502 GARRISON AVE | PORT SAINT JOE FL 32456-1606
USPS-Leased Post Office | Near-NNN Lease | 5.00% Cap Rate | 11,454 SF
Marketing description
The Offering presents a rare opportunity to acquire a purpose-built United States Postal Service (USPS)-leased post office facility in Port St. Joe, Florida. The Property consists of approximately 11,454 square feet and is fully occupied by the United States Postal Service under a favorable near triple-net (NNN) lease structure.
The Property generates current annual rental income of approximately $140,000, with the next scheduled renewal term increasing annual rent to $150,000. The lease provides investors with stable, predictable cash flow while minimizing ongoing ownership responsibilities. Under the lease, the tenant is responsible for real estate taxes, insurance, HVAC systems, parking lot maintenance, structural maintenance, and substantially all operating expenses. Landlord responsibilities are limited primarily to roof maintenance.
Purpose-built postal facilities of this scale are rarely available and possess characteristics that are difficult to replicate. The site offers the parking, circulation, access, and operational functionality required for USPS operations, creating meaningful replacement-cost barriers and supporting long-term occupancy. The Property is further enhanced by its location within Flood Zone X (Area of Minimal Flood Hazard), reducing flood-related risk relative to many coastal investment properties throughout the Gulf County region.
Backed by one of the nation's most recognized essential-service tenants, this Offering combines stable government tenancy, attractive net-lease economics, limited management responsibilities, and long-term investment durability, making it an exceptional opportunity for private investors, 1031 exchange buyers, and institutional net-lease purchasers.
Investment highlights
- Long-Term USPS Tenancy in a Purpose-Built Facility — Leased to the United States Postal Service, an essential-service tenant occupying a purpose-built facility designed to support long-term postal operations.
- Favorable Near Triple-Net (NNN) Lease Structure — Tenant is responsible for taxes, insurance, HVAC systems, and substantially all operating expenses, with landlord responsibility limited primarily to the roof.
- Stable Cash Flow with Contractual Rent Growth — Current annual base rent of $140,000, increasing to $150,000 during the next scheduled renewal term extending through 2034.
- Scarce Replacement Opportunity — The property's size, parking capacity, and functional layout were specifically designed for USPS operations, creating a difficult-to-replicate asset within the Port St. Joe market.
- Located in Flood Zone X — Situated within Flood Zone X (Area of Minimal Flood Hazard), offering a favorable underwriting characteristic relative to many Gulf Coast investment properties.
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