Downtown Shopping & Dining
For Sale
Contact for pricing
1959 NE Jensen Beach Blvd, Jensen Beach, FL 34957
Shopping and dining center anchored by a recently renovated two-story Mulligan’s Beach House bar & grill.
Property Size22,960 SF
Price / SF$653.31
Days on Market1115
Property Features for 1959 NE Jensen Beach Blvd
General Information
Standard status
Active
Size
22,960 SF
Property subtype
OFFICE
Building Details
Tenancy
Multi
Listing Agency:
Jeremiah Baron & Co.
(772) 286-5744
Listed By:
Chris Belland · License #3345950
(772) 418-4506
Source:
Moodyscre
Added: Aug 25, 2023
Changed: Sep 10
Last Checked: Sep 12 at 6:00AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Jeremiah Baron & Co.
Investment Insights
Based on property information with market context.
This downtown shopping and dining center includes multiple retail and restaurant tenants and is anchored by a recently renovated two-story Mulligan’s Beach House bar & grill. Additional listed tenants include Mary’s Gourmet Kitchen, The Goose Pub, We Be Jammin’ Gift Shop, and Kirk’s Dive & Surf Shop.
The property is located in the heart of downtown Jensen Beach, where it benefits from walking traffic, and it sits close to residential communities, including the Seawalk single-home development.
The offering is presented for sale and includes the commercial retail mix currently operating on-site at 1959 NE Jensen Beach Blvd, Jensen Beach, FL 34957.
The property is located in the heart of downtown Jensen Beach, where it benefits from walking traffic, and it sits close to residential communities, including the Seawalk single-home development.
The offering is presented for sale and includes the commercial retail mix currently operating on-site at 1959 NE Jensen Beach Blvd, Jensen Beach, FL 34957.
Key Highlights
- Downtown Jensen Beach shopping and dining center anchored by the recently renovated two‑story Mulligan’s Beach House bar & grill
- Tenant lineup includes Mary’s Gourmet Kitchen, The Goose Pub, We Be Jamm in’ gift shop, and Kirk’s Dive & Surf Shop
- Located in the heart of downtown Jensen Beach with high walking traffic
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$422,228
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.81%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$8,444,560
$8.4M
Cap Rate 7%
$6,031,829
$6.0M
Cap Rate 9%
$4,691,422
$4.7M
Market Conditions
NOI Build-Up for 22,960 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$619.9K $27.00/SF
− Vacancy
−$16.7K −$0.73/SF
EGI
$603.2K $26.27/SF
− OpEx
−$181.0K −$7.88/SF
NOI
$422.2K $18.39/SF
Area
Martin County, FL
Vacancy
2.70%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$8,444,560
Cap Rate 7%
$6,031,829
Cap Rate 9%
$4,691,422
Alternative Uses
Best Use
Retail
$6.03M
$5.28M – $7.04M
NOI $422,228 @ 7.0% cap · market cap 2.81%
Second Best
Specialty Retail
$4.39M
$3.84M – $5.12M
NOI $307,480 @ 7.0% cap · market cap 2.05%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
566
Businesses Nearby
62k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 51%
Dining 38%
Shops & Services 8%
Home Improvements & Furnishings 2%
Publix
Groceries
31,717 visits/mo
0.3 miles
Wendy's
Dining
11,359 visits/mo
0.5 miles
Dunkin' Donuts
Dining
7,878 visits/mo
0.3 miles
Family Dollar
Shops & Services
5,171 visits/mo
0.5 miles
Cinco De Mayo
Dining
3,136 visits/mo
0.2 miles
Demographics for 34957, FL
22,955
Population
17,269
Households
1.3
Avg Household Size
59
Median Age
39%
College-Educated
94%
High-School Grad
16.4 sq mi
ZIP Area
1,400
Density / Sq Mi
$65,658
Median Household Income
$41,973
Median Earnings
$1,518
Median Rent
$378,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Shopping center - Shopping and dining center anchored by a recently renovated two-story Mulligan’s Beach House bar & grill.
Where is this shopping center located?
The property is located at 1959 NE Jensen Beach Blvd Jensen Beach, FL.
What is the asking price?
The asking price for this property is $15,000,000.
What are key features of this property?
This property features: Downtown Jensen Beach shopping and dining center anchored by the recently renovated two‑story Mulligan’s Beach House bar & grill; Tenant lineup includes Mary’s Gourmet Kitchen, The Goose Pub, We Be Jamm in’ gift shop, and Kirk’s Dive & Surf Shop; Located in the heart of downtown Jensen Beach with high walking traffic
