Commercial Kitchen Condo with Walk-In
For Sale
Contact for pricing
1262 SW Biltmore Street, Port St Lucie, FL 34983
Fully built commercial kitchen and office condos in a commercial center, supported by infrastructure for culinary operations and meal prep.
Property Size1,225 SF
Price / SF$220.41
Days on Market56
Property Features for 1262 SW Biltmore Street
General Information
Standard status
Active
Size
1,225 SF
Total Parking Spaces
30
Property subtype
Industrial
Zoning
Industrial
Additional Details
Business Included
Yes
Building Details
Year Built
2006
Buildings
1
Units
3
Listing Agency:
Crady Mackin Belland Commercial Real Estate
(772) 291-8443
Listed By:
Conor Mackin · License #BK3495289
Source:
Crexi
Added: Jun 29
Changed: Aug 14
Last Checked: Aug 22 at 12:25PM
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 Crady Mackin Belland Commercial Real Estate
Investment Insights
Based on property information with market context.
This offering includes (2) fully built-out commercial kitchen condos and (1) office condo, each available for individual sale within the Biltmore Commercial Center. Unit 1258 is a built-out 650 sf second-floor office space configured as three partitioned, fully air-conditioned suites. Unit 1260 includes an approximately 1,800 sf load-bearing mezzanine that can support storage or additional office build-out. Unit 1262 consists primarily of a dedicated office space and is equipped with a large industrial refrigerator.
The properties are located in the Biltmore Commercial Center between SW Biltmore Street and SW S Macedo Blvd. The combination of kitchen infrastructure and office space is designed to support day-to-day food production workflows while maintaining an on-site office presence.
For operators considering catering, meal prep, ghost kitchens, or specialty food manufacturing, these condos provide a practical in-place setup rather than starting from raw space. The build-out includes essential infrastructure suited to commercial culinary use, with flexible office configurations across the three units and additional mezzanine storage options for Unit 1260.
The properties are located in the Biltmore Commercial Center between SW Biltmore Street and SW S Macedo Blvd. The combination of kitchen infrastructure and office space is designed to support day-to-day food production workflows while maintaining an on-site office presence.
For operators considering catering, meal prep, ghost kitchens, or specialty food manufacturing, these condos provide a practical in-place setup rather than starting from raw space. The build-out includes essential infrastructure suited to commercial culinary use, with flexible office configurations across the three units and additional mezzanine storage options for Unit 1260.
Key Highlights
- Condo units offered within Biltmore Commercial Center: (2) built‑out commercial kitchen condos and (1) office condo
- Unit 1258: built‑out 650 SF second‑floor office with three partitioned, fully air‑conditioned suites
- Unit 1260: 1,800 SF load‑bearing mezzanine for storage or potential office build‑out
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
$18,297
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
6.78%
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%
$365,940
$365.9K
Cap Rate 7%
$261,386
$261.4K
Cap Rate 9%
$203,300
$203.3K
Market Conditions
NOI Build-Up for 1,225 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
$26.5K $21.60/SF
− Vacancy
−$2.1K −$1.68/SF
EGI
$24.4K $19.92/SF
− OpEx
−$6.1K −$4.98/SF
NOI
$18.3K $14.94/SF
Area
St. Lucie County, FL
Vacancy
7.80%
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%
$365,940
Cap Rate 7%
$261,386
Cap Rate 9%
$203,300
Alternative Uses
Best Use
Specialty Retail
$261.4K
$228.7K – $305.0K
NOI $18,297 @ 7.0% cap · market cap 6.78%
Second Best
Warehouse
$149.8K
$131.1K – $174.8K
NOI $10,487 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$308.1K
$269.6K – $359.4K
NOI $21,565 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
405
Businesses Nearby
Explore this area
Business Placement
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial kitchen - Fully built commercial kitchen and office condos in a commercial center, supported by infrastructure for culinary operations and meal prep.
Where is this commercial kitchen located?
The property is located at 1262 SW Biltmore Street Port St Lucie, FL.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Condo units offered within Biltmore Commercial Center: (2) built‑out commercial kitchen condos and (1) office condo; Unit 1258: built‑out 650 SF second‑floor office with three partitioned, fully air‑conditioned suites; Unit 1260: 1,800 SF load‑bearing mezzanine for storage or potential office build‑out
