1529 Avenue D

Investment Overview

Fully occupied two-story mixed-use investment at 1523-1529 Avenue D in Fort Pierce. The 4,788 SF masonry building offers three ground-floor storefronts leased to local service and restaurant tenants, including a long-time Jackson Hewitt tax office, plus two second-floor apartments. Current gross rent is $85,860 per year with in-place NOI of $69,328 - a 7.71% cap rate at the asking price. Commercial tenants pay their own utilities, and a new six-year lease on Unit 1529 runs through May 2032 with 3% annual increases. Rents are below market, giving a buyer upside on renewal. Ideal for a local investor, or an owner-user who wants a storefront with rental income from the remaining units.

Investment Highlights

• Fully occupied - 5 units (3 storefronts + 2 apartments)
• 7.71% cap on in-place NOI
• Below Market Rents
• Value Add Opportunity
• Mixed-use income diversification - retail and residential