Flex Warehouse/Office Condominium
For Sale
Contact for pricing
7867 SW Ellipse Way, Stuart, FL 34997
Flex warehouse/office condominium unit in Stuart's Treasure Coast Commerce Center.
Property Size1,338 SF
Price / SF$265
Days on Market717
Property Features for 7867 SW Ellipse Way
General Information
Standard status
Active
Size
1,338 SF
Property subtype
Industrial, Office
Zoning
LI
Building Details
Year Built
2004
Stories
1
Listing Agency:
Chapman Commercial Real Estate
Listed By:
Janine Landolina · License #FL 3094598
(772) 288-6646
Source:
Crexi
Added: Sep 17, 2024
Changed: Aug 24
Last Checked: Sep 3 at 3:48AM
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 Chapman Commercial Real Estate
Investment Insights
Based on property information with market context.
Available for sale is a flex warehouse/office condominium unit located in the Elite Professional Plaza. This property is situated in the Treasure Coast Commerce Center at the northwest corner of I-95 and Kanner Highway in Stuart, Florida. The unit, totaling 1338 square feet, features one large office and a warehouse area. Access to the warehouse is provided by a rear grade-level overhead door and a pedestrian door. The entire unit is fully air-conditioned. The property benefits from low traffic and is well-maintained.
Key Highlights
- High‑demand flex warehouse/office condominium unit.
- Convenient location at the northwest corner of I‑95 and Kanner Highway.
- Fully air‑conditioned office and warehouse space.
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
$17,824
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
5.03%
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%
$356,480
$356.5K
Cap Rate 7%
$254,629
$254.6K
Cap Rate 9%
$198,044
$198.0K
Market Conditions
NOI Build-Up for 1,338 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
$27.0K $20.16/SF
− Vacancy
−$1.5K −$1.13/SF
EGI
$25.5K $19.03/SF
− OpEx
−$7.6K −$5.71/SF
NOI
$17.8K $13.32/SF
Area
Martin County, FL
Vacancy
5.60%
Lease Rate
$20.16 /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%
$356,480
Cap Rate 7%
$254,629
Cap Rate 9%
$198,044
Alternative Uses
Best Use
Industrial
$254.6K
$222.8K – $297.1K
NOI $17,824 @ 7.0% cap · market cap 5.03%
Second Best
Flex RnD
$177.4K
$155.2K – $207.0K
NOI $12,419 @ 7.0% cap · market cap 3.50%
Theoretical Best
Retail
$351.5K
$307.6K – $410.1K
NOI $24,605 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
467
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34997, FL
44,000
Population
22,192
Households
2
Avg Household Size
52
Median Age
30%
College-Educated
92%
High-School Grad
90.7 sq mi
ZIP Area
485
Density / Sq Mi
$75,705
Median Household Income
$37,381
Median Earnings
$1,520
Median Rent
$335,200
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Cuisine 256 LLC — 7995 SW Jack James Dr, Stuart, FL 34997
- Enricos Catering — 7251 SW Gaines Ave, Stuart, FL 34997
- The Flavored Fork Catering — 7251 SW Gaines Ave, Stuart, FL 34997
Frequently Asked Questions
What type of property is this?
Flex space - Flex warehouse/office condominium unit in Stuart's Treasure Coast Commerce Center.
Where is this flex space located?
The property is located at 7867 SW Ellipse Way Stuart, FL.
What is the asking price?
The asking price for this property is $354,570.
What are key features of this property?
This property features: High‑demand flex warehouse/office condominium unit.; Convenient location at the northwest corner of I‑95 and Kanner Highway.; Fully air‑conditioned office and warehouse space.
