Flex Industrial Condominium
For Sale
$350,000
839 South Kings Highway, Fort Pierce, FL 34945
Industrial condominium flex bay includes a finished front office, open warehouse space, and 20’ clear height.
Property Size19,341 SF
Price / SF$225.52
Days on Market158
Property Features for 839 South Kings Highway
General Information
Standard status
Active
Size
19,341 SF
Property subtype
Industrial
Lease Type
Gross
Additional Details
Highway Access
Yes
Clear Height
20 ft
Building Details
Building Size
19,341 SF
Year Built
2006
Listing Agency:
SLC Commercial
(772) 332-9544
Listed By:
Cooper Osteen · License #3307813
(772) 332-9544
Source:
Slccommercial
Added: Mar 25
Changed: Aug 26
Last Checked: Aug 28 at 8:53AM
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
Investment Insights
Based on property information with market context.
This flex industrial condominium unit offers a well-finished front office and open warehouse space designed for flexible business use. The warehouse area includes 20’ clear height, supporting a range of light industrial and storage requirements.
The property is located just off the I-95 interchange in Fort Pierce and includes ample parking for tenant and customer access.
With its combination of office buildout and warehouse clearance, the unit is suited for users seeking a modern flex warehouse layout within an industrial condominium setting.
The property is located just off the I-95 interchange in Fort Pierce and includes ample parking for tenant and customer access.
With its combination of office buildout and warehouse clearance, the unit is suited for users seeking a modern flex warehouse layout within an industrial condominium setting.
Key Highlights
- 1,552 SF flex industrial condominium unit built in 2006
- Includes a well‑finished front office plus open warehouse space
- 20’ clear height in the warehouse area
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
$15,050
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
4.30%
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%
$301,000
$301.0K
Cap Rate 7%
$215,000
$215.0K
Cap Rate 9%
$167,222
$167.2K
Market Conditions
NOI Build-Up for 1,552 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
$26.1K $16.80/SF
− Vacancy
−$2.9K −$1.88/SF
EGI
$23.2K $14.92/SF
− OpEx
−$8.1K −$5.22/SF
NOI
$15.0K $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%
$301,000
Cap Rate 7%
$215,000
Cap Rate 9%
$167,222
Alternative Uses
Best Use
Flex RnD
$215.0K
$188.1K – $250.8K
NOI $15,050 @ 7.0% cap · market cap 4.30%
Second Best
Warehouse
$189.8K
$166.1K – $221.4K
NOI $13,286 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office A
$390.3K
$341.5K – $455.4K
NOI $27,321 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
76
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34945, FL
5,831
Population
2,026
Households
2.9
Avg Household Size
42
Median Age
23%
College-Educated
86%
High-School Grad
217.4 sq mi
ZIP Area
27
Density / Sq Mi
$72,941
Median Household Income
$36,180
Median Earnings
$747
Median Rent
$285,500
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Tasty Catering Co. — 1720 Copenhaver Rd, Fort Pierce, FL 34945
- DiMichelli's Catering — 857 S Kings Hwy, Fort Pierce, FL 34945
Frequently Asked Questions
What type of property is this?
Flex space - Industrial condominium flex bay includes a finished front office, open warehouse space, and 20’ clear height.
Where is this flex space located?
The property is located at 839 South Kings Highway Fort Pierce, 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: 1,552 SF flex industrial condominium unit built in 2006; Includes a well‑finished front office plus open warehouse space; 20’ clear height in the warehouse area
