Address: 7075 Indrio Road, Fort Pierce, Florida, United States 34951
Type: Auto Parts Retailer
Cap Rate: 5.50%
Lease Type: Triple Net (NNN)
Annual Rent: $77,646
Net Operating Income: $77,646
Lease Term Remaining: 13.5 Years
Rental Increases: 10% on 8/31/2028
Options: Four (4), Five (5)-Year
Rentable Sq/Ft: 6,712 SF
Rent Sq/Ft: $11.57
Price Sq/Ft: $210
Lot Size: +/- 0.98 Acres
Marcus & Millichap is please to present the exclusive listing for the Advance Auto Parts located at 7075 Indrio Rd in Fort Pierce, FL. The property consists of a 6,712 square-foot building sitting atop a 0.98-acre lot. There are currently 13.5 years remaining on the base term of the absolute triple net (NNN) lease, which is guaranteed by Advance Stores Company, Inc., a wholly owned subsidiary of Advance Auto Parts, Inc. Currently, the annual rent for the property is $77,646, which is scheduled to increase by 10% on 8/31/2028. The tenant has four (4), five (5)-year options to extend lease, each of which comes with a 10% rental increase.
The subject investment property is situated along Indrio Road, which boasts an average daily traffic count of 13,000 vehicles. Indrio Road intersects with Turnpike Feeder Road, which brings an additional 15,000 vehicles into the immediate area on average daily. There are 16,000 individuals residing within a three-mile radius of the property and more than 46,600 individuals within a five-mile radius.
The subject property benefits from being well-positioned in a retail corridor consisting of national and local tenants, shopping centers, golf courses, and transportation hubs all within close proximity of this property. Major national tenants include: Winn-Dixie, McDonald’s, Bealls Outlet, CVS Pharmacy, PNC Bank, Dollar Tree, Dollar General, and more. This investment property benefits from being just five-miles from Treasure Coast International Airport. Treasure Coast International Airport and Business Park (formerly St. Lucie County International Airport), which covers 3,660 acres, is owned and operated by the St. Lucie County Board of County Commissioners. The mission of the Airport is to operate the St. Lucie County International Airport in a safe, efficient, and environmentally sensitive manner, while serving the airport tenants and the general aviation community, and the air transportation needs of the County. Additionally, this property is within a six-mile radius of numerous luxury golf and tennis facilities. These facilities include: Island Pines Golf Club, Fairwinds Gold Course, and Meadowood Golf and Tennis club.
Fort Pierce, often called the Sunrise City, has been the hub of St. Lucie County, Florida for over 100 years. Situated on the “Treasure Coast,” named after the famed sinking of a Spanish treasure fleet in 1715, Fort Pierce is one of the oldest communities on the east coast of Florida. Fort Pierce is home to educational and research facilities, like the top-ranked Indian River State College, Smithsonian Marine Station, Manatee Observation and Education Center and Harbor Branch Oceanographic Institution at Florida Atlantic University. Fort Pierce was awarded the 2005 City of Excellence Award by the Florida League of Cities for overall excellence in city government and in 2011. In 2015, Fort Pierce was named one of USA Today’s Most Idyllic and Historic Main Streets in America. Fort Pierce offers contemporary shopping, dining, great fishing and a range of entertainment and activities such as the Farmers’ Market, Bike Night, Friday Fest and Jazz Market.
BROKER OF RECORD: Ryan Nee # BK3154667