Freestanding Medical Office
For Sale
$1,695,000
Pending
3651 Virginia Avenue, Fort Pierce, FL
Commercial Sale, Fort Pierce, FL
Property Size9,255 SF
Lot Size0.69 Acres
Days on Market96
Property Features for 3651 Virginia Avenue
General Information
Property type
Residential
Property subtype
Retail
Zoning
Comm Genra
Parking
16
Subdivision
7060
Standard status
Pending
APN
242060100270006
Size
9,255 SF
Lot size
0.69 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CROSS TRAIL S/D BLK 2 S 192.62 FT OF N 292.60 FT OF W 158 FT OFBLK 2-LESS AS IN OR 705-1198- (0.69 AC) (OR 981-2517)
Tax Annual Amount
15968
Legal Description
CROSS TRAIL S/D BLK 2 S 192.62 FT OF N 292.60 FT OF W 158 FT OFBLK 2-LESS AS IN OR 705-1198- (0.69 AC) (OR 981-2517)
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2006
Floors in Building
1
Building materials
Concrete Block - With Stucco
Roof type
Shingle
Listing Agency:
Sutter & Nugent LLC
(561) 249-7266
Listed By:
Michelle Wittenstein · License #3598461
(954) 945-0225
Added: Jun 9
Changed: Sep 1
Last Checked: Sep 12 at 12:06PM
MLS# B26039069
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This freestanding medical office property was constructed in 2006 with a practical interior arrangement that includes classrooms, private offices, a kitchen, and a dining hall. Central heating and central air serve the building, which features concrete-block construction with stucco, a shingle roof, and public water and sewer service.
The property occupies approximately 0.69+/- acres along Virginia Avenue in Fort Pierce and carries CG, or General Commercial, zoning. The permitted use categories identified for the site include retail, office, educational, health services, detox residential treatment, and behavioral health. HCA Hospital, Indian River State College, and Treasure Coast International Airport are each located just minutes away.
The property occupies approximately 0.69+/- acres along Virginia Avenue in Fort Pierce and carries CG, or General Commercial, zoning. The permitted use categories identified for the site include retail, office, educational, health services, detox residential treatment, and behavioral health. HCA Hospital, Indian River State College, and Treasure Coast International Airport are each located just minutes away.
Key Highlights
- Approximately 0.69+/- acres along Virginia Avenue in Fort Pierce
- CG (General Commercial) zoning
- Built in 2006
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
$125,242
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
7.39%
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%
$2,504,840
$2.5M
Cap Rate 7%
$1,789,171
$1.8M
Cap Rate 9%
$1,391,578
$1.4M
Market Conditions
NOI Build-Up for 9,255 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
$233.2K $25.20/SF
− Vacancy
−$24.5K −$2.65/SF
EGI
$208.7K $22.55/SF
− OpEx
−$83.5K −$9.02/SF
NOI
$125.2K $13.53/SF
Area
St. Lucie County, FL
Vacancy
10.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
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%
$2,504,840
Cap Rate 7%
$1,789,171
Cap Rate 9%
$1,391,578
Alternative Uses
Best Use
Healthcare Medical
$1.79M
$1.57M – $2.09M
NOI $125,242 @ 7.0% cap · market cap 7.39%
Second Best
Office B
$1.67M
$1.46M – $1.95M
NOI $116,946 @ 7.0% cap · market cap 6.90%
Theoretical Best
Office A
$2.33M
$2.04M – $2.72M
NOI $162,925 @ 7.0% cap · market cap 9.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
316
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Balanced
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Frequently Asked Questions
What type of property is this?
Medical Office Space - The property combines private offices, classrooms, and a kitchen with dining space in a dedicated commercial facility.
Where is this medical office space located?
The property is located at 3651 Virginia Avenue Fort Pierce, FL.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: Approximately 0.69+/- acres along Virginia Avenue in Fort Pierce; CG (General Commercial) zoning; Built in 2006
