Multi-Tenant Investment
3802 Oleander Avenue, Fort Pierce, FL 34982
Multi-tenant industrial and office buildings on .92 acres.
Type:Special Purpose
Property size:
5,520 SFLot size:
0.92 AcresPrice / SF:
$235/SF- Added:
- Jul 29, 2023
- Days on Market:
- 1040
- Last Refresh:
- May 12 at 11:38 pm
Property Features for 3802 Oleander Avenue
General Information
- Standard status
- Active
- Size
- 5,520 SF
- Lot size
- 0.92 Acres
- Property subtype
- Special Purpose
Building Details
- Year Built
- 1973
Listing agent Daniel Castaneda
Listing office American Realty of PSL LLC
Listing date Jul 29, 2023
Source Crexi
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 American Realty of PSL LLC
HighLights
- Multi‑tenant investment opportunity with industrial warehouse and separate office building.
- Total of 5,640 sq ft (4,020 sq ft warehouse + 1,620 sq ft office).
- Four warehouse bays are drywalled, insulated, and cooled with two 5‑ton A/C units.
- Located on busy Oleander Ave.
- Sits on 0.92 acres with a completely paved parking lot.
- Fenced‑in area; one bay and separate office building currently used as a Veterinary Medical Center.
Overview
This multi-tenant investment opportunity features an industrial warehouse building with 5 bays, totaling 4020 square feet, constructed in 1985. Additionally, there is a separate office building comprising 1620 square feet. Four of the bays are drywalled, insulated, and cooled by two 5-ton A/C units, currently utilized as an auditorium. The fifth bay and the separate office building, along with a fenced-in area, are currently occupied by a Veterinary Medical Center. The property is situated on 0.92 acres with a fully paved parking lot on Oleander Avenue.
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $139.1k | $25.20 |
| − Vacancy | −$14.6k | −$2.65 |
| EGI | $124.5k | $22.55 |
| − OpEx | −$49.8k | −$9.02 |
| NOI | $74.7k | $13.53 |
5,520 SF · lease $25.20/SF/yr · vacancy 10.50% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$1.07M
$933.7K – $1.24M
NOI $74,699 @ 7.0% cap · market cap 5.75%
Second Best
Mixed Use
$1.06M
$931.5K – $1.24M
NOI $74,520 @ 7.0% cap · market cap 5.74%
Theoretical Best
Office A
$1.39M
$1.21M – $1.62M
NOI $97,174 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Rescue Adoption, Inc.
Charitable Organization
Location Insight
- Map
- Local Demand
- City
- Fort Pierce
- County
- St. Lucie
- State
- Florida
- Longitude
- -80.3336249
- Latitude
- 27.3909908
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Multi-tenant industrial and office buildings on .92 acres.
Where is this mixed-use property located?
The property is located at 3802 Oleander Avenue Fort Pierce, FL.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Multi‑tenant investment opportunity with industrial warehouse and separate office building.; Total of 5,640 sq ft (4,020 sq ft warehouse + 1,620 sq ft office).; Four warehouse bays are drywalled, insulated, and cooled with two 5‑ton A/C units.
