3218 Us Highway 1 Fort Pierce, FL 34982
- Retail properties
- 0.67 lot acres
Current Use by Public Records
- Curaleaf Dispensary Fort Pierce / Cannabis Store / Alternative Medicine Practitioner
- FT. Pierce Curaleaf / Pharmacy
Property Details for 3218 Us Highway 1
- Year built
- 1976
- Lot size
- 0.67 lot acres
- Property type
- Retail properties
- Property subtype
- Retail space
Description
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.
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
- Fort Pierce
- County
- St. Lucie
- State
- Florida
- Longitude
- -80.3254
- Latitude
- 27.408
