Rare signalized corner at US Highway 1 and 4th Street/6th Avenue with 22,600 VPD exposure on US-1 plus 14,500 VPD on 4th Street. Combined 7,883 SF footprint with immediate cash flow from 415 US-1 (Glass America, 7-year tenant) and lease-up optionality at the recently renovated 425 US-1.
Recommended list price of $247/SF — positioned 3% above the automotive comp floor ($240/SF) and 25% below the recent owner-user service station benchmark ($331/SF). Reflects current income, redevelopment optionality, and a signalized corner premium in a 2.8% vacancy market. Initial listing suggested at $2,255,000 per seller's $2,200,000 target.
At full stabilization, 415 US-1 achieves $23.00/SF NNN ($87,607/yr) vs. current $15.75/SF gross ($60,000/yr), while 425 US-1 executes at $22.00/SF NNN ($89,628/yr). Combined stabilized NOI of $177,235 at a 7.5% cap rate supports a forward value of $2,363,133 — the basis for the Aggressive/Future Value tier at $2,395,000.
| Building SF | 3,809 SF |
| Land Area | 0.20 Acres |
| Year Built | 1985 |
| Occupancy | 100% — Glass America (Automotive) |
| Tenant Since | March 2017 (7+ years) |
| Current Rent | $60,000/year gross ($15.75/SF) |
| Market Rent | $24.00/SF NNN (52% upside) |
| NNN Asking Rent Est. | $21–$26/SF (33–65% increase) |
| Stabilized NOI | $87,607/year at $23.00/SF NNN |
| FAR | 0.44 |
| Building SF | 4,074 SF |
| Land Area | 0.39 Acres |
| Year Built | 1972 (Recently Renovated) |
| Occupancy | Vacant — Immediate lease-up potential |
| Frontage | 82' on US Highway 1 (one curb cut) |
| Parking | 14 spaces (3.44/1,000 SF) |
| Market Rent | $20–$24/SF NNN |
| Income Potential | $81,480–$97,776/year at market NNN |
| Stabilized NOI | $89,628/year at $22.00/SF NNN |
| FAR | 0.24 |
| Metric | Details |
|---|---|
| Total Building Area | 7,883 SF (415: 3,809 SF | 425: 4,074 SF) |
| Total Land Area | 0.59 Acres (25,700 SF) | 415: 0.20 AC | 425: 0.39 AC |
| Zoning | General Retail — Submarket vacancy: 2.8% |
| Traffic Counts | 22,600 VPD (S US Hwy 1) | 14,500 VPD (4th St) | 2,500 VPD (6th Ave) |
| Purchase Date | April 6, 2021 |
| Combined Current Income | $60,000/year gross (415 only; 425 vacant) |
| Combined Stabilized Income Potential | $141,480–$157,776/year (both properties at NNN market) |
| Combined Stabilized NOI (Full) | $177,235/year ($87,607 + $89,628) |
| Redevelopment Potential | 7,000–10,000 SF modern facility (QSR, C-store, automotive) |
The signalized intersection provides protected left-turn access from all directions — eliminating friction typical of high-traffic corridors and making the site accessible to northbound, southbound, and east-west traffic simultaneously.
| Metric | Value |
|---|---|
| Overall Vacancy Rate | 4.3% (vs. 5.7% national avg) |
| General Retail Vacancy | 2.8% — exceptionally tight |
| Market Rent (NNN) | $24.00/SF (peers: $24.43/SF) |
| National Avg Rent | $23.69/SF NNN |
| 5-Year Rent Growth | 3.5% (vs. 2.1% national) |
| 10-Year Rent Growth | 4.5% forecast |
| Net Delivered Space | 9,500 SF (past 5 years) |
| 12-Month Leasing Activity | 138,335 SF across 17 peer properties |
| New Construction Pipeline | Zero through 2026 |
| Property | Bldg SF | Year Built | NNN Rent | Distance | Vacancy |
|---|---|---|---|---|---|
| Mavis Tires & Brakes, 5260 US Highway 1 | 7,000 | 2025 | $24–$30/SF | 5.8 mi | 0% |
| Advance Auto Parts, 2990 9th St SW | 6,831 | 2015 | $26–$31/SF | 2.5 mi | 0% |
| 270 Old Dixie Hwy | 5,050 | 1984 | $24–$30/SF | 0.28 mi | 0% |
| 425 US Highway 1 (Peer Listing) | 4,074 | 1972 | $20–$24/SF | 0.03 mi | 0% |
| 415 US Highway 1 (Subject) | 3,809 | 1985 | $21–$26/SF | Subject | 0% |
| Metric | Current | Market / Stabilized |
|---|---|---|
| Rent Rate | $15.75/SF gross | $21–$26/SF NNN |
| Annual Income | $60,000 | $80,010–$99,034 |
| NOI (Est.) | ~$50,000 | $87,607 at $23.00/SF |
| Upside | — | +52% to market NNN |
| Tenant | Glass America (7+ yrs) | Repositioned to market |
| Implied Value at 7.5% Cap | — | ~$1,168,000 |
| Metric | Current | Stabilized |
|---|---|---|
| Occupancy | Vacant (Lease-Ready) | 100% |
| Rent Rate | — | $20–$24/SF NNN |
| Annual Income | $0 | $81,480–$97,776 |
| NOI (Est.) | $0 | $89,628 at $22.00/SF |
| Target Tenants | — | Automotive, Medical, QSR, Retail |
| Implied Value at 7.5% Cap | — | ~$1,195,000 |
Dual-income stabilization: collect holding income from 415 US-1 ($60K/yr) while executing lease-up at 425 US-1 ($81K–$98K potential). Combined stabilized GPI of $141,480–$157,776/yr with NOI of $177,235 at full occupancy. Caps at $2,363,133 at 7.5% — with 10% signalized corner premium bringing forward value to $2,395,000.
