Retail Shopping Center with Front
For Sale
Contact for pricing
600 North US Highway One, Fort Pierce, FL 34950
Shopping center offers multiple units with front parking and strong US Highway One visibility for retail and office users.
Property Size19,183 SF
Price / SF$156.39
Days on Market105
Property Features for 600 North US Highway One
General Information
Standard status
Active
Size
19,183 SF
Property subtype
Retail, Office
Zoning
PU
Lease Type
Modified Gross
Additional Details
Highway Access
Yes
Building Details
Year Built
1920
Stories
1
Tenancy
Multi
Listing Agency:
Charles A. Von Stein, Inc
Listed By:
Kirk Von Stein
(772) 778-4885
Source:
Crexi
Added: May 27
Changed: Aug 25
Last Checked: Sep 8 at 4:45AM
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 Charles A. Von Stein, Inc
Investment Insights
Based on property information with market context.
Seaway Plaza is a shopping center offering multiple retail and office units, positioned to serve both destination and local traffic. The property provides parking in front of each unit, along with additional parking on the sides and rear of the building. Strong building presence is supported by 249 linear feet of building view along U.S. Highway One.
The center is located at the intersection of U.S. Highway One and Seaway Drive, described as the only road to the South Hutchinson Island barrier island in St. Lucie County. This setting supports prominent visibility on U.S. Highway One with convenient frontage for customers approaching from either direction.
For buyers and tenant operators, the mix of retail and office unit types can support a range of service and business uses where straightforward access and practical on-site parking matter. The ability to park directly in front of each unit, combined with supplementary side and back parking, helps accommodate customer flow and day-to-day operations across the center. Seaway Plaza is offered for sale.
The center is located at the intersection of U.S. Highway One and Seaway Drive, described as the only road to the South Hutchinson Island barrier island in St. Lucie County. This setting supports prominent visibility on U.S. Highway One with convenient frontage for customers approaching from either direction.
For buyers and tenant operators, the mix of retail and office unit types can support a range of service and business uses where straightforward access and practical on-site parking matter. The ability to park directly in front of each unit, combined with supplementary side and back parking, helps accommodate customer flow and day-to-day operations across the center. Seaway Plaza is offered for sale.
Key Highlights
- Seaway Plaza built in 1920
- Shopping center at the intersection of U.S. Highway One and Seaway Drive in Saint Lucie County
- 249 linear feet of building view/visibility on U.S. Highway One
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
$221,161
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
7.37%
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%
$4,423,220
$4.4M
Cap Rate 7%
$3,159,443
$3.2M
Cap Rate 9%
$2,457,344
$2.5M
Market Conditions
NOI Build-Up for 19,183 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
$345.3K $18.00/SF
− Vacancy
−$29.3K −$1.53/SF
EGI
$315.9K $16.47/SF
− OpEx
−$94.8K −$4.94/SF
NOI
$221.2K $11.53/SF
Area
St. Lucie County, FL
Vacancy
8.50%
Lease Rate
$18.00 /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%
$4,423,220
Cap Rate 7%
$3,159,443
Cap Rate 9%
$2,457,344
Alternative Uses
Best Use
Retail
$3.16M
$2.76M – $3.69M
NOI $221,161 @ 7.0% cap · market cap 7.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.82M
$4.22M – $5.63M
NOI $337,698 @ 7.0% cap · market cap 11.26%
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
1,218
Businesses Nearby
23k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 77%
Home Improvements & Furnishings 23%
McDonald's
Dining
17,753 visits/mo
0.1 miles
East Coast Lumber & Supply
Home Improvements & Furnishings
5,168 visits/mo
0.4 miles
Demographics for 34950, FL
16,582
Population
8,055
Households
2.1
Avg Household Size
37
Median Age
14%
College-Educated
64%
High-School Grad
5.2 sq mi
ZIP Area
3,189
Density / Sq Mi
$32,707
Median Household Income
$29,214
Median Earnings
$1,121
Median Rent
$175,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Shopping center offers multiple units with front parking and strong US Highway One visibility for retail and office users.
Where is this shopping center located?
The property is located at 600 North US Highway One Fort Pierce, FL.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Seaway Plaza built in 1920; Shopping center at the intersection of U.S. Highway One and Seaway Drive in Saint Lucie County; 249 linear feet of building view/visibility on U.S. Highway One
