Air-Conditioned Flex
For Sale
$2,200,000
10031013 Holbrook Court, Port St Lucie, FL 34952
Two-level facility with roll-up access, independent metering, and a layout that can be divided into multiple spaces.
Property Size12,120 SF
Price / SF$176
Days on Market22
Property Features for 10031013 Holbrook Court
General Information
Standard status
Active
Size
12,120 SF
Total Parking Spaces
21
Property subtype
General Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Warehouse Space
11,265 SF
Office Build-Out
855 SF
Conditioned Warehouse
Yes
Taxes and HOA fees
Annual Taxes
$23,400
Amenities
Fully Air conditioned
18+foot ceilings
six 14-foot roll-up doors
fenced area
3
21 Parking Spaces.
Building Details
Year Built
1987
Year Renovated
2022
Buildings
1
Stories
2
Building Size
12,120 SF
Listing Agency:
RE/MAX Direct
(754) 368-0783
Listed By:
Carlos Caicedo · License #B26055759
(754) 368-0783
Source:
Xome
Added: Jul 26
Changed: Aug 15
Last Checked: Aug 16 at 3:27AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Direct
Investment Insights
Based on property information with market context.
This two-level flex property at 10031 SE Holbrook Court includes warehouse and office areas within a fully air-conditioned building. The facility features 18+ foot ceilings and six 14-foot roll-up doors. Originally configured as six industrial condominiums, the spaces are independently metered and each has its own AC system, supporting separation into multiple areas. The property is currently used as a gym and will be delivered vacant.
Located within Warehouse Plaza Commercial Center, the building sits in a cul-de-sac with access via SE Village Green Drive and connections to US-1 and Crosstown Parkway. Parking includes 21 assigned spaces along with shared parking, and the site also has a fenced area. The roof, exterior paint, and parking lot were updated in 2022. Built in 1987, the property provides a flexible commercial configuration for a range of space-planning needs.
Located within Warehouse Plaza Commercial Center, the building sits in a cul-de-sac with access via SE Village Green Drive and connections to US-1 and Crosstown Parkway. Parking includes 21 assigned spaces along with shared parking, and the site also has a fenced area. The roof, exterior paint, and parking lot were updated in 2022. Built in 1987, the property provides a flexible commercial configuration for a range of space-planning needs.
Key Highlights
- 18+ foot ceilings and six 14‑foot roll‑up doors
- Fully air‑conditioned building with independently metered spaces
- Originally configured as six industrial condominiums
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$157,950
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.18%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,159,000
$3.2M
Cap Rate 7%
$2,256,429
$2.3M
Cap Rate 9%
$1,755,000
$1.8M
Market Conditions
NOI Build-Up for 12,500 SF
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.
Gross rent
$270.0K $21.60/SF
− Vacancy
−$59.4K −$4.75/SF
EGI
$210.6K $16.85/SF
− OpEx
−$52.7K −$4.21/SF
NOI
$158.0K $12.64/SF
Area
St. Lucie County, FL
Vacancy
22.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,159,000
Cap Rate 7%
$2,256,429
Cap Rate 9%
$1,755,000
Alternative Uses
Best Use
Office B
$2.26M
$1.97M – $2.63M
NOI $157,950 @ 7.0% cap · market cap 7.18%
Second Best
Flex RnD
$1.73M
$1.52M – $2.02M
NOI $121,212 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$3.14M
$2.75M – $3.67M
NOI $220,050 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
803
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 34952, FL
42,630
Population
21,844
Households
2
Avg Household Size
53
Median Age
24%
College-Educated
91%
High-School Grad
24.6 sq mi
ZIP Area
1,733
Density / Sq Mi
$60,123
Median Household Income
$37,184
Median Earnings
$1,635
Median Rent
$242,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Two-level facility with roll-up access, independent metering, and a layout that can be divided into multiple spaces.
Where is this flex space located?
The property is located at 10031013 Holbrook Court Port St Lucie, FL.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 18+ foot ceilings and six 14‑foot roll‑up doors; Fully air‑conditioned building with independently metered spaces; Originally configured as six industrial condominiums
