Single-Tenant Industrial
For Sale
Contact for pricing
2901 Industrial Avenue 2, Fort Pierce, FL 34946
Fully leased industrial building with steel truss construction, city water and sewer, and a lease term through September 2029.
Property Size5,920 SF
Price / SF$219.59
Days on Market78
Property Features for 2901 Industrial Avenue 2
General Information
Standard status
Active
Size
5,920 SF
Property subtype
Industrial
Zoning
IL
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Stabilized
Net Operating Income
$94,720
Additional Details
Highway Access
Yes
Building Details
Year Built
1987
Units
1
Tenancy
Single
Listing Agency:
Charles A. Von Stein, Inc
(772) 778-4885
Listed By:
Kirk Von Stein · License #FL
Source:
Crexi
Added: May 27
Changed: Aug 8
Last Checked: Aug 11 at 8:16PM
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 Charles A. Von Stein, Inc
Investment Insights
Based on property information with market context.
This single-tenant industrial property is offered as a fully leased investment. The building totals 5,920 square feet and is constructed with steel truss framing and a metal roof. City water and sewer utilities are in place, supporting straightforward operations for the current use. The property is leased to Total Smart Repair 360, LLC through September 2029.
The site is positioned at 2901 Industrial Avenue 2 in Fort Pierce, Florida. It is located adjacent to St. Lucie County International Airport and is described as only minutes from US-1, which may support tenant access and logistics for qualifying industrial needs.
For buyers seeking an operationally consistent asset, the current lease structure provides near-term stability with in-place annual income of $94,719.96 (approximately $16.00 per square foot). The lease also includes a contractual renewal option tied to a future rent of $20.00 per square foot, which is stated to increase future annual rent to $118,399.92. This combination of a defined lease term and documented renewal rent may be of interest to investors evaluating single-tenant industrial cash flow characteristics.
The site is positioned at 2901 Industrial Avenue 2 in Fort Pierce, Florida. It is located adjacent to St. Lucie County International Airport and is described as only minutes from US-1, which may support tenant access and logistics for qualifying industrial needs.
For buyers seeking an operationally consistent asset, the current lease structure provides near-term stability with in-place annual income of $94,719.96 (approximately $16.00 per square foot). The lease also includes a contractual renewal option tied to a future rent of $20.00 per square foot, which is stated to increase future annual rent to $118,399.92. This combination of a defined lease term and documented renewal rent may be of interest to investors evaluating single-tenant industrial cash flow characteristics.
Key Highlights
- Fully leased 5,920 SF single‑tenant industrial building at 2901 Industrial Avenue 2 in Fort Pierce, FL
- Lease in place through September 2029 with annual income of $94,719.96 (~$16.00 PSF)
- Contractual renewal option at $20.00 PSF would increase future annual rent to $118,399.92
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
$50,679
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
3.90%
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%
$1,013,580
$1.0M
Cap Rate 7%
$723,986
$724.0K
Cap Rate 9%
$563,100
$563.1K
Market Conditions
NOI Build-Up for 5,920 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
$73.9K $12.48/SF
− Vacancy
−$14.3K −$2.41/SF
EGI
$59.6K $10.07/SF
− OpEx
−$8.9K −$1.51/SF
NOI
$50.7K $8.56/SF
Area
St. Lucie County, FL
Vacancy
19.30%
Lease Rate
$12.48 /SF/Yr
Expense Ratio
15.00%
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%
$1,013,580
Cap Rate 7%
$723,986
Cap Rate 9%
$563,100
Alternative Uses
Best Use
Warehouse
$724.0K
$633.5K – $844.7K
NOI $50,679 @ 7.0% cap · market cap 3.90%
Second Best
Industrial
$596.2K
$521.7K – $695.6K
NOI $41,736 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$1.49M
$1.30M – $1.74M
NOI $104,216 @ 7.0% cap · market cap 8.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
170
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34946, FL
6,793
Population
3,435
Households
2
Avg Household Size
42
Median Age
14%
College-Educated
72%
High-School Grad
15.2 sq mi
ZIP Area
447
Density / Sq Mi
$40,488
Median Household Income
$27,591
Median Earnings
$1,000
Median Rent
$128,100
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Fully leased industrial building with steel truss construction, city water and sewer, and a lease term through September 2029.
Where is this warehouse located?
The property is located at 2901 Industrial Avenue 2 Fort Pierce, FL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Fully leased 5,920 SF single‑tenant industrial building at 2901 Industrial Avenue 2 in Fort Pierce, FL; Lease in place through September 2029 with annual income of $94,719.96 (~$16.00 PSF); Contractual renewal option at $20.00 PSF would increase future annual rent to $118,399.92
