February 2017

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NAI/Merin Hunter Codman, Inc. is pleased to offer for sale this

4,805 square foot professional office building located at 706 N 7th

Street in Fort Pierce, Florida with an asking price of $439,000

($91.36/SF).

The opportunity is to acquire a freestanding multi-use building

located in the path of progress.

• Vacant and ready for owner/user

• Multi-use professional building with generous zoning

• Currently built out as medical

• Revitalization of nearby marina and parks boosts property appeal

• Prime location just over the bridge from Hutchinson Island

• Multiple entrances

• Ample parking

Price: $439,000 ($91.36/SF)

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• 706 N 7th Street is situated immediately adjacent to Hutchinson Island

providing great access to A1A and a few short minutes to I-95 and the

Florida Turnpike

• Multi-use building and broad C3 zoning allows for a myriad of medical,

office and retail uses

• Ample parking with additional street parking available

Address: 706 N 7th Street

Fort Pierce, FL 34950

Submarket: Fort Pierce / St. Lucie County

Year Built / Renovated: 1951 / 2007

Building Size: 4,805

Land Size: .28 Acres

Parcel ID: 2403-712-0002-000-3

Parking Ratio: 4:1,000

Zoning: C3

Construction: CBS

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• Single story built out medical office building

• Configured as a single unit, but can easily be converted

to a multiple user building

• Can be repurposed for professional office or retail use

• Great location with easy access to A1A, I-95 and the

Florida Turnpike

• Building has a great mix of rooms including:

• Eight exam rooms

• Eight offices

• Two reception areas

• Nursing station

• Closet

• Employee break area

• Five bathrooms (two handicapped accessible)

• The property has a separate utility room for cable,

electrical panels and security system

• Great access to Intracoastal and Atlantic Ocean, just

two blocks from the bridge to Hutchinson Island and

just outside of downtown Fort Pierce

• Priced well below replacement cost

• Upgrades include:

• Tile throughout

• Electric and plumbing upgraded in 2007

• New roof in 2006

• New HVAC in 2010

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-Community Center

-Fraternal Organization/Lodge

-Library or Cultural Exhibit

-Post Office

-Safety Service

-Brew Pub

-Coffee Shop

-Neighborhood Bistro

-Neighborhood Café

-Restaurants, Fast Food

-Restaurant and Bar

-Wine/Cigar Bar

-Adult Establishment

-Bar or Nightclub

-Theater

-Bed and Breakfast

-Hotel/Motel

-Resort Hotel

-Art Gallery

-Farmers Market or Farm Stand

-Grocery or Liquor Store

-Neighborhood Commercial Sale

-Office Supplies and Electronics

-Pet Stores

-Automobile Rentals

-Automobile Sales

-Boat Rentals

-Boat Sales

-Fueling Station

-Travel Plaza

-Truck Stop

-Vehicle Repair, Limited

-Parcel Service

-Antenna (on existing structure)

-Art Studio

-Animal Grooming Services

-Check Cashing/Loan Service

-Educational Service Establishments

-Laundry and Dry Cleaners Pick-Up

-Laundromat

-Mortuaries or Funeral Homes

-Neighborhood Commercial Services

-Pawn Shop

-Personal Improvement Service

-Veterinary (Without Outdoor Runs)

E

-Stables or Equestrian Facilities

-Boat and Marine Equipment Sales

-Day Labor Employment Agency

-Medical and Dental Clinic

-Television and Radio Studios

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According to historians, it is believed that the name "St. Lucie" was first given to this area

by the Spanish. The name was given after the Spanish began construction of a fort on

December 13 - the feast day of the Roman Catholic Saint Lucia.

The "Santa Lucia" colony was established somewhere between Vero Beach and Stuart

around 1567, as old Spanish maps identify this area as Santa Lucia, which included

roughly what is now known as Vero Beach to Stuart. The Spanish held Florida from 1783

to 1819. Seminoles (Creek Indians from Alabama and Georgia) and runaway slaves

began to settle on the Treasure Coast. The Anglo-Saxon version, "St. Lucie," would not

be officially used to identify the area until the 1900s.

St. Lucie County has a total area of 688 square miles and is bordered by Indian River

County (north), Martin County (south), and Okeechobee County (west).

St. Lucie County manages more than 75 different parks, preserves and

attractions that highlight everything from athletic activities to passive recreation like disc

golf and horseback riding.

The county has deep roots in environmental education and offers a variety

of environmental education centers that feature hands-on exhibits, guided hikes, lectures

and more.

Whether you like to enjoy a round of golf or relax to the sounds of

national touring theater productions, private galleries or live music, festivals or farmers

markets, there is plenty to do in St. Lucie County.

