LAKEWOOD PARK PLAZA 5180-5186 Turnpike Feeder Rd

Investment Highlights

LAKEWOOD PARK PLAZA has forward potential, and rents are still somewhat low. Some tenants have been renting and are due to renew at a new rate.

Executive Summary

This 15-unit commercial plaza is an exceptional investment opportunity with promising upside potential. Spanning over a spacious area, the plaza is strategically located in a high-traffic area, ensuring maximum visibility and footfall. The exterior of the plaza boasts a modern design, capturing the attention of passersby and setting it apart from neighboring establishments. It features a well-maintained parking area, providing convenient access for customers and businesses. The leasing terms for the units are competitive, making it an attractive proposition for entrepreneurs and established companies seeking this prime location. The new growth potential, including the Arts Cultural Programing and the renovation of Old City Hall, to name a few, are coming to Fort Pierce and the surrounding area?Turnpike Feeder Road, near Kings Hwy and State Road 70. The zoning is Commercial/Neighborhood. This is one of the few pieces of property that function as a commercial plaza. Ready for the new owner. Excellent for a 1031 or Cash buyer.

• Sale Type    Investment
• Sale Condition    1031 Exchange
• Property Type    Retail
• Property Subtype    Storefront Retail/Office Storefront Retail/Office General Retail Convenience Store General Retail Restaurant General Retail Storefront Storefront Retail/Office
• Building Size    9,672
• Building Class    B
• Year Built    1981
• Price    2,877,000
• Price Per SF    297
• Cap Rate    3.40
• NOI    97,907
• Percent Leased    100
• Tenancy    Multiple
• Building Height    1 Story
• Building FAR    0.16
• Land Acres    1.43 AC

• Pylon Sign
• Signage