Industrial Flex Bay with High
For Sale
Under Contract
$250,000
6509 St Lucie Boulevard, Fort Pierce, FL 34946
CommercialSale, Fort Pierce, FL
Property Size1,000 SF
Lot Size0.02 Acres
Price / SF$250
Days on Market111
Property Features for 6509 St Lucie Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Zoning
,
Zoning description
Industrial
Lot features
Less Than Quarter Acre
Directions
Treasure Coast Vault is located west of St Lucie Airport on St Lucie Blvd, just east of Kings Hwy.
Subdivision
SLC west of IR
Standard status
Active Under Contract
APN
1336-600-0070-000-8
Lot size
0.02 Acres
Taxes and HOA fees
Tax Description
TREASURE COAST VAULT CONDOMINIUM ASSOCIATION INC (OR 5097-1336) BLDG 7 UNIT 9
Legal Description
TREASURE COAST VAULT CONDOMINIUM ASSOCIATION INC (OR 5097-1336) BLDG 7 UNIT 9
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
on-site bathrooms
RV dump station
Building Details
Year built
2025
Floors in Building
1
Flooring type
Concrete
Building materials
Block, Concrete
Roof type
Metal
Listing Agency:
Rennick Real Estate
(772) 562-5015
Listed By:
Steven A Rennick · License #3058135
(772) 473-4855
Added: May 5
Changed: Aug 19
Last Checked: Aug 23 at 4:06PM
MLS# 297110
Copyright © 2026 Realtors Association of Indian River County. 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 1,000-square-foot industrial bay is listed as under construction and features CBS construction, a concrete floor, metal roofing, and 20-foot ceilings. The space includes a 14-by-13-foot impact garage door, impact windows, two mini-split air-conditioning units, LED overhead lighting, and a 3-phase 100-amp electrical panel. On-site bathrooms, an RV dump station, washdown area, and loading area add functional site improvements.
The property is located just west of Treasure Coast International Airport in Fort Pierce, with convenient access to major highways. Public water and public sewer serve the property. The compact 0.02-acre parcel is configured for a single industrial bay and related access needs.
The property is located just west of Treasure Coast International Airport in Fort Pierce, with convenient access to major highways. Public water and public sewer serve the property. The compact 0.02-acre parcel is configured for a single industrial bay and related access needs.
Key Highlights
- 1,000 SF industrial bay on a 0.02‑acre parcel
- 20 ft ceilings with LED overhead lighting
- 14x13 impact garage door and impact windows
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
$9,697
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
3.88%
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%
$193,940
$193.9K
Cap Rate 7%
$138,529
$138.5K
Cap Rate 9%
$107,744
$107.7K
Market Conditions
NOI Build-Up for 1,000 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
$16.8K $16.80/SF
− Vacancy
−$1.9K −$1.88/SF
EGI
$14.9K $14.92/SF
− OpEx
−$5.2K −$5.22/SF
NOI
$9.7K $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%
$193,940
Cap Rate 7%
$138,529
Cap Rate 9%
$107,744
Alternative Uses
Best Use
Flex RnD
$138.5K
$121.2K – $161.6K
NOI $9,697 @ 7.0% cap · market cap 3.88%
Second Best
Warehouse
$122.3K
$107.0K – $142.7K
NOI $8,561 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$251.5K
$220.1K – $293.4K
NOI $17,604 @ 7.0% cap · market cap 7.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
20 ft
Clear height
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Explore this area
Business Placement
Demographics for 34946, FL
6,793
Population
3,435
Households
2
Avg Household Size
42
Median Age
14%
College-Educated
72%
High-School Grad
15.2 sq mi
ZIP Area
447
Density / Sq Mi
$40,488
Median Household Income
$27,591
Median Earnings
$1,000
Median Rent
$128,100
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?
Flex space - Concrete industrial bay with climate control, impact openings, three-phase power, and shared site amenities.
Where is this flex space located?
The property is located at 6509 St Lucie Boulevard Fort Pierce, FL.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1,000 SF industrial bay on a 0.02‑acre parcel; 20 ft ceilings with LED overhead lighting; 14x13 impact garage door and impact windows
