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    Port St. Lucie Warehouse Condo Title is generated by Realmo AI

    581 NW Mercantile Place, Port St Lucie, FL 34986

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    Pending
    $375,000

    COMMERCIAL - Port St. Lucie, FL

    Property size:
    1,500 SF
    Lot size:
    0.01 Acres
    Added:
    Feb 21, 2026
    Days on Market:
    101
    Last Refresh:
    Jun 2 at 4:06 am

    Property Features for 581 NW Mercantile Place

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Industrial Flex
    Bathrooms
    1
    Rooms
    Bathroom 1
    Standard status
    Pending
    APN
    332368000171509
    Size
    1,500 SF
    Lot size
    0.01 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    ST LUCIE WEST PLAT #166 ST LUCIE WEST INDUSTRIAL PARK PHASE II (PB 43-3) UNIT D-6 WEST PARK INDUSTRIAL CENTER (OR 2607-6
    Tax Annual Amount
    7095

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Electric (Heating)
    Cooling system
    Electric
    Water source
    Public

    Building Details

    Year built
    2006
    Floors in Building
    2
    Number of units
    1
    Flooring type
    Concrete
    Building materials
    CBS
    Roof type
    Tar/Gravel

    We can help!

    Listing Contact
    Todd Peters
    Todd Peters

    Listing agent Todd Peters License #3418842

    Listing office Weichert Realtors-Sunshine Properties 101 SW Monterey Rd, Stuart, FL

    Listing date Feb 21, 2026

    MLS# R11166557

    Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Quick access to I‑95 in St. Lucie West, ideal for distribution and logistics.
    • 1,750 SF warehouse condo with 150 SF of air‑conditioned office space.
    • 23‑foot clear height in the warehouse bay, maximizing storage capacity.
    • 250 SF concrete mezzanine level provides additional workspace or storage.
    • Located in West Park Industrial Center.
    • Rear walkthrough door for convenient access.

    Overview

    Located in West Park Industrial Center, this 1,750 SF warehouse condo includes a loft and offers an efficient layout suitable for various business applications. The property features 150 SF of air-conditioned office space, which includes a reception area and a private restroom. The warehouse bay provides a 23-foot clear height, suitable for storage or operational activities. An additional 250 SF concrete mezzanine level offers extra workspace or storage capacity. A rear walkthrough door adds convenience. Situated in St. Lucie West, the property provides quick access to I-95, offering convenience for distribution, service, or light industrial purposes.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $32.4k $21.60
    − Vacancy −$7.1k −$4.75
    EGI $25.3k $16.85
    − OpEx −$6.3k −$4.21
    NOI $19.0k $12.64
    1,500 SF · lease $21.60/SF/yr · vacancy 22.00% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $270.8K
    $236.9K – $315.9K (±1% cap)
    NOI $18,954 @ 7.0% cap · market cap 5.05%
    Second Best
    Flex RnD
    $207.8K
    $181.8K – $242.4K (±1% cap)
    NOI $14,545 @ 7.0% cap · market cap 3.88%
    Theoretical Best
    Office A
    $377.2K
    $330.1K – $440.1K (±1% cap)
    NOI $26,406 @ 7.0% cap · market cap 7.04%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Amber Refrigeration Heating ... Hardware & Home Improvement Carib Teak, Inc. ... Building Supply

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Building Supply Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Port St Lucie
    County
    St. Lucie
    State
    Florida
    Longitude
    -80.412253
    Latitude
    27.332523

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    FAQs

    What type of property is this?
    Flex space - 1,750 SF warehouse condo with office space and mezzanine.
    Where is this flex space located?
    The property is located at 581 NW Mercantile Place Port St Lucie, FL.
    What is the asking price?
    The asking price for this property is $375,000.
    What are key features of this property?
    This property features: Quick access to I‑95 in St. Lucie West, ideal for distribution and logistics.; 1,750 SF warehouse condo with **150 SF of air‑conditioned office space.**; **23‑foot clear height** in the warehouse bay, maximizing storage capacity.
    (772) 631-0497
    We can help!
    Listing Contact
    Todd Peters
    Todd Peters
    Real Estate License ID: 3418842
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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