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Detail

Updated on February 5, 2019 at 4:19 pm

  • Property ID: RF-4894
  • Price: $7,490,593.00
  • Property Size: 5.04 Acres/Sq.Ft.
  • Year Built: 2018
  • Property Type: Retail, Shopping Center, Strip Center
  • Property Status: For Sale
  • Construction Type:: Masonry
  • Building Class:: B
  • Parking:: Yes
  • Parking Spaces:: 20-40
  • Reserved Parking:: Yes
  • Zoning:: B-2 Business General
  • Square Feet:: 16515

Description

Baron Shoppes Strip Center

  • Excellent purchase opportunity to acquire the fee simple interest (land and building ownership) in Baron Shoppes, a multi-tenant retail center located in Stuart, Florida newly constructed in May-2018.
  • The property consists of a 7-suite inline shops building featuring Moe’s Southwest Grille, Firehouse Subs, Great Clips, Jupiter Medical, and more.
  • The subject property is ideally located along SE. Federal Highway with 46,900 cars per day, and features two prominent monument signs which provide great visibility.

Jeremiah Baron & Co. is pleased to offer the opportunity to acquire the fee simple interest (land and
building ownership) in Baron Shoppes, a multi-tenant retail center located in Stuart, Florida newly
constructed in May-2018. The property consists of a 7-suite inline shops building featuring Moe’s
Southwest Grille, Firehouse Subs, Great Clips, Jupiter Medical, and more. This e-commerce resistant
tenant lineup includes restaurant, daily needs, car-wash, and medical uses, promoting crossover
shopping and excellent tenant synergy. The shopping center is currently split into three separate tax
parcels, offering new ownership the flexibility to sell off the Eyeglass World parcel separately, as a
single tenant offering. Furthermore, the Metro Diner and Paradise Car Wash buildings, currently on same
tax parcel as multi tenant inline shop building, could be re-platted and sold off individually, offering
potential upside and cap rate arbitrage to new ownership. Ideal small shop spaces allowed for ease of
lease up. The durable rent roll is composed of no more than 16% of square footage to any particular
tenant use. 94% of tenant leases feature rare annual rental increases, creating annual blended NOI
growth of 2% and hedging against inflation.
The subject property is ideally located along SE. Federal Highway with 46,900 cars per day, and features
two prominent monument signs which provide great visibility. The site is adjacent to Regency Square
Shopping Center, which features Stein Mart and Regency 8 Cinema.
The City of Stuart sits along Florida’s Treasure Coast as part of the Port St. Lucie MSA. The area features
an economy driven by the retail service, hospitality, construction and government sectors. Stuart
provides quick access to nearby metropolitan centers Fort Pierce and West Palm Beach via Highway 1.
The 5-mile trade is supported by a population of exceeding 100,000 with more than 58,000 employees,
and an affluent average household income of $86,000. The city of Stuart is served by the West Palm
Beach Airport, 40 miles away, Fort Lauderdale Airport 86 miles away, and the public use Latham Field
Airport located across the street from the site. The site is 27 miles from Tailwinds Private Airport, which
serves the affluent Jupiter Island communities, home to some of the worlds famous professional golfers
including Tiger Woods, Justin Thomas, Dustin Johnson, Rickie Fowler, and more.

Property Documents

  • Address: 2620-2644 SE Federal Highway
  • City: Stuart
  • State/county: Florida
  • Zip/Postal Code: 34994
  • Country: United States

WalkScore

walkscore59 / Somewhat Walkable more details here

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Contact info

Jeremiah Baron
Jeremiah Baron
772-286-5744(772) 528-0506
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