. This single-tenant absolute NNN property offers 19 years remaining on a corporate-guaranteed lease with annual rental increases and options to extend. Located in an Opportunity Zone, the property qualifies for 100% bonus depreciation, presenting a lucrative investment potential. Situated at Taylor Creek Commons near King's Landing and Treasure Coast International Airport, the property is leased to Caliber Car Wash, an established operator with over 50 locations across five states. The lease includes 1.50% annual rental escalations, showcasing a stable income stream for investors. With a cap rate of 6.50% and a rentable area of 3,770 SF on 1.49 acres of land, this property offers a solid long-term investment in a high-growth area. Don't miss this chance to own a prime commercial asset with a reliable tenant in a strategic location.
Investment highlights
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
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