Freestanding Service Building in
For Sale
Contact for pricing
1601-1607 SE Village Green Dr, Port Saint Lucie, FL
Freestanding service building occupied by two auto-related tenants.
Property Size11,500 SF
Lot Size1.10 Acres
Price / SF$217.39
Days on Market924
Property Features for 1601-1607 SE Village Green Dr
General Information
Standard status
Active
Size
11,500 SF
Lot size
1.10 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Jeremiah Baron & Co.
(772) 260-1655
Listed By:
Mathew Crady · License #3319900
Source:
Moodyscre
Added: Jan 25, 2024
Changed: Jul 10
Last Checked: Jul 21 at 6:49AM
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 Jeremiah Baron & Co.
Investment Insights
Based on property information with market context.
This freestanding service building is located in an industrial region of Port St. Lucie, Florida. The building is fully occupied by two tenants that provide auto-related services, each with $16.00/sf NNN leases in place. The property features multiple roll-up doors and parking that wraps around the front and west side of the building, with additional parking towards the back. The site is located between Fort Pierce and Jensen Beach and has quick accessibility to US-1 and the Crosstown Parkway extension, which is less than 10 miles away from the I-95 access ramp and Florida’s Turnpike. The property size is 11,500 square feet.
Key Highlights
- Fully occupied by two tenants with $16.00/sf NNN leases in place, providing immediate income.
- Excellent location in an industrial region of Port St. Lucie, Florida.
- Quick accessibility to US‑1 and the Crosstown Parkway extension.
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
$132,584
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
5.30%
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%
$2,651,680
$2.7M
Cap Rate 7%
$1,894,057
$1.9M
Cap Rate 9%
$1,473,156
$1.5M
Market Conditions
NOI Build-Up for 11,500 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
$207.0K $18.00/SF
− Vacancy
−$17.6K −$1.53/SF
EGI
$189.4K $16.47/SF
− OpEx
−$56.8K −$4.94/SF
NOI
$132.6K $11.53/SF
Area
St. Lucie County, FL
Vacancy
8.50%
Lease Rate
$18.00 /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%
$2,651,680
Cap Rate 7%
$1,894,057
Cap Rate 9%
$1,473,156
Alternative Uses
Best Use
Retail
$1.89M
$1.66M – $2.21M
NOI $132,584 @ 7.0% cap · market cap 5.30%
Second Best
Industrial
$1.16M
$1.01M – $1.35M
NOI $81,074 @ 7.0% cap · market cap 3.24%
Theoretical Best
Office A
$2.89M
$2.53M – $3.37M
NOI $202,446 @ 7.0% cap · market cap 8.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
768
Businesses Nearby
152k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 39%
Shops & Services 31%
Groceries 25%
Apparel 4%
Publix
Groceries
37,248 visits/mo
0.4 miles
7-Eleven
Shops & Services
19,933 visits/mo
0.2 miles
Taco Bell
Dining
16,699 visits/mo
0.3 miles
Burger King
Dining
12,864 visits/mo
0.3 miles
Dunkin' Donuts
Dining
11,301 visits/mo
0.2 miles
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Beauty Cars Body Shop — 1542 SE South Niemeyer Cir, Port St. Lucie, FL 34952
- Tropic Diesel Performance — 1774 SE South Niemeyer Cir, Port St. Lucie, FL 34952
- Tires Plus — 9526 S U.S. Hwy 1, Port St. Lucie, FL 34952
- G&G instant auto — 1320 SE Buckingham Terrace, Port St. Lucie, FL 34952
- Hades Motorsports — 1774 SE South Niemeyer Cir, Port St. Lucie, FL 34952
Frequently Asked Questions
What type of property is this?
Auto shop - Freestanding service building occupied by two auto-related tenants.
Where is this auto shop located?
The property is located at 1601-1607 SE Village Green Dr Port Saint Lucie, FL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Fully occupied by two tenants with $16.00/sf NNN leases in place, providing immediate income.; Excellent location in an industrial region of Port St. Lucie, Florida.; Quick accessibility to US‑1 and the Crosstown Parkway extension.
