Building Details

Year Built 1967

Buildings 1

Building Size 4,100 SF

Construction concrete block

Tenancy Multi

Listing Agency: Florida Relocation Team, LLC

Listed By: Gustavo Gutierrez · License #R10949979 Show Phone

Source: Thepennteam

Added: Sep 28 Last Checked: Oct 5 at 9:04PM

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Investment Insights

Based on property information with market context.

This 4,100-square-foot flex property contains a 2,900-square-foot CBS building and an adjoining 1,200-square-foot unit. The adjoining space has high ceilings and five overhead doors, each measuring 14 by 12 feet. Two permitted storage sheds and a fenced storage yard add covered and open-air storage options. The property also includes parking and is being sold as-is.

The 0.55-acre parcel occupies a corner lot in Fort Pierce. Built in 1967, the property currently has two tenants.

Key Highlights

• 4,100 square feet across two adjoining sections: 2,900 square feet and 1,200 square feet
• Adjoining unit has five 14‑by‑12‑foot overhead doors and high ceilings
• 0.55‑acre corner parcel with fenced storage yard

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$39,758

Cap Rate

3.18%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$795,160 $795.2K

Cap Rate 7%

$567,971 $568.0K

Cap Rate 9%

$441,756 $441.8K

Market Conditions

NOI Build-Up for 4,100 SF

Gross rent

$68.9K $16.80/SF

− Vacancy

−$7.7K −$1.88/SF

EGI

$61.2K $14.92/SF

− OpEx

−$21.4K −$5.22/SF

NOI

$39.8K $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%

$795,160

Cap Rate 7%

$567,971

Cap Rate 9%

$441,756

Alternative Uses

Best Use

Flex RnD

$568.0K

$497.0K – $662.6K (±1% cap)

NOI $39,758 @ 7.0% cap · market cap 3.18%

Second Best

Industrial

$412.9K

$361.3K – $481.8K (±1% cap)

NOI $28,905 @ 7.0% cap · market cap 2.31%

Theoretical Best

Office A

$1.03M

$902.2K – $1.20M (±1% cap)

NOI $72,176 @ 7.0% cap · market cap 5.77%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Volcano Restaurant XKlusive Auto Sales Car Dealership

Suggested Use

Top Pick Real Estate Agency Building Supply Big Box & Wholesale Store Law Firm HVAC Service Parking Lot & Garage

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

Lease Details

Multi-tenant

Tenancy

Yes

Fenced yard

Location Intelligence

Trade Area within ½ mile

1,039

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 34947, FL

13,933

Population

4,691

Households

3

Avg Household Size

32

Median Age

19%

College-Educated

81%

High-School Grad

9.7 sq mi

ZIP Area

1,436

Density / Sq Mi

$44,985

Median Household Income

$31,968

Median Earnings

$1,125

Median Rent

$202,700

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - A two-section commercial property pairs enclosed work space with outdoor storage and two permitted sheds.

Where is this flex space located?

The property is located at 2807 Okeechobee Rd Fort Pierce, FL.

What is the asking price?

The asking price for this property is $1,250,000.

What are key features of this property?

This property features: 4,100 square feet across two adjoining sections: 2,900 square feet and 1,200 square feet; Adjoining unit has five 14‑by‑12‑foot overhead doors and high ceilings; 0.55‑acre corner parcel with fenced storage yard