10959 Village Pkwy Port St. Lucie, FL 34987
- Retail properties
- 1,900 SF
- 0.75 lot acres
Current Use by Public Records
- Retail properties
Property Details for 10959 Village Pkwy
- Year built
- 2024
- Lot size
- 0.75 lot acres
- Property size
- 1,900 SF
- Property type
- Retail properties
- Property subtype
- Banks
Description
This exceptional investment opportunity presents a 1,900 square foot retail property in Port St. Lucie, Florida, featuring a new 20-year absolute NNN ground lease with Fifth Third Bank, commencing October 13, 2024, and expiring October 30, 2044. The property boasts a 4.25% cap rate and a strong net operating income (NOI) of $135,000. Situated on a 0.75-acre lot, this strategically located outparcel benefits from its prime position at the main entrance to Tradition, a thriving master-planned community with over 40,000 residential units and high average household incomes exceeding $114,000 within a one-mile radius. The property enjoys excellent visibility and accessibility, sharing a signalized intersection with major retailers including Publix, Fresh Market, Target, TJ Maxx, Ulta, LA Fitness, and Panera Bread. Fifth Third Bank, rated A- by Fitch, operates approximately 1,200 branches across ten states, demonstrating a significant long-term commitment to this location. The lease includes a built-in 10% rent increase every five years, providing a hedge against inflation and ensuring consistent cash flow. This passive ownership opportunity offers significant advantages, including a stable income stream and the benefits of Florida's favorable tax environment (no state income tax). The property was built in 2024 and currently enjoys 100% occupancy. The lease includes four five-year renewal options.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Port St. Lucie
- County
- St. Lucie
- State
- Florida
- Longitude
- -80.4311
- Latitude
- 27.2663
