Property Description

Recent sales of similar centers in Jensen Beach and Port St. Lucie are running about $230-$265 per square foot, with buyer returns in the mid-5% to low-7% range. This property is fully leased to stable medical and community-service tenants, so its value falls comfortably in that band even though current rents are still a bit below market. Two tenants had leases come due in 2025 and are now month-to-month, giving a new owner a clear chance to raise rents closer to market over the next few years. At the asking price of about per square foot, the property delivers an in-place return of roughly 7.1%, which offers both solid current income and room for future rent growth. It is also priced below what it would cost to build something similar today and is competitive with other retail-medical properties that have sold recently in the area.