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    5180 Turnpike Feeder Rd Fort Pierce, FL 34951

    Sponsored
    For Sale
    $2,499,000

    Fort Pierce, FL retail center, 7 tenants, high occupancy.

    Property size:
    9,600 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    Lakewood Park Plaza, a prime retail investment opportunity located at 5180 Turnpike Feeder Rd, Fort Pierce, FL 34951, presents a compelling opportunity for discerning investors. This established 9,776 square foot shopping center comprises three single-story buildings, totaling 15 units and housing seven tenants across diverse retail uses including a grocery store and restaurant. Boasting 100% occupancy since November 30, 2021, the property generates a strong net operating income (NOI) of $107,124, yielding a 4.29% cap rate on an asking price of $2,499,000 ($260.31/sq ft). Built in 1981, the property is classified as Class B and sits on a commercially zoned lot within a thriving neighborhood. The property includes 30 parking spaces and allows for rent bumps. This sale-leaseback opportunity offers a stable income stream with potential for future appreciation, driven by ongoing development and increasing demand in the Fort Pierce area. The property's strategic location near Kings Hwy and State Road 70, coupled with the planned expansion of local arts and cultural programs, further enhances its long-term investment prospects. The property's established nature and reliable tenants contribute to its overall value and stability.

    Property Features for 5180 Turnpike Feeder Rd

    General Information

    Property type
    Lifestyle centers
    Square Feet
    9,600 SF
    Class
    B

    Building Details

    Year Built
    1981
    Buildings
    3
    Stories
    1
    Units
    15

    HighLights

    • $2,499,000 asking price for a 9,776 square foot retail property in Fort Pierce, FL.
    • Multi‑tenant property (7 tenants) with 100% occupancy since November 30, 2021.
    • Features three, one‑story buildings totaling 9,600 square feet, built in 1981, with 30 parking spaces.
    • Sale‑leaseback opportunity with a 4.29% cap rate and a $107,124 Net Operating Income (NOI).
    • Located at 5180 Turnpike Feeder Rd, Fort Pierce, FL 34951, zoned for commercial neighborhood use.
    • Includes rent bumps and a broker co‑op opportunity, suitable for a 1031 exchange.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mi Tierra Latin ... Grocery Store

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon 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
    -80.3923951
    Latitude
    27.52955778

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    FAQs

    What type of property is this?
    Lifestyle center - Fort Pierce, FL retail center, 7 tenants, high occupancy.
    Where is this lifestyle center located?
    The property is located at 5180 Turnpike Feeder Rd Fort Pierce, FL.
    What is the asking price?
    The asking price for this property is $2,499,000.
    What are key features of this property?
    This property features: $2,499,000 asking price for a 9,776 square foot retail property in Fort Pierce, FL.; Multi-tenant property (7 tenants) with 100% occupancy since November 30, 2021.; Features three, one-story buildings totaling 9,600 square feet, built in 1981, with 30 parking spaces.
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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
    5180 Turnpike Feeder Rd Fort Pierce, FL 34951
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