Versatile Industrial Building For
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6940 Heritage Dr, Port St Lucie, FL 34952
3,213 SF industrial building ideal for various business operations.
Property Size3,213 SF
Price / SF$202.30
Days on Market153
Property Features for 6940 Heritage Dr
General Information
Standard status
Active
Size
3,213 SF
Class
C
Property subtype
Industrial
Zoning
CG - Commercial General
Lease Type
Gross
Investment Type
Owner/User
Building Details
Year Built
2002
Buildings
1
Tenancy
Multi
Listing Agency:
SLC Commercial Saint Lucie
Listed By:
Katie Parada · License #SL3514594
Source:
Crexi
Added: Mar 13
Changed: Aug 10
Last Checked: Aug 12 at 4:44AM
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 SLC Commercial Saint Lucie
Investment Insights
Based on property information with market context.
Constructed in 2002, this 3,213 SF industrial building features durable metal construction. It is suitable for light manufacturing, service trades, contractor storage, hobby or fabrication shops, and other small business operations. The property is located just off US Highway 1, providing access to surrounding commercial areas. The building is individually metered to support three 1,070 SF units and includes one restroom in Unit A.
Key Highlights
- Versatile 3,213 SF industrial building suitable for various business operations.
- Excellent access and connectivity due to its location just off US Highway 1.
- Durable metal construction.
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
$31,156
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
4.79%
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%
$623,120
$623.1K
Cap Rate 7%
$445,086
$445.1K
Cap Rate 9%
$346,178
$346.2K
Market Conditions
NOI Build-Up for 3,213 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
$54.0K $16.80/SF
− Vacancy
−$6.0K −$1.88/SF
EGI
$47.9K $14.92/SF
− OpEx
−$16.8K −$5.22/SF
NOI
$31.2K $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%
$623,120
Cap Rate 7%
$445,086
Cap Rate 9%
$346,178
Alternative Uses
Best Use
Flex RnD
$445.1K
$389.5K – $519.3K
NOI $31,156 @ 7.0% cap · market cap 4.79%
Second Best
Industrial
$323.6K
$283.1K – $377.5K
NOI $22,651 @ 7.0% cap · market cap 3.48%
Theoretical Best
Office A
$808.0K
$707.0K – $942.7K
NOI $56,562 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
470
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34952, FL
42,630
Population
21,844
Households
2
Avg Household Size
53
Median Age
24%
College-Educated
91%
High-School Grad
24.6 sq mi
ZIP Area
1,733
Density / Sq Mi
$60,123
Median Household Income
$37,184
Median Earnings
$1,635
Median Rent
$242,100
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Toque Boutique Catering — 7177 S U.S. Hwy 1, Port St. Lucie, FL 34952
Frequently Asked Questions
What type of property is this?
Flex space - 3,213 SF industrial building ideal for various business operations.
Where is this flex space located?
The property is located at 6940 Heritage Dr Port St Lucie, FL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Versatile 3,213 SF industrial building suitable for various business operations.; Excellent access and connectivity due to its location just off US Highway 1.; Durable metal construction.
