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    3218 Us Highway 1 Fort Pierce, FL 34982

    For Sale
    $3,052,971

    High-yield, NNN-leased pharmacy; strong tenant.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional investment opportunity presents a fee-simple, 10,414 square foot, single-tenant retail property located at 3218 S US Highway 1, Fort Pierce, FL 34982. The property, built in 1976 and situated on a 0.67-acre lot, is currently 100% occupied by Curaleaf, a major national operator with over 150 dispensaries and 28 cultivation sites across 19 states. The absolute NNN lease, commenced August 29, 2019, and expiring August 31, 2029, features a remaining term of approximately 4.8 years, with two 5-year renewal options exercisable simultaneously with other properties in a larger portfolio. The lease includes a corporate guarantee and attractive 3% annual rent bumps, providing a hedge against inflation. The property generates a substantial net operating income (NOI) of $213,708, resulting in a compelling 7.00% cap rate. The asking price is $3,052,971. This is a passive investment opportunity with minimal landlord responsibilities, offering significant long-term growth potential. The property's APN is 2427-123-0013-020-5. This is a single building property in St. Lucie County.

    Property Features for 3218 Us Highway 1

    General Information

    Property type
    Individual retail properties
    Lot Size
    29,185 SF

    Building Details

    Year Built
    1976
    Buildings
    1

    HighLights

    • $3,052,971 asking price for a 10,414 SF retail property.
    • Absolute NNN lease with a corporate guarantee from Curaleaf.
    • 10‑year lease (4.8 years remaining) with 2 x 5‑year options, commencing August 29, 2019, and expiring August 31, 2029.
    • 7.00% cap rate with a $213,708 NOI.
    • 3% annual rent bumps provide inflation protection.
    Property Profile Location Intelligence

    Current Use by Public Records

    Curaleaf Dispensary Fort ... Cannabis Store FT. Pierce Curaleaf Pharmacy

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Building Supply Dental Office Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fort Pierce
    County
    St. Lucie
    State
    Florida
    Longitude
    -80.3253558
    Latitude
    27.4080378

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    FAQs

    What type of property is this?
    Individual retail property - High-yield, NNN-leased pharmacy; strong tenant.
    Where is this individual retail property located?
    The property is located at 3218 Us Highway 1 Fort Pierce, FL.
    What is the asking price?
    The asking price for this property is $3,052,971.
    What are key features of this property?
    This property features: $3,052,971 asking price for a 10,414 SF retail property.; Absolute NNN lease with a corporate guarantee from Curaleaf.; 10-year lease (4.8 years remaining) with 2 x 5-year options, commencing August 29, 2019, and expiring August 31, 2029.
    Request Owner's contact information
    3218 Us Highway 1 Fort Pierce, FL 34982
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    Fort Pierce, FL 34982
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3218 Us Highway 1 Fort Pierce, FL 34982
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