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    3218 Us Highway 1 Fort Pierce, FL 34982

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

    Property Features for 3218 Us Highway 1

    General Information

    Property type
    Retail space
    Lot Size
    29,185 SF

    Building Details

    Year Built
    1976
    Buildings
    1

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    Listing Contact
    Alexander Machado
    Alexander Machado

    Listing Agency: Matthews Real Estate Investment Services | Fort Lauderdale Listing Agent: Alexander Machado

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    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 Profile Location Intelligence

    Current Use by Public Records

    Curaleaf Dispensary Fort ... (Bike/Boat/Book/etc) Store FT. Pierce Curaleaf Pharmacy

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    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?
    Retail space - High-yield, NNN-leased pharmacy; strong tenant.
    Where is this retail space 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.
    (305) 359-5207 Call to check price and availability
    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 Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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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    Contact for Pricing
    Please call us for current price
    and status of this listing Alexander Machado
    Alexander Machado
    Real Estate License ID: SL3507121
    (305) 359-5207 (305) 905-3215 (866) 899-0550
    Learn more
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