Retail Condo with Road
For Sale
$325,000
1038 SW Bayshore Boulevard, Port St Lucie, FL
Commercial Sale, Port St. Lucie, FL
Property Size800 SF
Price / SF$406.25
Days on Market171
Property Features for 1038 SW Bayshore Boulevard
General Information
Property type
Residential
Property subtype
Retail
Zoning
CG
Parking
58
Lot features
Sidewalks
Subdivision
7270
Standard status
Active
APN
343150000120005
Size
800 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
LTR EXQUISITE SHOPPES UNIT 12 (OR 1266-2145)
Tax Annual Amount
3140
HOA Fee
$1,000 Quarterly
Legal Description
LTR EXQUISITE SHOPPES UNIT 12 (OR 1266-2145)
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Electric
Water source
Public
Building Details
Year built
1998
Floors in Building
1
Flooring type
Tile
Building materials
Concrete Block - With Stucco
Roof type
Flat
Listing Agency:
RE/MAX Gold · RE/MAX International
(772) 607-9600
Listed By:
Eric Reikenis · License #3622571
(561) 339-1344
Added: Mar 19
Changed: Aug 20
Last Checked: Sep 5 at 2:06AM
MLS# B26005730
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.
Investment Insights
Based on property information with market context.
This 800-square-foot retail condo at 1038 SW Bayshore Boulevard offers a compact commercial footprint with concrete-block construction and stucco, tile flooring, central heating, electric cooling, and a flat roof. The property was built in 1998 and carries CG zoning.
Positioned along Bayshore Boulevard in Port St. Lucie, the property records 22,000 average daily trips and is situated in a corridor identified with 0% current retail vacancy. Public water and public sewer serve the property, while cable is available. The building provides a straightforward retail configuration with established building systems and direct exposure to a heavily traveled commercial roadway.
Positioned along Bayshore Boulevard in Port St. Lucie, the property records 22,000 average daily trips and is situated in a corridor identified with 0% current retail vacancy. Public water and public sewer serve the property, while cable is available. The building provides a straightforward retail configuration with established building systems and direct exposure to a heavily traveled commercial roadway.
Key Highlights
- 800 square feet of retail space
- 22,000 average daily trips along Bayshore Boulevard
- CG zoning in Port St. Lucie
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
$9,223
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
2.84%
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%
$184,460
$184.5K
Cap Rate 7%
$131,757
$131.8K
Cap Rate 9%
$102,478
$102.5K
Market Conditions
NOI Build-Up for 800 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
$14.4K $18.00/SF
− Vacancy
−$1.2K −$1.53/SF
EGI
$13.2K $16.47/SF
− OpEx
−$4.0K −$4.94/SF
NOI
$9.2K $11.53/SF
Area
St. Lucie County, FL
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$184,460
Cap Rate 7%
$131,757
Cap Rate 9%
$102,478
Alternative Uses
Best Use
Retail
$131.8K
$115.3K – $153.7K
NOI $9,223 @ 7.0% cap · market cap 2.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$201.2K
$176.0K – $234.7K
NOI $14,083 @ 7.0% cap · market cap 4.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
22,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
469
Businesses Nearby
12k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 79%
Dining 13%
Electronics 8%
Enterprise Rent-A-Car
Shops & Services
5,062 visits/mo
0.4 miles
Chevron
Shops & Services
4,717 visits/mo
0.3 miles
Big Apple Pizza
Dining
1,609 visits/mo
0.5 miles
Metro by T-Mobile
Electronics
975 visits/mo
0.1 miles
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - A concrete-block retail condo with tile flooring, central heating, electric cooling, and public water and sewer.
Where is this retail space located?
The property is located at 1038 SW Bayshore Boulevard Port St Lucie, FL.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 800 square feet of retail space; 22,000 average daily trips along Bayshore Boulevard; CG zoning in Port St. Lucie
