ASKING PRICE: $1,599,590
CAP RATE: 6.35%
- PROMINENT RETAIL LOCATION — New condo adjacent to Staples across from 12th Street Plaza (138K+ community center anchored by Publix, Stein Mart & Planet Fitness). Corner location at the busy intersection of U.S. Highway 1, a main route running along the entire coastline of FL, & 12th St. (37.3K combined ADT). The area around the property is currently experiencing extraordinary population growth, with the population expected to grow by 8.4% within the next 5 years.
- SUCCESSFUL, ESTABLISHED TENANT — Dollar Tree is the largest and most successful single-price-point retailer in North America, operating over 14,300 stores throughout the U.S. & Canada.
- QUALITY INVESTMENT — Incremental rent increases every 5 years and minimal landlord responsibilities. No state income tax in FL provides a low tax burden for the investor.
- AFFLUENT TRADE AREA — Over 86,000 people, with an average household income of $72K+, within five miles of the property. Vero Beach is a city in, and the seat of Indian River County, Florida, the state’s 7th richest county, & is included in the Miami-Fort Lauderdale-Port St. Lucie CSA (population of 6.7M+ as of 2016).
- DESIRABLE MARKET — Vero Beach is a popular tourist destination with more than 26 miles of white sandy beaches along FL’s Treasure Coast. The city, also home to Disney’s Vero Beach Resort, is a hub for water sports, upscale shopping, fine art galleries, theatre & more.
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