Fort Pierce Industrial
For Sale
Contact for pricing
Pending
408 Farmers Market Rd, Fort Pierce, FL 34982
Two industrial warehouses totaling 15,050 SF on 0.78 acres.
Property Size15,050 SF
Lot Size0.78 Acres
Days on Market171
Property Features for 408 Farmers Market Rd
General Information
Standard status
Pending
Size
15,050 SF
Lot size
0.78 Acres
Property subtype
Industrial
Zoning
Light Industrial
Occupancy
63%
Lease Type
NNN
Investment Type
Value Add
Building Details
Year Built
1966
Year Renovated
2022
Buildings
2
Stories
1
Units
7
Listing Agency:
NAI Southcoast
(773) 631-4248
Listed By:
Reid Armor · License #FL SL3328981
Source:
Crexi
Added: Feb 23
Changed: Aug 8
Last Checked: Jul 24 at 4:41PM
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 NAI Southcoast
Investment Insights
Based on property information with market context.
Two combined industrial warehouses, totaling approximately 15,050 square feet, are situated on a gated and secured 0.78-acre site. The property is located within an established light industrial corridor near US Highway 1. Zoned Light Industrial, the property offers functional warehouse space with a flexible layout suitable for distribution, storage, light manufacturing, contractor operations, and trade-related services. The secure site configuration provides controlled access and efficient yard functionality. The property is located within the Fort Pierce industrial submarket, benefiting from regional growth, proximity to major transportation routes, and demand for small to mid-bay industrial product. The property represents an opportunity to acquire a well-located industrial asset in an expanding Treasure Coast market.
Key Highlights
- Two combined ±15,050 square foot industrial warehouses.
- Located on a gated and secured ±0.78‑acre site.
- Zoned Light Industrial, suitable for various uses.
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
$128,838
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
6.46%
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%
$2,576,760
$2.6M
Cap Rate 7%
$1,840,543
$1.8M
Cap Rate 9%
$1,431,533
$1.4M
Market Conditions
NOI Build-Up for 15,050 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
$187.8K $12.48/SF
− Vacancy
−$36.3K −$2.41/SF
EGI
$151.6K $10.07/SF
− OpEx
−$22.7K −$1.51/SF
NOI
$128.8K $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%
$2,576,760
Cap Rate 7%
$1,840,543
Cap Rate 9%
$1,431,533
Alternative Uses
Best Use
Warehouse
$1.84M
$1.61M – $2.15M
NOI $128,838 @ 7.0% cap · market cap 6.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.78M
$3.31M – $4.42M
NOI $264,940 @ 7.0% cap · market cap 13.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
491
Businesses Nearby
Well-served
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
- Self-Storage at U-Haul — 3626 S US Hwy 1, Fort Pierce, FL 34982
- Barrel Road Storage — 924 Barrel Ave, Fort Pierce, FL 34982
- Wildar RV, Boat, and Trailer Storage — 3502 S US Hwy 1, Fort Pierce, FL 34982
- Extra Space Storage — 3900 S US Hwy 1, Fort Pierce, FL 34982
- Arnoff Moving And Storage — 3620 us-1, fort pierce, fl 34982
Frequently Asked Questions
What type of property is this?
Warehouse - Two industrial warehouses totaling 15,050 SF on 0.78 acres.
Where is this warehouse located?
The property is located at 408 Farmers Market Rd Fort Pierce, FL.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Two combined ±15,050 square foot industrial warehouses.; Located on a gated and secured ±0.78‑acre site.; Zoned Light Industrial, suitable for various uses.
