7-Office Condominium
For Sale
Under Contract
$350,000
550 NW University Blvd, Port St Lucie, FL 34986
Commercial Sale, Port St Lucie, FL
Property Size2,124 SF
Lot Size0.05 Acres
Price / SF$164.78
Days on Market51
Property Features for 550 NW University Blvd
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
7500
Standard status
Active Under Contract
APN
3325-600-0010-400-6
Lot size
0.05 Acres
Taxes and HOA fees
Tax Description
UNIVERSITY PARK ST LUCIE WEST PLAT #143 SECOND REPLAT IN PARCEL 21D (PB 41-29) THAT PART OF LOT 7 DESC AS UNIT F-104 MPDAF: FROM NW COR OF L
Tax Annual Amount
7960
HOA Fee
$2,833 Quarterly
Legal Description
UNIVERSITY PARK ST LUCIE WEST PLAT #143 SECOND REPLAT IN PARCEL 21D (PB 41-29) THAT PART OF LOT 7 DESC AS UNIT F-104 MPDAF: FROM NW COR OF L
Building Details
Year built
2006
Floors in Building
1
Listing Agency:
Allison James Estates & Homes
(941) 500-4922
Listed By:
Nadine Pierre · License #3176331
(754) 245-4016
Added: Jul 13
Changed: Aug 21
Last Checked: Sep 1 at 10:06AM
MLS# A12028833
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This office condominium contains approximately 2,124 square feet with seven private offices, a reception and waiting area, restroom, and storage areas. The suite is currently vacant, supporting immediate owner occupancy or leasing to multiple tenants. The property is offered AS IS.
Located within West Park Professional Centre, the suite sits across from Clover Park, home of the New York Mets Spring Training facility. The property includes ample parking and provides access to I-95 and Florida's Turnpike, with restaurants, shopping, hospitals, and professional services in the surrounding area. Buyers are to verify measurements, zoning, permitted uses, condominium information, and association requirements.
Located within West Park Professional Centre, the suite sits across from Clover Park, home of the New York Mets Spring Training facility. The property includes ample parking and provides access to I-95 and Florida's Turnpike, with restaurants, shopping, hospitals, and professional services in the surrounding area. Buyers are to verify measurements, zoning, permitted uses, condominium information, and association requirements.
Key Highlights
- Approximately 2,124‑square‑foot office condominium
- Seven private offices with reception and waiting area
- Currently vacant for owner occupancy or leasing
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
$26,839
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
7.67%
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%
$536,780
$536.8K
Cap Rate 7%
$383,414
$383.4K
Cap Rate 9%
$298,211
$298.2K
Market Conditions
NOI Build-Up for 2,124 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
$45.9K $21.60/SF
− Vacancy
−$10.1K −$4.75/SF
EGI
$35.8K $16.85/SF
− OpEx
−$8.9K −$4.21/SF
NOI
$26.8K $12.64/SF
Area
St. Lucie County, FL
Vacancy
22.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$536,780
Cap Rate 7%
$383,414
Cap Rate 9%
$298,211
Alternative Uses
Best Use
Office B
$383.4K
$335.5K – $447.3K
NOI $26,839 @ 7.0% cap · market cap 7.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$534.2K
$467.4K – $623.2K
NOI $37,391 @ 7.0% cap · market cap 10.68%
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
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 - Vacant professional suite with reception space, restroom, storage, and flexible occupancy for an owner-user or multiple tenants.
Where is this office units located?
The property is located at 550 NW University Blvd Port St Lucie, FL.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Approximately 2,124‑square‑foot office condominium; Seven private offices with reception and waiting area; Currently vacant for owner occupancy or leasing
