Standalone Warehouse and
For Sale
$1,199,000
3359 SW 42nd Avenue, Palm City, FL 34990
Standalone steel warehouse with office space, positioned in a low-traffic warehouse complex near major highway access.
Property Size6,360 SF
Days on Market63
Property Features for 3359 SW 42nd Avenue
General Information
Standard status
Active
Size
6,360 SF
Total Parking Spaces
6
Zoning
M-2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$11,836
Building Details
Building Size
6,360 SF
Year Built
1985
Buildings
1
Stories
1
Construction
steel
Listing Agency:
R&R Ashore LLC
Listed By:
Regina Walker · License #3444820
(954) 254-7807
Source:
Laerrealty
Added: Jul 6
Changed: Aug 31
Last Checked: Sep 6 at 4:16AM
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 R&R Ashore LLC
Investment Insights
Based on property information with market context.
Standalone steel warehouse/office building currently used as a rigging facility for rigid inflatable boats. The property offers a functional layout suited to marine, automotive, light industrial, storage, service, or trades-based operations, with flexible space that can support equipment, inventory, and office needs.
The building is located within a well-maintained, low-traffic warehouse complex and provides convenient access to I-95 and Florida’s Turnpike.
As a turnkey-ready facility in a dedicated industrial setting, this property provides an operational warehouse footprint combined with office space for day-to-day business requirements.
The building is located within a well-maintained, low-traffic warehouse complex and provides convenient access to I-95 and Florida’s Turnpike.
As a turnkey-ready facility in a dedicated industrial setting, this property provides an operational warehouse footprint combined with office space for day-to-day business requirements.
Key Highlights
- Standalone steel warehouse/office building built in 1985
- Currently used as a rigging facility for rigid inflatable boats
- Functional layout suited for marine, automotive, light industrial, storage, service, or trades‑based operations
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
$102,882
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
8.58%
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%
$2,057,640
$2.1M
Cap Rate 7%
$1,469,743
$1.5M
Cap Rate 9%
$1,143,133
$1.1M
Market Conditions
NOI Build-Up for 6,360 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
$128.2K $20.16/SF
− Vacancy
−$7.2K −$1.13/SF
EGI
$121.0K $19.03/SF
− OpEx
−$18.2K −$2.85/SF
NOI
$102.9K $16.18/SF
Area
Martin County, FL
Vacancy
5.60%
Lease Rate
$20.16 /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%
$2,057,640
Cap Rate 7%
$1,469,743
Cap Rate 9%
$1,143,133
Alternative Uses
Best Use
Warehouse
$1.47M
$1.29M – $1.71M
NOI $102,882 @ 7.0% cap · market cap 8.58%
Second Best
Industrial
$1.21M
$1.06M – $1.41M
NOI $84,726 @ 7.0% cap · market cap 7.07%
Theoretical Best
Retail
$1.67M
$1.46M – $1.95M
NOI $116,958 @ 7.0% cap · market cap 9.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
446
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 34990, FL
31,160
Population
13,641
Households
2.3
Avg Household Size
51
Median Age
49%
College-Educated
97%
High-School Grad
103.0 sq mi
ZIP Area
303
Density / Sq Mi
$120,407
Median Household Income
$56,905
Median Earnings
$1,958
Median Rent
$558,300
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Standalone steel warehouse with office space, positioned in a low-traffic warehouse complex near major highway access.
Where is this flex space located?
The property is located at 3359 SW 42nd Avenue Palm City, FL.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Standalone steel warehouse/office building built in 1985; Currently used as a rigging facility for rigid inflatable boats; Functional layout suited for marine, automotive, light industrial, storage, service, or trades‑based operations
