Flex Space with Open
For Sale
$230,000
3781 Oleander Avenue, Fort Pierce, FL 34982
Commercial Sale, Fort Pierce, FL
Property Size1,533 SF
Lot Size0.02 Acres
Price / SF$150.03
Days on Market218
Property Features for 3781 Oleander Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Indust
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Subdivision
7140
Standard status
Active
APN
243350300100003
Size
1,533 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Coordinates: 27.3917(lat) -80.335(lon) Legal Description: BILTMORE COMMERCIAL PARK CONDOMINIUM (OR 2683-2589) BLDG
Tax Annual Amount
2749
HOA Fee
$555 Annually
Legal Description
Coordinates: 27.3917(lat) -80.335(lon) Legal Description: BILTMORE COMMERCIAL PARK CONDOMINIUM (OR 2683-2589) BLDG
Utilities
Utilities
Cable Available
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
spacious open bay
air-conditioned office
Building Details
Year built
2006
Floors in Building
2
Number of units
1
Flooring type
Concrete
Building materials
Concrete, Metal Siding, Mixed
Roof type
Metal
Listing Agency:
Partnership Realty Inc.
(561) 355-0270
Listed By:
Ellecia Hutchinson · License #3339422
(561) 618-2221
Added: Jan 16
Changed: Aug 21
Last Checked: Aug 22 at 11:06PM
MLS# R11155212
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 flex-space property at 3781 Oleander Avenue includes an open bay paired with an air-conditioned office, creating a practical configuration for a small business, workshop, or storage operation. The building has concrete flooring, a metal roof, mixed concrete and metal-siding construction, and two bathrooms. Window and wall/window cooling units are present.
The property occupies 0.02 acres in Fort Pierce, Florida, with access to major highways for business travel and logistics. Zoning is identified as Indust. Public water service and cable availability are also reported, and the building was constructed in 2006.
The property occupies 0.02 acres in Fort Pierce, Florida, with access to major highways for business travel and logistics. Zoning is identified as Indust. Public water service and cable availability are also reported, and the building was constructed in 2006.
Key Highlights
- Open‑bay layout with air‑conditioned office
- 0.02‑acre commercial site in Fort Pierce
- Indust zoning designation
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
$17,674
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
7.68%
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%
$353,480
$353.5K
Cap Rate 7%
$252,486
$252.5K
Cap Rate 9%
$196,378
$196.4K
Market Conditions
NOI Build-Up for 1,533 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
$27.6K $18.00/SF
− Vacancy
−$2.3K −$1.53/SF
EGI
$25.2K $16.47/SF
− OpEx
−$7.6K −$4.94/SF
NOI
$17.7K $11.53/SF
Area
St. Lucie County, FL
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$353,480
Cap Rate 7%
$252,486
Cap Rate 9%
$196,378
Alternative Uses
Best Use
Retail
$252.5K
$220.9K – $294.6K
NOI $17,674 @ 7.0% cap · market cap 7.68%
Second Best
Flex RnD
$212.4K
$185.8K – $247.8K
NOI $14,865 @ 7.0% cap · market cap 6.46%
Theoretical Best
Office A
$385.5K
$337.3K – $449.8K
NOI $26,987 @ 7.0% cap · market cap 11.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
431
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 34982, FL
27,067
Population
12,356
Households
2.2
Avg Household Size
43
Median Age
15%
College-Educated
84%
High-School Grad
15.5 sq mi
ZIP Area
1,746
Density / Sq Mi
$54,025
Median Household Income
$33,661
Median Earnings
$1,254
Median Rent
$228,300
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.
Similar Off Market Nearby
- Huck's Catering — 408 Farmers Market Rd, Fort Pierce, FL 34982
Frequently Asked Questions
What type of property is this?
Flex space - Industrial zoning, an air-conditioned office, concrete flooring, and two bathrooms support flexible commercial use.
Where is this flex space located?
The property is located at 3781 Oleander Avenue Fort Pierce, FL.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Open‑bay layout with air‑conditioned office; 0.02‑acre commercial site in Fort Pierce; Indust zoning designation
