Industrial Flex Warehouse
For Sale
$350,000
865 South Kings Highway Fort, Fort Pierce, FL 34945
1,992 SF industrial flex condo in Fort Pierce, Florida.
Property Size1,992 SF
Price / SF$175.70
Days on Market146
Property Features for 865 South Kings Highway Fort
General Information
Standard status
Active
Size
1,992 SF
Property subtype
Factory
Building Details
Building Size
1,992 SF
Year Built
2006
Listing Agency:
SVN Commercial Partners | Treasure Coast
(772) 202-5522
Listed By:
Sam Zuker
(772) 202-5522
Source:
Thebrokerlist
Added: Apr 1
Changed: Aug 23
Last Checked: Aug 24 at 3:15AM
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 SVN Commercial Partners | Treasure Coast
Investment Insights
Based on property information with market context.
Located in First Source Commerce Park on Kings Highway in Fort Pierce, this industrial flex warehouse condo offers 1,992± square feet, including 1,536± square feet on the ground level and 456± square feet on the second floor. It is suitable for both investors and owner-users. The unit features 1,080± square feet of open warehouse space with 20-foot clear heights and a 10’ x 14’ grade-level overhead door, making it ideal for equipment storage, light assembly, trades, or vehicle, boat, or RV storage. The first floor includes 456± square feet of office space, consisting of three private offices and a restroom. An additional 456± square feet of second-floor office space with a restroom provides functional separation for administrative use or expanded operations. The property is zoned Industrial Light and is well-maintained. It offers easy access to major highways and is strategically located in Fort Pierce. The property is suitable for light manufacturing use and provides ample space for storage.
Key Highlights
- 1,992± SF industrial flex condo suitable for investors or owner‑users.
- Strategic location in First Source Commerce Park on Kings Highway in Fort Pierce.
- 1,080± SF open warehouse with 20‑foot clear heights and 10’ x 14’ grade‑level overhead door.
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
$19,316
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
5.52%
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%
$386,320
$386.3K
Cap Rate 7%
$275,943
$275.9K
Cap Rate 9%
$214,622
$214.6K
Market Conditions
NOI Build-Up for 1,992 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
$33.5K $16.80/SF
− Vacancy
−$3.7K −$1.88/SF
EGI
$29.7K $14.92/SF
− OpEx
−$10.4K −$5.22/SF
NOI
$19.3K $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%
$386,320
Cap Rate 7%
$275,943
Cap Rate 9%
$214,622
Alternative Uses
Best Use
Flex RnD
$275.9K
$241.5K – $321.9K
NOI $19,316 @ 7.0% cap · market cap 5.52%
Second Best
Industrial
$200.6K
$175.6K – $234.1K
NOI $14,044 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$501.0K
$438.3K – $584.5K
NOI $35,067 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
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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Frequently Asked Questions
What type of property is this?
Flex space - 1,992 SF industrial flex condo in Fort Pierce, Florida.
Where is this flex space located?
The property is located at 865 South Kings Highway Fort 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: 1,992± SF industrial flex condo suitable for investors or owner‑users.; Strategic location in First Source Commerce Park on Kings Highway in Fort Pierce.; 1,080± SF open warehouse with **20‑foot clear heights** and **10’ x 14’ grade‑level overhead door.**
