Warehouse with Office in Fort
For Sale
$230,000
3781 Oleander Ave, Fort Pierce, FL 34982
1,035 SF warehouse with office space for sale.
Property Size1,533 SF
Price / SF$150.03
Days on Market143
Property Features for 3781 Oleander Ave
General Information
Standard status
Active
Size
1,533 SF
Building Details
Year Built
2006
Listing Agency:
Partnership Realty Inc.
Listed By:
Ellecia Hutchinson · License #3339422
(561) 618-2221
Source:
Thepennteam
Added: Apr 24
Changed: Sep 4
Last Checked: Sep 13 at 1:30PM
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 Partnership Realty Inc.
Investment Insights
Based on property information with market context.
This 1,035 SF warehouse in Fort Pierce features an open bay and an air-conditioned office. The property is located at 3781 Oleander Ave, providing access to major highways. This location may be suitable for operations and logistics. The property could be used as a small business location, workshop, or for storage. The area has a bike score of 52, indicating it is bikeable, and a walk score of 36, indicating car-dependence.
Key Highlights
- 1,035 SF warehouse with spacious open bay
- Includes an air‑conditioned office space
- Located at 3781 Oleander Ave in Fort Pierce
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
$13,123
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
5.71%
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%
$262,460
$262.5K
Cap Rate 7%
$187,471
$187.5K
Cap Rate 9%
$145,811
$145.8K
Market Conditions
NOI Build-Up for 1,533 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
$19.1K $12.48/SF
− Vacancy
−$3.7K −$2.41/SF
EGI
$15.4K $10.07/SF
− OpEx
−$2.3K −$1.51/SF
NOI
$13.1K $8.56/SF
Area
St. Lucie County, FL
Vacancy
19.30%
Lease Rate
$12.48 /SF/Yr
Expense Ratio
15.00%
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%
$262,460
Cap Rate 7%
$187,471
Cap Rate 9%
$145,811
Alternative Uses
Best Use
Warehouse
$187.5K
$164.0K – $218.7K
NOI $13,123 @ 7.0% cap · market cap 5.71%
Second Best
Industrial
$154.4K
$135.1K – $180.1K
NOI $10,808 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$385.5K
$337.3K – $449.8K
NOI $26,987 @ 7.0% cap · market cap 11.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
431
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34982, FL
27,067
Population
12,356
Households
2.2
Avg Household Size
43
Median Age
15%
College-Educated
84%
High-School Grad
15.5 sq mi
ZIP Area
1,746
Density / Sq Mi
$54,025
Median Household Income
$33,661
Median Earnings
$1,254
Median Rent
$228,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Warehouse - 1,035 SF warehouse with office space for sale.
Where is this warehouse located?
The property is located at 3781 Oleander Ave Fort Pierce, FL.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: 1,035 SF warehouse with spacious open bay; Includes an air‑conditioned office space; Located at 3781 Oleander Ave in Fort Pierce
