15,000 sf fully leased Industrial property
2042 SW Hayworth Avenue, Port Saint Lucie, Florida 34953
Sold: $655,000
Property Details
Property Type
Improved property
Building Type
Freestanding
Building Size
15,000 sqft
Land Size
1.15 acres
Sewer
City
Water
City
Zoning
Industrial
Electric
FPL
Year Built
1990
Roof
Metal
Parking
30
14 Tenants
12 Ft Overhead Doors
Growth Area
Well Kept
Fully Leased
Good Cap Rate
Construction
Metal
4 Blocks To I 95
Tenant waiting list
$7.20 To $9.60 Per Sf
Good Demographics
Property Description
Fully leased 15,000 sf Industrial building. 14 tenants with the oldest there 10 years. 13-1000 sf bays, 1-2000 sf bay. $7.20 psf to $9.60 current rent with owner raising rents for the next new tenant to $8.40 psf to $9.60. Owner just leased space for double bay @$9.60 psf. Insurance will show this at a 7.74% current (not projected) cap rate. DCF cash flow shows this at a 19.18% after tax IRR. City water and sewer. Just 6 blocks to the entrance to Tradition and 4 blocks to I-95. Owner has waiting list of new tenants.