Renovated Retail Condo with Grease
For Sale
$255,000
1060 Southwest Bayshore Boulevard, Port St Lucie, FL 34983
Impeccably renovated 800 SF retail condo with new AC and grease trap in place.
Property Size800 SF
Price / SF$318.75
Days on Market866
Property Features for 1060 Southwest Bayshore Boulevard
General Information
Standard status
Active
Size
800 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Grease Trap
Yes
Amenities
washer and dryer room
break area
custom cabinetry with crown molding
LED lighting
Building Details
Tenancy
Multi
Listing Agency:
EXP Commercial Orlando
Listed By:
Marcos Peres · License #sl3300312
(407) 913-1199
Source:
Expcommercial
Added: Apr 26, 2024
Changed: Sep 8
Last Checked: Sep 8 at 3:33AM
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 EXP Commercial Orlando
Investment Insights
Based on property information with market context.
This renovated 800 SF retail condo features a new AC unit, metallic epoxy flooring, and an interior buildout designed for customer service and daily operations. Improvements include a washer and dryer room with extra storage, a break area, a reception desk area, custom cabinetry with crown molding, LED lighting, and one bathroom. The unit also includes a grease trap, providing the infrastructure for an owner who wants to explore restaurant conversion. The sale offers the option to include inventory and equipment with the real estate if desired.
Located directly on Bayshore Boulevard in the St Lucie West submarket of Port St. Lucie, the property is described as being a couple miles from Crosstown Pkwy, Turnpike, and I-95. The retail plaza includes other businesses such as Progressive, Boost Mobile, Century 21, and the Italian Market, among others.
Located directly on Bayshore Boulevard in the St Lucie West submarket of Port St. Lucie, the property is described as being a couple miles from Crosstown Pkwy, Turnpike, and I-95. The retail plaza includes other businesses such as Progressive, Boost Mobile, Century 21, and the Italian Market, among others.
Key Highlights
- Impeccably renovated 800 SF retail condo in the St Lucie West submarket of Port St Lucie, FL
- Over $100,000 in upgrades, including a new AC unit
- Metallic epoxy flooring, custom cabinetry with crown molding, and LED lighting
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
3.62%
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 3.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$201.2K
$176.0K – $234.7K
NOI $14,083 @ 7.0% cap · market cap 5.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Grease trap
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
Demographics for 34983, FL
43,654
Population
17,799
Households
2.5
Avg Household Size
42
Median Age
27%
College-Educated
91%
High-School Grad
14.9 sq mi
ZIP Area
2,930
Density / Sq Mi
$72,787
Median Household Income
$40,538
Median Earnings
$1,739
Median Rent
$293,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Impeccably renovated 800 SF retail condo with new AC and grease trap in place.
Where is this retail space located?
The property is located at 1060 Southwest Bayshore Boulevard Port St Lucie, FL.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: Impeccably renovated 800 SF retail condo in the St Lucie West submarket of Port St Lucie, FL; Over $100,000 in upgrades, including a new AC unit; Metallic epoxy flooring, custom cabinetry with crown molding, and LED lighting
