5180 Turnpike Feeder Rd Fort Pierce, FL 34951

This exceptional multi-tenant retail property, located at 5180 Turnpike Feeder Road in Fort Pierce, Florida, presents a compelling investment opportunity. The 9,672 square foot plaza comprises three single-story buildings, constructed in 1981, and features a diverse mix of seven tenants across fifteen units, boasting a 95% occupancy rate. The property offers 42 parking spaces and sits on a strategically located site along Turnpike Feeder Road, providing excellent visibility and accessibility, with convenient access to I-95. Currently generating a Net Operating Income (NOI) of $107,124, this translates to an attractive 4.29% capitalization rate. The property is zoned for Neighborhood Commercial use. The asking price is $2,499,000, and the sale is structured to accommodate a 1031 exchange. Rents are currently experiencing a 3% annual increase, reflecting the strong growth in the Fort Pierce area. This owner-user investment presents a solid foundation for future growth, with potential for further rent increases and property improvements to enhance value. The property's location within a rapidly developing economic area, coupled with its high occupancy and strong NOI, makes it an ideal investment for long-term growth and potential appreciation. There is no ground lease associated with this property.