Building Details

Year Built 1989

Listed By: Stuart Duffin Show Phone

Added: Jan 9, 2025 Changed: Mar 16

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Investment Insights

Based on property information with market context.

This 12,350-square-foot warehouse is located in Port St. Lucie, Florida, on a 1.014-acre lot. The property is suitable for various industrial uses and features an expansive, open floor plan that offers flexibility for customization. High ceilings and robust construction ensure durability. The property benefits from convenient access to major roadways, enhancing logistical efficiency. The substantial lot size provides extensive parking and loading areas, with potential for future expansion. The warehouse is located at 2100 SW Conant Avenue and is fenced-in. The property is zoned for various industrial uses, making it an attractive option for businesses seeking a strategic location and substantial space.

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

$166,725

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

6.54%

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%

$3,334,500 $3.3M

Cap Rate 7%

$2,381,786 $2.4M

Cap Rate 9%

$1,852,500 $1.9M

Market Conditions

NOI Build-Up for 12,350 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

$296.4K $24.00/SF

− Vacancy

−$29.6K −$2.40/SF

EGI

$266.8K $21.60/SF

− OpEx

−$100.0K −$8.10/SF

NOI

$166.7K $13.50/SF

Area

St. Lucie County, FL

Vacancy

10.00%

Lease Rate

$24.00 /SF/Yr

Expense Ratio

37.50%

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%

$3,334,500

Cap Rate 7%

$2,381,786

Cap Rate 9%

$1,852,500

Alternative Uses

Best Use

Mixed Use

$2.38M

$2.08M – $2.78M (±1% cap)

NOI $166,725 @ 7.0% cap · market cap 6.54%

Second Best

Warehouse

$1.51M

$1.32M – $1.76M (±1% cap)

NOI $105,724 @ 7.0% cap · market cap 4.15%

Theoretical Best

Office A

$3.11M

$2.72M – $3.62M (±1% cap)

NOI $217,409 @ 7.0% cap · market cap 8.53%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Industrial properties

Location Intelligence

Trade Area within ½ mile

467

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 34953, FL

77,023

Population

28,131

Households

2.7

Avg Household Size

39

Median Age

23%

College-Educated

90%

High-School Grad

23.8 sq mi

ZIP Area

3,236

Density / Sq Mi

$81,028

Median Household Income

$39,348

Median Earnings

$1,902

Median Rent

$326,800

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?

Warehouse - 12,350-square-foot warehouse on a 1.014-acre lot in Port St. Lucie

Where is this warehouse located?

The property is located at 2100 SW Conant Avenue Port St Lucie Florida 34953 Fort Pierce, FL.

What is the asking price?

The asking price for this property is $2,550,000.