Listed by Fausto Commercial
$2,500,000
High-Exposure Mixed-Use | Car Wash Anchor & Retail | 63K+ SF
Details
APN 2408-322-0001-000-4
Property Type Retail, Special Purpose
Sub Type Storefront, Retail Space
Square Footage 9,060
Net Rentable (SqFt) 9,000
Tenancy Multi
Pro-Forma Cap Rate 6.12%
Pro-Forma NOI $152,876
Price per SqFt $276
Year Built 2008
Year Renovated 2008
Lot Size (SqFt) 68,389
Zoning General
Investment Type Stabilized
Ground Lease No
CG-Zoned Site with Strong In-Place Income, Beach Corridor Exposure
Marketing description
Mixed-use investment on 1.45 AC CG-zoned parcel at I-95 Exit 131 in Fort Pierce. 9,060 SF total: 24-hour multi-bay car wash (vacant, equipment in place) plus 5-bay retail strip. Four bays leased (coin laundry thru 8/2027 w/4% annual increases, church in two bays thru 8/2028 w/5% increases, salon MTM) generating $105,264/yr current income. Vacant second-generation restaurant bay includes full commercial kitchen with hood, range, fryers and refrigeration. Approx. 17,500 vehicles/day on Orange Ave frontage plus 72,400 vehicles/day I-95 exposure (FDOT 2023). Projected pro forma NOI approx. $152,876/yr after 5% vacancy and 2% reserves at owner-provided rents, a projected 6.1% cap at list.
Strong fit for owner-operator (retail rent offsets carry), value-add investor (lease-up plus approx. 28% mark-to-market on occupied bays), or long-term hold with redevelopment optionality. CG zoning allows automotive, retail, office, restaurant, hotel. Seller financing available.
Investment highlights
- Car wash anchor with 24-hour format and equipment in place
- Second-gen restaurant bay dramatically lowers tenant build-out cost
- Approximately 28% projected mark-to-market upside on occupied bays
- Contractual rent increases of 4% to 5% on in-place leases
- CG zoning flexibility: automotive, retail, office, restaurant, entertainment, hotel
- Seller financing available
Listing Contacts
Listed by Fausto Commercial
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