Renovated Industrial
For Sale
$2,895,000
17251733 Biltmore Street, Port St Lucie, FL 34984
Renovated industrial duplex with central air, full occupancy, and flexible parking areas that can accommodate yard use.
Property Size12,000 SF
Price / SF$241.25
Days on Market721
Property Features for 17251733 Biltmore Street
General Information
Standard status
Active
Size
12,000 SF
Property subtype
Industrial
Occupancy
100%
Site & Location
Highway Access
Yes
Outdoor Storage
Yes
Taxes and HOA fees
Annual Taxes
$24,101
Amenities
Central Air
3
Composition, Shingle
20 Parking Spaces.
Building Details
Year Built
1988
Year Renovated
2013
Listing Agency:
Management Specialists LLC
(772) 380-9011
Listed By:
Jeffrey Miller · License #3180664
(772) 380-9011
Source:
Xome
Added: Sep 11, 2024
Changed: Aug 31
Last Checked: Aug 31 at 2:43PM
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 Management Specialists LLC
Investment Insights
Based on property information with market context.
This 12,000-square-foot light industrial duplex was constructed in 1988 and renovated in 2013. The property is fully leased and includes central air, composition shingle roofing, 20 parking spaces, and a permitted well. Its duplex configuration provides separate industrial space within a single investment asset.
Access is supported by proximity to the Florida Turnpike, I-95, US1, and Crosstown Parkway. The parking areas can also serve as yard space, adding operational flexibility for the existing occupancy or future ownership requirements. The permitted well may support specialized manufacturing or other uses, subject to applicable approvals.
Access is supported by proximity to the Florida Turnpike, I-95, US1, and Crosstown Parkway. The parking areas can also serve as yard space, adding operational flexibility for the existing occupancy or future ownership requirements. The permitted well may support specialized manufacturing or other uses, subject to applicable approvals.
Key Highlights
- 12,000‑square‑foot light industrial duplex
- Fully leased property with renovation completed in 2013
- 20 parking spaces with areas that can also function as yard space
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
$84,599
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
2.92%
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%
$1,691,980
$1.7M
Cap Rate 7%
$1,208,557
$1.2M
Cap Rate 9%
$939,989
$940.0K
Market Conditions
NOI Build-Up for 12,000 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
$149.8K $12.48/SF
− Vacancy
−$28.9K −$2.41/SF
EGI
$120.9K $10.07/SF
− OpEx
−$36.3K −$3.02/SF
NOI
$84.6K $7.05/SF
Area
St. Lucie County, FL
Vacancy
19.30%
Lease Rate
$12.48 /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%
$1,691,980
Cap Rate 7%
$1,208,557
Cap Rate 9%
$939,989
Alternative Uses
Best Use
Industrial
$1.21M
$1.06M – $1.41M
NOI $84,599 @ 7.0% cap · market cap 2.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.02M
$2.64M – $3.52M
NOI $211,248 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
649
Businesses Nearby
Explore this area
Business Placement
Demographics for 34984, FL
16,721
Population
7,254
Households
2.3
Avg Household Size
44
Median Age
24%
College-Educated
85%
High-School Grad
9.8 sq mi
ZIP Area
1,706
Density / Sq Mi
$79,766
Median Household Income
$44,685
Median Earnings
$1,888
Median Rent
$324,900
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?
Industrial property - Renovated industrial duplex with central air, full occupancy, and flexible parking areas that can accommodate yard use.
Where is this industrial property located?
The property is located at 17251733 Biltmore Street Port St Lucie, FL.
What is the asking price?
The asking price for this property is $2,895,000.
What are key features of this property?
This property features: 12,000‑square‑foot light industrial duplex; Fully leased property with renovation completed in 2013; 20 parking spaces with areas that can also function as yard space
