120 E Avenue A Backus Avenue

Description:

Rare investor opportunity in downtown Fort Pierce. Directly across from King's Landing ($100M+ mixed-use project), the planned Marriott, and marina expansion, this property is entitled for 3 STR units with potential to expand to 6 units (+/-1,000 SF each).Investor Highlights: Projected STR gross revenue: $225K$350K annually. Potential stabilized cap rate: 78%. CRA zone with incentives, grants, and streamlined approvals. Excellent walk score to dining, entertainment, and waterfront amenities. Across from major redevelopment, appreciating property values and overall CBD gentrification. Seller financing may be considered for qualified buyers, creating a competitive advantage in today's high-interest-rate environment and enhance acquisition feasibility/ ... (see supplement for full remarks) Rare investor opportunity in downtown Fort Pierce. Directly across from King's Landing ($100M+ mixed-use project), the planned Marriott, and marina expansion, this property is entitled for 3 STR units with potential to expand to 6 units (+/-1,000 SF each).Investor Highlights: Projected STR gross revenue: $225K$350K annually. Potential stabilized cap rate: 78%. CRA zone with incentives, grants, and streamlined approvals. Excellent walk score to dining, entertainment, and waterfront amenities. Across from major redevelopment, appreciating property values and overall CBD gentrification. Seller financing may be considered for qualified buyers, creating a competitive advantage in today's high-interest-rate environment and enhance acquisition feasibility/ project structuring. Highest bid pricing