Building Details

Building Size 14,224 SF

Year Built 1986

Stories 2

Listing Agency: Coldwell Banker Paradise | Fort Pierce (North)

Listed By: Frank J Strazzulla Show Phone

Source: Evrealestate

Added: Apr 2 Changed: Oct 7 Last Checked: Oct 19 at 5:14AM

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Investment Insights

Based on property information with market context.

Located in Fort Pierce, FL, the property at 16050 Orange Ave presents an investment opportunity. The property, zoned for light industrial use, spans 1.98 acres. It features a 15,148 square foot building, including 4,000 square feet of office space and 11,148 square feet of warehouse space. The premises are fully fenced and secured, and include covered parking for up to 12 vehicles. A parts counter is also present. Constructed in 1986 and renovated in 2021, this well-maintained facility is suitable for industrial and manufacturing ventures, and is ideal for investors or owner users.

Key Highlights

• Fully equipped industrial property with 15,148 SF building.
• Located on 1.98 acres of prime light industrial zoned land.
• Features 4,000 SF of office space and 11,148 SF of warehouse space.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$146,890

Cap Rate

4.45%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,937,800 $2.9M

Cap Rate 7%

$2,098,429 $2.1M

Cap Rate 9%

$1,632,111 $1.6M

Is this asking price fair?

Market Conditions

NOI Build-Up for 15,148 SF

Gross rent

$254.5K $16.80/SF

− Vacancy

−$28.5K −$1.88/SF

EGI

$226.0K $14.92/SF

− OpEx

−$79.1K −$5.22/SF

NOI

$146.9K $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 Rate 5%

$2,937,800

Cap Rate 7%

$2,098,429

Cap Rate 9%

$1,632,111

Alternative Uses

Best Use

Flex RnD

$2.10M

$1.84M – $2.45M (±1% cap)

NOI $146,890 @ 7.0% cap · market cap 4.45%

Second Best

Industrial

$1.53M

$1.33M – $1.78M (±1% cap)

NOI $106,793 @ 7.0% cap · market cap 3.24%

Theoretical Best

Office A

$3.81M

$3.33M – $4.44M (±1% cap)

NOI $266,665 @ 7.0% cap · market cap 8.08%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Agri Services International Agricultural Service

Suggested Use

Top Pick Auto Repair Shop Plumbing Service Storage Facility Kitchen & Bath Showroom Auto Parts Store Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

32

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 34945, FL

5,831

Population

2,026

Households

2.9

Avg Household Size

42

Median Age

23%

College-Educated

86%

High-School Grad

217.4 sq mi

ZIP Area

27

Density / Sq Mi

$72,941

Median Household Income

$36,180

Median Earnings

$747

Median Rent

$285,500

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Fully equipped industrial property with office and warehouse space.

Where is this flex space located?

The property is located at 16050 Orange Avenue Fort Pierce, FL.

What is the asking price?

The asking price for this property is $3,299,000.

What are key features of this property?

This property features: Fully equipped industrial property with 15,148 SF building.; Located on 1.98 acres of prime light industrial zoned land.; Features 4,000 SF of office space and 11,148 SF of warehouse space.