5180 Turnpike Feeder RdFort Pierce, FL 34951

Lakewood Park Plaza, a prime retail investment opportunity located at 5180 Turnpike Feeder Rd, Fort Pierce, FL 34951, presents a compelling opportunity for discerning investors. This established 9,776 square foot shopping center comprises three single-story buildings, totaling 15 units and housing seven tenants across diverse retail uses including a grocery store and restaurant. Boasting 100% occupancy since November 30, 2021, the property generates a strong net operating income (NOI) of $107,124, yielding a 4.29% cap rate on an asking price of $2,499,000 ($260.31/sq ft). Built in 1981, the property is classified as Class B and sits on a commercially zoned lot within a thriving neighborhood. The property includes 30 parking spaces and allows for rent bumps. This sale-leaseback opportunity offers a stable income stream with potential for future appreciation, driven by ongoing development and increasing demand in the Fort Pierce area. The property's strategic location near Kings Hwy and State Road 70, coupled with the planned expansion of local arts and cultural programs, further enhances its long-term investment prospects. The property's established nature and reliable tenants contribute to its overall value and stability.