Office Unit with Flex
For Sale
$365,000
540 NW University Boulevard Unit 206, Port St Lucie, FL 34986
Freshly painted office unit with reception, kitchen, private offices, and adaptable open workspace.
Property Size968 SF
Price / SF$377.07
Days on Market91
Property Features for 540 NW University Boulevard Unit 206
General Information
Standard status
Active
Size
968 SF
Additional Details
Highway Access
Yes
Building Details
Year Built
2006
Abandoned
No
Listing Agency:
The Keyes Company
Listed By:
Joanne McCurdy · License #3023629
(772) 216-2821
Source:
Chenoregroup
Added: Jun 4
Changed: Aug 31
Last Checked: Sep 1 at 9:14PM
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 The Keyes Company
Investment Insights
Based on property information with market context.
This commercial office unit offers a freshly painted, clean interior with a separate reception area, equipped kitchen, 4 offices, and a large open flex area. The configuration supports a range of professional office uses and provides a combination of defined rooms and adaptable workspace.
The property is positioned at 540 NW University Boulevard, #206, in Port St Lucie, Florida, with visibility from the road and custom signage allowed. It is located right off 95, across from the Mets Stadium, and includes plenty of parking. Built in 2006, the unit is zoned commercial and may suit an on-site user or an owner seeking space for a tenant.
The property is positioned at 540 NW University Boulevard, #206, in Port St Lucie, Florida, with visibility from the road and custom signage allowed. It is located right off 95, across from the Mets Stadium, and includes plenty of parking. Built in 2006, the unit is zoned commercial and may suit an on-site user or an owner seeking space for a tenant.
Key Highlights
- 4 offices plus a large open flex space
- Separate reception area and equipped kitchen
- Freshly painted and clean interior
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
$13,099
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
3.59%
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%
$261,980
$262.0K
Cap Rate 7%
$187,129
$187.1K
Cap Rate 9%
$145,544
$145.5K
Market Conditions
NOI Build-Up for 968 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
$24.4K $25.20/SF
− Vacancy
−$2.6K −$2.65/SF
EGI
$21.8K $22.55/SF
− OpEx
−$8.7K −$9.02/SF
NOI
$13.1K $13.53/SF
Area
St. Lucie County, FL
Vacancy
10.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
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%
$261,980
Cap Rate 7%
$187,129
Cap Rate 9%
$145,544
Alternative Uses
Best Use
Healthcare Medical
$187.1K
$163.7K – $218.3K
NOI $13,099 @ 7.0% cap · market cap 3.59%
Second Best
Office B
$174.7K
$152.9K – $203.9K
NOI $12,232 @ 7.0% cap · market cap 3.35%
Theoretical Best
Office A
$243.4K
$213.0K – $284.0K
NOI $17,041 @ 7.0% cap · market cap 4.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,125
Businesses Nearby
Explore this area
Business Placement
Demographics for 34986, FL
30,027
Population
14,600
Households
2.1
Avg Household Size
56
Median Age
35%
College-Educated
92%
High-School Grad
18.8 sq mi
ZIP Area
1,597
Density / Sq Mi
$85,842
Median Household Income
$44,182
Median Earnings
$1,600
Median Rent
$368,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Freshly painted office unit with reception, kitchen, private offices, and adaptable open workspace.
Where is this office units located?
The property is located at 540 NW University Boulevard Unit 206 Port St Lucie, FL.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: 4 offices plus a large open flex space; Separate reception area and equipped kitchen; Freshly painted and clean interior
