Flex Space with
For Sale
$235,000
1459 SE Village Green Drive Unit 12, Port St Lucie, FL 34952
Open showroom with newly finished floors and industrial zoning in an established warehouse district.
Property Size814 SF
Price / SF$288.70
Days on Market230
Property Features for 1459 SE Village Green Drive Unit 12
General Information
Standard status
Active
Size
814 SF
Property subtype
Mixed Use
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1,727
Amenities
Electric
3
Indus
Building Details
Year Built
1984
Listing Agency:
RE/MAX of Stuart
(772) 201-1505
Listed By:
Milton Koster · License #3320083
(772) 201-1505
Source:
Xome
Added: Jan 12
Changed: Aug 29
Last Checked: Apr 24 at 8:00AM
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 RE/MAX of Stuart
Investment Insights
Based on property information with market context.
Unit 12 is an open flex-space showroom with recently finished SunDek flooring and a concrete interior. The property was built in 1984 with CBS construction and is configured for a professional commercial setting that can accommodate warehouse and light industrial operations under Indus zoning.
Situated within the Village Green Drive warehouse district in east Port St. Lucie, the unit provides access to US-1, Crosstown Parkway, and Prima Vista Boulevard. Commerce Center 1 includes small-bay industrial users and ample parking, with a layout and setting suited to contractor, service, light manufacturing, and distribution operations.
Situated within the Village Green Drive warehouse district in east Port St. Lucie, the unit provides access to US-1, Crosstown Parkway, and Prima Vista Boulevard. Commerce Center 1 includes small-bay industrial users and ample parking, with a layout and setting suited to contractor, service, light manufacturing, and distribution operations.
Key Highlights
- Open showroom layout with recently applied SunDek finished floors
- Indus zoning supports warehouse and light industrial operations
- Located in the Village Green Drive warehouse district in east Port St. Lucie
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
$7,893
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
3.36%
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%
$157,860
$157.9K
Cap Rate 7%
$112,757
$112.8K
Cap Rate 9%
$87,700
$87.7K
Market Conditions
NOI Build-Up for 814 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
$13.7K $16.80/SF
− Vacancy
−$1.5K −$1.88/SF
EGI
$12.1K $14.92/SF
− OpEx
−$4.3K −$5.22/SF
NOI
$7.9K $9.70/SF
Area
St. Lucie County, FL
Vacancy
11.20%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
35.00%
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%
$157,860
Cap Rate 7%
$112,757
Cap Rate 9%
$87,700
Alternative Uses
Best Use
Flex RnD
$112.8K
$98.7K – $131.6K
NOI $7,893 @ 7.0% cap · market cap 3.36%
Second Best
Warehouse
$99.5K
$87.1K – $116.1K
NOI $6,968 @ 7.0% cap · market cap 2.97%
Theoretical Best
Office A
$204.7K
$179.1K – $238.8K
NOI $14,330 @ 7.0% cap · market cap 6.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
771
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 34952, FL
42,630
Population
21,844
Households
2
Avg Household Size
53
Median Age
24%
College-Educated
91%
High-School Grad
24.6 sq mi
ZIP Area
1,733
Density / Sq Mi
$60,123
Median Household Income
$37,184
Median Earnings
$1,635
Median Rent
$242,100
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.
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Frequently Asked Questions
What type of property is this?
Flex space - Open showroom with newly finished floors and industrial zoning in an established warehouse district.
Where is this flex space located?
The property is located at 1459 SE Village Green Drive Unit 12 Port St Lucie, FL.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Open showroom layout with recently applied SunDek finished floors; Indus zoning supports warehouse and light industrial operations; Located in the Village Green Drive warehouse district in east Port St. Lucie
