Asking Price: $2,511,111
Cap Rate: 4.50%
- Prime retail location: New construction at a signalized intersection along U.S. Highway 1, a major north-south route serving the U.S. East Coast. Near other national retailers and adjacent to Indian Hills Country Club and Golf Course. Centralized, strategic location with access to Interstate 95 and Florida’s Turnpike nearby.
- Established, recognized retail tenant: ALDI has over 1,600 stores in 35 states, and the company is expected to own 2,000 stores in the U.S. by 2018. ALDI regularly serves approximately 40 million customers every month, and the company has an estimated combined turnover of more than $59 billion annually.
- Quality, long-term investment: Fifteen-year base lease with six options to extend with a 6 percent increase every five years. Ground lease means no landlord expenses. No state income tax in Florida provides a low tax burden for the investor.
- Tourist-driven market: Fort Pierce is part of the greater Port St. Lucie metropolitan area, which brings in more than 12 million visitors annually. The city lies between two major tourist destinations on the eastern Florida coastline: Vero Beach and Port St. Lucie. Fort Pierce is approximately one hour north of West Palm Beach, one of the three main cities in South Florida.
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