Sources: Saint Lucie County (StLucieCo.gov); Esri Business Analyst

Population 295,387

Avg. HH Income $61,067

Households 113,659

Total Businesses 10,968

Total Employees 95,689

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Population 44,137

Avg. HH Income $44,621

Households 22,489

Total Businesses 2,703

Total Employees 29,925

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. Incorporated in 1901, the city grew from 300

pioneers to approximately 41,000 residents today and encompasses approximately 29

square miles.

Fort Pierce is a diverse yet neighborly community, embracing

both the richness of its heritage and the promise of the future in St. Lucie County.

Downtown has retained its old Florida charm and scale, as it has welcomed new

development and revitalization. The historic waterfront downtown affords residents

contemporary shopping, dining, great fishing and a range of entertainment and activities

from the Farmers Market, Bike Night, Friday Fest, Jazz Market and the city owned and

operated historic, 1,200 seat Sunrise Theatre for the Performing Arts.

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.

Sources: City of Fort Pierce (CityOfFortPierce.com), Esri Business Analyst

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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 and Main Street Fort

Pierce, Inc. received the Great American Main Street Award from the National Trust for Historic

Preservation in downtown.

In 2015, Fort Pierce was named one of USA Today's

Most Idyllic and Historic Main Streets in America. USA Today applauded Fort Pierce’s downtown in

its Aug. 11, 2014, edition in an article headlined, “Idyllic and historic main streets across the USA.”

Here is the entry that appeared in the newspaper: Fort Pierce, a Treasure Coast “Old Florida” town,

cooled by breezes off the Indian River, won the 2011 Best Main Street designation from the National

Trust. Swaying palm trees line the sidewalks, and the atmosphere evokes the early 1900’s when the

city came into its own. Period Spanish architecture punctuates the downtown area, the star of which

is the historic Sunrise Theatre. The Saturday Farmer’s Market is a must.

Also in 2015, Fort Pierce’s downtown Main

Street was named No. 1 on a consumer-advocacy group’s list of “50 Best Small Town Main Streets”

in America. The honor was given by Top Value Reviews, which ranked Fort Pierce top among cities

with a population of 60,000. Fort Pierce was one of only two Florida cities named on the list and it

beat out notable quaint small towns such as Nantucket, Mass., and Steamboat Springs, Colo. “It

was a surprise to us and what an honor to be chosen over 2,000 other Main Street programs across

the country,” says Doris Tillman, who has been executive director of Main Street Fort Pierce Inc. for

the past 24 years. “It is not about the people who run Main Street. It is about all the people who have

so much belief in bettering ourselves. It is the community and the city and the people always ready to

support and help you.”

Sources: City of Fort Pierce (CityOfFortPierce.com), MainStreetPortPierce.org

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Sources: TheHighwaymenTrail.com

The Highwaymen, also referred to as the Florida Highwaymen, are 26

storied, world-renown African American landscape artists who originated in the City of

Fort Pierce. The Highwaymen Heritage Trail is a self-guided engaging and educational

experience that recognizes these mostly self-taught landscape artists who have

strong local, state, national and international significance.

James Gibson is one of the most

active Highwayman painters and perhaps the

most successful. He has consistently made a

living selling landscapes and has received

numerous awards for his excellent paintings.

Always a snappy dresser, he claims the key

to his success is to “respect people, don’t

give up, and put God first. Everything else,”

he says, “will fall into place.”

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Comparable #1 Comparable #2 Comparable #3 Comparable #4

Photo:

Address: 117 N 5th Street

Fort Pierce, FL 34950

601 N 7th Street

Fort Pierce, FL 34950

108 N Depot Drive

Fort Pierce, FL 34950

515 S Indian River Drive

Fort Pierce, FL 34950

Building Size: 5,506 SF 2,380 SF 5,628 SF 5,855 SF

Year Built: 1953 1958 1946 1900

Sales Price: $635,000 $225,000 $584,000 $958,000

Price per SF: $115.33 $94,54 $103.77 $163.62

Cap Rate: 10.0% - - -

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Comparable #1 Comparable #2 Comparable #3

Photo:

Address: 1115 Delaware Avenue

Fort Pierce, FL 34950

1217 Delaware Road

Fort Pierce, FL 34950

515 S Indian River Drive

Fort Pierce, FL 34950

Building Size: 1,548 SF 1,329 SF 5,855 SF

Year Built: 1925 1923 1900

Transaction Date: 9/27/16 10/31/16 Under Contract

Sales Price: $143,000 $105,000 $958,000

Price per SF: $92.38 $79.01 $163.62