Self-Storage Development
For Sale
Contact for pricing
500 N 39th St, Fort Pierce, FL 34947
Self-storage development in St. Lucie County, completion estimated July 2025.
Property Size41,000 SF
Price / SF$85.37
Days on Market824
Property Features for 500 N 39th St
General Information
Standard status
Active
Size
41,000 SF
Class
A
Property subtype
Self Storage
Zoning
Industrial commercial
Investment Type
Owner/User
Net Operating Income
$450,000
Building Details
Year Built
2025
Buildings
5
Stories
1
Units
413
Listing Agency:
Florida R.E. Acquisitions LLC
Listed By:
Larysa Torkaman · License #3138115
(561) 909-9575
Source:
Crexi
Added: Jun 3, 2024
Changed: Aug 26
Last Checked: Sep 4 at 8:24AM
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 Florida R.E. Acquisitions LLC
Investment Insights
Based on property information with market context.
This self-storage development opportunity is located in St. Lucie County, within the Treasure Coast area, which is experiencing a population growth of 15-20% per year. The property is strategically situated in a busy residential neighborhood with over 4,000 new homes and the largest RV and boat storage facility in the area. The estimated completion date for the development is July 15th, 2025. The property has a size of 41,000 square feet.
Key Highlights
- Strategically located in a rapidly growing area (TREASURE COAST population growth 15‑20%/year).
- Located in busy residential neighborhoods with +4,000 new homes.
- Largest RV and boat storage in the area.
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
$289,048
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
8.26%
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%
$5,780,960
$5.8M
Cap Rate 7%
$4,129,257
$4.1M
Cap Rate 9%
$3,211,644
$3.2M
Market Conditions
NOI Build-Up for 41,000 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
$511.7K $12.48/SF
− Vacancy
−$98.8K −$2.41/SF
EGI
$412.9K $10.07/SF
− OpEx
−$123.9K −$3.02/SF
NOI
$289.0K $7.05/SF
Area
St. Lucie County, FL
Vacancy
19.30%
Lease Rate
$12.48 /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%
$5,780,960
Cap Rate 7%
$4,129,257
Cap Rate 9%
$3,211,644
Alternative Uses
Best Use
Self Storage
$6.56M
$5.74M – $7.66M
NOI $459,430 @ 7.0% cap · market cap 13.13%
Second Best
Industrial
$4.13M
$3.61M – $4.82M
NOI $289,048 @ 7.0% cap · market cap 8.26%
Theoretical Best
Office A
$10.31M
$9.02M – $12.03M
NOI $721,764 @ 7.0% cap · market cap 20.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
297
Businesses Nearby
Explore this area
Business Placement
Demographics for 34947, FL
13,933
Population
4,691
Households
3
Avg Household Size
32
Median Age
19%
College-Educated
81%
High-School Grad
9.7 sq mi
ZIP Area
1,436
Density / Sq Mi
$44,985
Median Household Income
$31,968
Median Earnings
$1,125
Median Rent
$202,700
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Self-storage development in St. Lucie County, completion estimated July 2025.
Where is this self storage facility located?
The property is located at 500 N 39th St Fort Pierce, FL.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Strategically located in a rapidly growing area (TREASURE COAST population growth 15‑20%/year).; Located in busy residential neighborhoods with +4,000 new homes.; Largest RV and boat storage in the area.
