Freestanding Medical Office
New
For Sale
$2,250,000
1505 Orange Avenue, Fort Pierce, FL
Commercial Sale, Fort Pierce, FL
Property Size11,534 SF
Lot Size1.86 Acres
Price / SF$195.08
Days on Market2
Property Features for 1505 Orange Avenue
General Information
Property type
Residential
Property subtype
Office
Zoning
Medium Den
Parking
48
Security features
Security Lighting
Lot features
Corner Lot, Irregular Lot, Many Trees
Directions
I95 to Orange Ave, East 3.3 miles to the property on the Right
Subdivision
7080
Standard status
Active
APN
240981600010003
Size
11,534 SF
Lot size
1.86 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
W W CARLTON`S S/D BLK 1 ALL LOTS 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11 AND LOT 12-LESS W 5 FT OF LOT 12 - AND LESS ST R/W (1.861 AC) (OR 348-274
Tax Annual Amount
1139
Legal Description
W W CARLTON`S S/D BLK 1 ALL LOTS 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11 AND LOT 12-LESS W 5 FT OF LOT 12 - AND LESS ST R/W (1.861 AC) (OR 348-274
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central, Zoned
Cooling system
Central Air, Ceiling Fan(s), Electric, Zoned
Water source
Public
Amenities
large multi-purpose room
food prep kitchen
several bathrooms
wooded area with sidewalks throughout 'The Wandering Garden'
large screened lanai
covered lobby entrance
Building Details
Year built
1953
Floors in Building
1
Flooring type
Carpet, Tile - Ceramic, Vinyl, Tile
Building materials
Concrete Block - With Stucco, Stucco
Roof type
Wood, Shingle, Flat
Listing Agency:
Equity Florida Treasure Coast LLC
(772) 276-7081
Listed By:
Trajje Etienne · License #3519925
(305) 951-9986
Added: Sep 20
Changed: Sep 21
Last Checked: Sep 21 at 5:06AM
MLS# B26078515
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This freestanding medical office facility contains 11,534 square feet on a 1.86-acre parcel. The building offers a single-unit configuration with multiple flexible rooms, a large multipurpose room, food preparation kitchen, and several bathrooms. Interior finishes include carpet, ceramic tile, vinyl, and tile flooring, with central and zoned heating and cooling. Construction features concrete block with stucco, while the roof includes wood, shingle, and flat sections.
Outdoor improvements include a screened lanai, covered lobby entrance, sidewalks, and a wooded garden area identified as “The Wandering Garden.” The property also includes additional land that may accommodate future building additions or expansion of the parking area. Public water and public sewer serve the facility. Built in 1953, the property has been updated during ownership and is zoned Medium Den.
Outdoor improvements include a screened lanai, covered lobby entrance, sidewalks, and a wooded garden area identified as “The Wandering Garden.” The property also includes additional land that may accommodate future building additions or expansion of the parking area. Public water and public sewer serve the facility. Built in 1953, the property has been updated during ownership and is zoned Medium Den.
Key Highlights
- 11,534‑square‑foot freestanding medical office facility
- 1.86‑acre parcel with additional land for building additions or parking expansion
- Flexible interior layout with multiple rooms and a large multipurpose area
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
$156,083
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
6.94%
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%
$3,121,660
$3.1M
Cap Rate 7%
$2,229,757
$2.2M
Cap Rate 9%
$1,734,256
$1.7M
Market Conditions
NOI Build-Up for 11,534 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
$290.7K $25.20/SF
− Vacancy
−$30.5K −$2.65/SF
EGI
$260.1K $22.55/SF
− OpEx
−$104.1K −$9.02/SF
NOI
$156.1K $13.53/SF
Area
St. Lucie County, FL
Vacancy
10.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
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%
$3,121,660
Cap Rate 7%
$2,229,757
Cap Rate 9%
$1,734,256
Alternative Uses
Best Use
Healthcare Medical
$2.23M
$1.95M – $2.60M
NOI $156,083 @ 7.0% cap · market cap 6.94%
Second Best
Office B
$2.08M
$1.82M – $2.43M
NOI $145,744 @ 7.0% cap · market cap 6.48%
Theoretical Best
Office A
$2.90M
$2.54M – $3.38M
NOI $203,045 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
755
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Similar Off Market Nearby
- Animal Clinic of Fort Pierce: Cathy Scott, DVM — 2508 okeechobee rd, fort pierce, fl 34947
- Holy Family Vet — 709 N US Hwy 1, Fort Pierce, FL 34950
Frequently Asked Questions
What type of property is this?
Medical Office Space - Updated medical office with flexible rooms, a multipurpose area, food preparation kitchen, screened lanai, and covered entry.
Where is this medical office space located?
The property is located at 1505 Orange Avenue Fort Pierce, FL.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: 11,534‑square‑foot freestanding medical office facility; 1.86‑acre parcel with additional land for building additions or parking expansion; Flexible interior layout with multiple rooms and a large multipurpose area
