For Sale
$4,029,000

250 Peacock BlvdPort St. Lucie, FL 34986

High-return NNN lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a fee-simple ownership of a 25,000-square-foot Class A fitness center in Port St. Lucie, Florida. Located at 250 NW Peacock Blvd (APN 3326-685-0001-000-2), this single-story building, constructed in 2004 and extensively renovated in 2022, boasts a 100% occupancy rate under a Net Lease (NNN) agreement. The current lease expires August 31, 2027, with three 5-year options at 3% annual rent bumps, providing excellent inflation protection. The property generates a substantial Net Operating Income (NOI) of $342,498, yielding an attractive 8.50% cap rate at an asking price of $4,029,000 ($161.16/sq ft). The tenant, operating successfully for over 20 years, recently completed a $2,000,000 renovation, ensuring state-of-the-art facilities. Situated on a 2.89-acre lot in a high-growth area (Port St. Lucie is ranked among the fastest-growing cities in the US), the property benefits from a dense retail corridor including major national brands like Walmart, AMC Theatres, and numerous restaurants. The surrounding area boasts a high average household income and significant consumer spending, making this a compelling investment with strong long-term potential. The property is zoned for General Commercial use.

Highlights

  • NNN lease structure offers passive income.
  • Established health club tenant with 20+ years of successful operation.
  • Recent $2M tenant investment in facility upgrades.
  • 3% annual rent increases provide inflation protection.
  • Three 5-year lease option periods with 3% annual increases.
  • Market rent of $13.39/SF.

Property Details for 250 Peacock Blvd

Property type
Retail properties
Square Feet
25,000 SF
Class
A
Year Built/Renovated
2004/2022
Buildings
1
Stories
1
Lot Size (sq. ft)
125,888 SF
Units
1

Location Insight

City
Port St. Lucie
County
St. Lucie
State
Florida
Latitude
27.315994018532
Longitude
-80.40929487496
250 Peacock Blvd, Port St. Lucie, Florida

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250 Peacock Blvd
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