10959 Village PkwyPort St. Lucie, FL 34987

Property Details for 10959 Village Pkwy

Year built

2024

Lot size

0.75 AC

Property size (Sq ft)

1,900 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a 1,900 square foot retail property in Port St. Lucie, Florida, featuring a new 20-year absolute NNN ground lease with Fifth Third Bank, commencing October 13, 2024, and expiring October 30, 2044. The property boasts a 4.25% cap rate and a strong net operating income (NOI) of $135,000. Situated on a 0.75-acre lot, this strategically located outparcel benefits from its prime position at the main entrance to Tradition, a thriving master-planned community with over 40,000 residential units and high average household incomes exceeding $114,000 within a one-mile radius. The property enjoys excellent visibility and accessibility, sharing a signalized intersection with major retailers including Publix, Fresh Market, Target, TJ Maxx, Ulta, LA Fitness, and Panera Bread. Fifth Third Bank, rated A- by Fitch, operates approximately 1,200 branches across ten states, demonstrating a significant long-term commitment to this location. The lease includes a built-in 10% rent increase every five years, providing a hedge against inflation and ensuring consistent cash flow. This passive ownership opportunity offers significant advantages, including a stable income stream and the benefits of Florida's favorable tax environment (no state income tax). The property was built in 2024 and currently enjoys 100% occupancy. The lease includes four five-year renewal options.

Location Insight

City

Port St. Lucie

County

St. Lucie

State

Florida

Latitude

27.2663

Longitude

-80.4311

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