502 Garrison Ave 11,454 SF Specialty Building Offered at $3,213,233 CAD at a 6% Cap Rate in Port Saint Joe, FL 32456

This offering features a single-tenant United States Postal Service facility located at 502 Garrison Avenue in Port St. Joe, Florida. The property delivers stable federal credit, passive management, and clear documentation supporting both current performance and long-term durability.
The lease runs at $140,000 annually through July 2029, producing a 6.00% cap rate on the asking price of $2,333,333. A single renewal option extends the term through 2034 at $150,000 annually, representing a 6.43% yield at the current pricing. All financials are published so investors can underwrite directly without reverse-engineering assumptions.
The structure is near-NNN, with the tenant responsible for taxes, parking lot and common-area maintenance, interior maintenance, HVAC, utilities, and janitorial. Landlord obligations are limited to roof, structure, and insurance. Insurance is placed through the AUSPL program, designed specifically for USPS-leased buildings, at $5,382 per year. The policy is transferable to a buyer for a one-time $100 fee, offering materially lower premiums than typical coastal Florida commercial placements. The roof was replaced in 2019, and documentation is available.
The property sits on 2.60 acres in the downtown core, offering 85 striped parking spaces, C1-A Commercial zoning, and Zone X Shaded flood classification, outside the Special Flood Hazard Area. Few comparable parcels remain in the corridor, and any relocation of the tenant would require a ground-up build-to-suit. A third-party availability study confirms that no alternative building in the market meets USPS requirements for parking, proximity, and zoning simultaneously.
Tenant durability supports the pricing and long-term hold profile. USPS is a federal credit tenant with consistent occupancy patterns in similar markets. The availability study, roof documentation, insurance records, and lease materials are all available upon request.
This asset is well-suited for 1031 exchange buyers, long-term passive investors, and those seeking stable government credit with minimal management. The seller offers flexibility on closing timelines and can accommodate forward or reverse exchange structures, including an exchange accommodation titleholder taking title ahead of a relinquished-property sale.