ADVISORY AND TRANSACTIONAL SERVICES FOR SELLERS AND INVESTORS

BB&T – Port Saint Lucie, FL – Ground Lease

1720 SW Gatlin Boulevard
Sold

SALE PRICE: $4,150,000
CAP RATE: 4.41%

PROPERTY HIGHLIGHTS:

  • EXCELLENT RETAIL LOCATION — Outparcel to Sam’s Club along SW Gatlin Blvd. (28.5K ADT), and near other major national retailers including Walmart Supercenter, Home Depot, Bass Pro Shops, Publix & Target. Located about 1.5 miles from I-95 with access to Miami & Jacksonville and 2.5 miles from Tradition Center for Innovation, a research laboratory & campus providing 30K+ jobs to Port St. Lucie.
  • EXPANSIVE TRADE AREA — Nearly 121,000 people, with an average household income of $70K+, within five miles of the property. As of 2015, Port Saint Lucie has surpassed Fort Lauderdale in population making it the 3rd largest city in South FL & 8th largest city in FL. The city is part of the Miami-Ft. Lauderdale-Port St. Lucie CSA, the largest in FL (6.6M+ people).
  • ESTABLISHED, RECOGNIZED TENANT — BB&T, as of June 30, 2016, is one of the largest financial services holding companies in the U.S. with $221.9 billion in assets and market capitalization of $29.0 billion. The company operates 2,249 financial centers in 15 states and Washington, DC. BB&T generated record revenue in 2015 ($9.8 billion).
  • QUALITY INVESTMENT — Corporate ground lease with zero landlord responsibilities and fixed 10% rental increases every 5 years throughout the base lease term and options. Florida has no state income tax, providing a low tax burden for the investor.
  • There are no features available

$4,150,000

2,636 SF

Price:

$4,150,000

Cap Rate:

4.41%

Building Size:

2,636 SF

SF Land Area:

1.01 acres

Current NOI:

$182,875

Lease Type:

Ground

Remaining Term:

Seventeen (17) Years

Status:

Closed

CONTACT BROKER

Michael Zimmerman

(919) 391-9901

Download Offering Memorandum
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