Self-Storage Facility with
For Sale
$2,999,988
924 Barrel Avenue, Fort Pierce, FL 34982
Multi-building property combines storage units, a freestanding office, a caretaker residence, and a separate long-term commercial tenancy.
Property Size32,158 SF
Price / SF$93.29
Days on Market3055
Property Features for 924 Barrel Avenue
General Information
Standard status
Active
Size
32,158 SF
Property subtype
General Commercial
Additional Details
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$28,359
Amenities
security fencing
security cameras
keyless entry system
Central Air, Electric
3
50 Parking Spaces.
Building Details
Year Built
1975
Listing Agency:
Illustrated Properties LLC / S
(772) 419-0402
Listed By:
Stephen Dutcher · License #393825
(772) 419-0402
Source:
Xome
Added: Apr 22, 2018
Changed: Aug 30
Last Checked: Aug 31 at 2:38PM
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 Illustrated Properties LLC / S
Investment Insights
Based on property information with market context.
This self-storage property contains 32,158 square feet across a storage complex and additional freestanding improvements. The site includes both air-conditioned and non-air-conditioned storage areas, along with a separate office featuring a half bath and an extra room. A caretaker’s residence is also located on the property.
Security features include perimeter fencing, surveillance cameras, and keyless entry. A freestanding building positioned on Oleander is occupied by a single commercial tenant with a long operating history. The property was originally constructed in 1975 and expanded over time. It also provides 50 parking spaces and is located on Barrel Avenue in Fort Pierce, just south of Farmers Market Road.
Security features include perimeter fencing, surveillance cameras, and keyless entry. A freestanding building positioned on Oleander is occupied by a single commercial tenant with a long operating history. The property was originally constructed in 1975 and expanded over time. It also provides 50 parking spaces and is located on Barrel Avenue in Fort Pierce, just south of Farmers Market Road.
Key Highlights
- 32,158‑square‑foot self‑storage property with additional freestanding buildings
- Air‑conditioned and non‑air‑conditioned storage areas
- Security fencing, cameras, and keyless entry system
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
$275,294
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
9.18%
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%
$5,505,880
$5.5M
Cap Rate 7%
$3,932,771
$3.9M
Cap Rate 9%
$3,058,822
$3.1M
Market Conditions
NOI Build-Up for 32,158 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
$401.3K $12.48/SF
− Vacancy
−$77.5K −$2.41/SF
EGI
$323.9K $10.07/SF
− OpEx
−$48.6K −$1.51/SF
NOI
$275.3K $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%
$5,505,880
Cap Rate 7%
$3,932,771
Cap Rate 9%
$3,058,822
Alternative Uses
Best Use
Self Storage
$5.15M
$4.50M – $6.01M
NOI $360,350 @ 7.0% cap · market cap 12.01%
Second Best
Warehouse
$3.93M
$3.44M – $4.59M
NOI $275,294 @ 7.0% cap · market cap 9.18%
Theoretical Best
Office A
$8.09M
$7.08M – $9.44M
NOI $566,109 @ 7.0% cap · market cap 18.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
454
Businesses Nearby
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
Market
Vacancy Rate% for Industrial 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?
Self storage facility - Multi-building property combines storage units, a freestanding office, a caretaker residence, and a separate long-term commercial tenancy.
Where is this self storage facility located?
The property is located at 924 Barrel Avenue Fort Pierce, FL.
What is the asking price?
The asking price for this property is $2,999,988.
What are key features of this property?
This property features: 32,158‑square‑foot self‑storage property with additional freestanding buildings; Air‑conditioned and non‑air‑conditioned storage areas; Security fencing, cameras, and keyless entry system
