For Sale
$4,923,000

1831 Us Highway 1Fort Pierce, FL 34946

High-growth area, strong NOI, NNN lease.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a newly constructed Caliber Car Wash located in Fort Pierce, Florida, at 1831 N US Hwy 1, 34946. Boasting a 3,770 square foot building on a 1.49-acre lot, this single-tenant property offers a 19.3-year remaining lease term (commencing February 29, 2024 and expiring February 29, 2044) with attractive 1.5% annual rent bumps. The property benefits from a strong Net Operating Income (NOI) of $320,000, resulting in a 6.50% cap rate. The asking price is $4,923,000. This prime location fronts US Highway 1, averaging 39,100 vehicles per day, and enjoys proximity to Taylor Creek Commons, a significant Publix-anchored shopping center featuring national retailers. Furthermore, its location is just 4 miles from Treasure Coast International Airport (FPR). The area is experiencing substantial population growth, exceeding state averages, making this a compelling investment in a thriving market. The lease includes four 5-year options. The property's APN is 2404-111-0006-000-9. The property is situated within a dynamic area experiencing significant development, including the upcoming King's Landing project, which will add residential units, a hotel, and substantial retail space to the immediate vicinity. This car wash is a turnkey investment with significant upside potential.

Highlights

  • High population growth in Fort Pierce, FL, exceeding state averages.
  • High-traffic location on US Hwy 1 (39,100 VPD), adjacent to a Publix-anchored shopping center with national tenants.
  • Proximity to Treasure Coast International Airport (FPR), within 4 miles.
  • Nearby King's Landing development (Q4 2023 groundbreaking) featuring residential units, hotel, and significant retail/restaurant space.

Property Details for 1831 Us Highway 1

Property type
Specialty properties, Car washes
Square Feet
3,770 SF
Year Built
2024
Lot Size (sq. ft)
64,904 SF

Location Insight

City
Fort Pierce
County
St. Lucie
State
Florida
Latitude
27.4680777
Longitude
-80.333688
1831 Us Highway 1, Fort Pierce, Florida

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1831 Us Highway 1
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