Ground-up development on the 0.59-acre signalized corner, leveraging 22,600 VPD and General Retail zoning to build a modern 7,000–10,000 SF facility optimized for a national QSR, convenience store, or automotive tenant requiring drive-through queuing. Zero competing new supply in the pipeline through 2026 ensures a newly constructed facility would enter a market starved for modern product.
Analysis focuses on 13 comparable sales within Indian River County and the Fort Pierce/Port St. Lucie submarket, representing $29.2 million in transaction value. Cap rates for income-producing properties cluster around 5.5%, reflecting premium pricing and low yields characteristic of supply-constrained coastal Florida markets.
Multi-tenant strip center (AT&T, Mattress Market, Posh Nail Spa). Demonstrates premium pricing for newer construction with diverse tenant mixes at high-traffic locations.
Oceanfront restaurant property — highest $/SF in the comparable set. Confirms investor appetite for small-format coastal retail with superior location premiums.
Class C beachfront asset — highest $/SF in the dataset at $1,006/SF. Validates that location drives outsized pricing premiums in coastal Florida retail markets.
Single-tenant QSR restaurant sold at $448/SF with 5.5% cap rate. Demonstrates strong investor appetite for cash-flowing food-service assets on US Highway 1.
Automotive-oriented property (Mobil, Vero's Heroes!) at $331/SF. Most relevant owner-user benchmark — establishes the upper pricing band for automotive use at the subject.
Older automotive facility — establishes the floor for value-add or owner-user transactions in the submarket. Subject is priced 3% above this floor at the $1,950,000 recommended price.
Assumes full stabilization of both properties at market NNN rents. Combined NOI of $177,235 capitalized at 7.5% cap rate = $2,363,133. Adding 10% signalized corner premium yields $2,395,000.
Balanced strategy reflecting current income, comparable sales, and value-add potential. Positioned 3% above the $240/SF automotive floor and 25% below the $331/SF service station benchmark.
Conservative floor anchored to residual land value plus depreciated building value. Targets opportunistic developers or cash investors seeking below-market entry for ground-up redevelopment.
$2,255,000 — Aligned with Seller's $2,200,000 Target
GoCommercial recommends launching at $2,255,000 to meet the seller's pricing target of $2,200,000 while preserving negotiating room. This positions the listing above the $1,950,000 market-value recommendation — appropriate for testing buyer appetite and capturing upside in a supply-constrained market where qualified buyers are actively seeking signalized corner assets.
Closing costs and prorations are separate and will vary by title company, tax prorations, and transaction structure. All figures are illustrative only.
| Final Sale Price | Commission (8%) | Closing Costs (Est.) | Net Cash to Seller |
|---|---|---|---|
| $1,850,000 | $148,000 | $12,950 | $1,689,050 |
| $1,950,000 ★ Recommended | $156,000 | $13,650 | $1,780,350 |
| $2,050,000 | $164,000 | $14,350 | $1,871,650 |
| $2,150,000 | $172,000 | $15,050 | $1,962,950 |
| $2,255,000 (Suggested Launch) | $180,400 | $15,785 | $2,058,815 |
| $2,350,000 | $188,000 | $16,450 | $2,145,550 |
| $2,395,000 (Tier 1 Forward Value) | $191,600 | $16,765 | $2,186,635 |
| $2,550,000 | $204,000 | $17,850 | $2,328,150 |
GoCommercial covers the full cost of all marketing and deliverables. No upfront fees, retainers, or reimbursements. Commission is earned only upon a successful closing — our incentives are fully aligned with yours.
| Aerial drone videography showcasing signalized corner + 22,600 VPD traffic exposure |
| High-resolution photography highlighting building condition, parking, and street frontage |
| 3D Matterport tours of both 415 and 425 US Highway 1 for remote due diligence |
| Comprehensive 25+ page Offering Memorandum with 52% rental upside narrative |
| Peer property analysis demonstrating $24–$31/SF NNN comps |
| 13 sale comps totaling $29.2M in transaction volume |
| Financial pro formas modeling stabilized NOI and IRR scenarios |
| Premium listings on CoStar (1.2M+ CRE professionals), LoopNet, Crexi |
| Compass Commercial portal (institutional investor network) |
| QSR franchisees (Dunkin', Wendy's, Chipotle) seeking US-1 drive-through sites |
| Automotive groups (Jiffy Lube, Mavis Tires, Midas) expanding in Florida coastal markets |
| Medical developers (urgent care, dialysis, outpatient surgery) targeting affluent retirees |
| 1031 exchange intermediaries representing clients seeking replacement properties |
| Direct prospecting to value-add investors and private capital groups |
Finalize underwriting, schedule drone/photography, gather environmental and zoning records, compile OM and pro forma package.
Live on CoStar, LoopNet, Crexi. "Coming Soon" signage at corner. Direct outreach to target buyer lists activated.
Property tours, buyer inquiries, LOI solicitation. Weekly reporting on inquiries, feedback, and pricing sentiment.
Navigate due diligence, buyer financing, and final closing coordination. We handle the details so you focus on results.
8%
of Final Sale Price
4% retained by GoCommercial · 4% offered to buyer's agent
GoCommercial pays for all marketing and deliverables — no upfront costs to the seller. Commission is performance-based and paid only upon a successful closing. The listing may be terminated at any time with 15 days' written notice.
With supply-constrained market conditions, strong investor demand for signalized corner locations, and robust comparable sales data supporting pricing, now is an ideal time to bring this assemblage to market.
GoCommercial Group at Compass · www.GoCommercial.com