Small-Bay Industrial Warehouse
For Sale
$1,995,000
412 Farmers Market Rd, Fort Pierce, FL 34982
Gated Light Industrial facility with flexible warehouse configurations and controlled site access.
Property Size15,050 SF
Lot Size0.78 Acres
Price / SF$132.56
Days on Market87
Property Features for 412 Farmers Market Rd
General Information
Standard status
Active
Size
15,050 SF
Lot size
0.78 Acres
Property subtype
Industrial
Zoning
Light Industrial
Additional Details
Highway Access
Yes
Warehouse Space
15,050 SF
Taxes and HOA fees
Annual Taxes
$45,884
Building Details
Building Size
15,050 SF
Year Built
1966
Buildings
2
Stories
1
Listing Agency:
NAI Southcoast
(772) 631-4248
Listed By:
Reid Armor · License #SL3328981
(772) 631-4248
Source:
Elliman
Added: Jun 6
Changed: Aug 29
Last Checked: Aug 30 at 9:17PM
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.
This property combines two small-bay warehouse buildings totaling approximately 15,050 square feet on an approximately 0.78-acre secured site. The layout supports warehouse operations along with distribution, storage, light manufacturing, contractor functions, and trade-related services. Individual spaces ranging from 1,000 SF to 6,800 SF are also available for lease.
The property is located at 412 Farmers Market Rd in Fort Pierce, within an established light industrial corridor just off US Highway 1. Light Industrial zoning and the gated configuration provide a defined setting for commercial operations, with on-site yard functionality and controlled entry.
The property is located at 412 Farmers Market Rd in Fort Pierce, within an established light industrial corridor just off US Highway 1. Light Industrial zoning and the gated configuration provide a defined setting for commercial operations, with on-site yard functionality and controlled entry.
Key Highlights
- Two combined warehouses totaling approximately 15,050 square feet
- Approximately 0.78‑acre gated and secured site
- Light Industrial zoning
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
$145,939
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
7.32%
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%
$2,918,780
$2.9M
Cap Rate 7%
$2,084,843
$2.1M
Cap Rate 9%
$1,621,544
$1.6M
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
$252.8K $16.80/SF
− Vacancy
−$28.3K −$1.88/SF
EGI
$224.5K $14.92/SF
− OpEx
−$78.6K −$5.22/SF
NOI
$145.9K $9.70/SF
Area
St. Lucie County, FL
Vacancy
11.20%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
35.00%
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%
$2,918,780
Cap Rate 7%
$2,084,843
Cap Rate 9%
$1,621,544
Alternative Uses
Best Use
Flex RnD
$2.08M
$1.82M – $2.43M
NOI $145,939 @ 7.0% cap · market cap 7.32%
Second Best
Warehouse
$1.84M
$1.61M – $2.15M
NOI $128,838 @ 7.0% cap · market cap 6.46%
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
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
486
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
- Extra Space Storage — 3900 S US Hwy 1, Fort Pierce, FL 34982
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- Self-Storage at U-Haul — 3626 S US Hwy 1, Fort Pierce, FL 34982
- Wildar RV, Boat, and Trailer Storage — 3502 S US Hwy 1, Fort Pierce, FL 34982
Frequently Asked Questions
What type of property is this?
Warehouse - Gated Light Industrial facility with flexible warehouse configurations and controlled site access.
Where is this warehouse located?
The property is located at 412 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 warehouses totaling approximately 15,050 square feet; Approximately 0.78‑acre gated and secured site; Light Industrial zoning
