Commercial Property with Office and
For Sale
$550,000
5009 Lace Avenue, Fort Pierce, FL 34982
Mixed-use property with office, storage, and fenced parking.
Property Size1,600 SF
Lot Size0.55 Acres
Price / SF$343.75
Days on Market882
Property Features for 5009 Lace Avenue
General Information
Standard status
Active
Size
1,600 SF
Lot size
0.55 Acres
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$3,544
Amenities
Ceiling Fan(s)
3
Building Details
Year Built
1967
Stories
1
Listing Agency:
Pinnacle Real Estate Group
(772) 777-8500
Listed By:
Kevin DeVos · License #B26045136
(772) 370-0470
Source:
Xome
Added: Apr 10, 2024
Changed: Sep 8
Last Checked: Apr 24 at 7:57AM
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 Pinnacle Real Estate Group
Investment Insights
Based on property information with market context.
This commercial property, situated midway between Vero Beach and Stuart just off US-1, offers convenient access to local communities and a direct 5-mile route to I-95. The 0.55-acre general commercial property is fully fenced and features over 13,000 square feet of paver-laid parking and driveway areas. It includes two buildings suitable for various business types. The first is a CBS office building with over 1600 square feet of air-conditioned office and storage space, featuring a new metal roof installed in 2018, storm protection, and a handicap-compliant bathroom and parking. Within the fenced area is a 1300 square foot, 3-bay aluminum building constructed in 2019, along with a covered porch area for protected outdoor storage.
Key Highlights
- .55 acre general commercial property
- Located midway between Vero Beach and Stuart, just off US‑1
- Over 13,000 sq. ft. of paver laid parking and driveway areas
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
$21,600
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
3.93%
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%
$432,000
$432.0K
Cap Rate 7%
$308,571
$308.6K
Cap Rate 9%
$240,000
$240.0K
Market Conditions
NOI Build-Up for 1,600 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
$38.4K $24.00/SF
− Vacancy
−$3.8K −$2.40/SF
EGI
$34.6K $21.60/SF
− OpEx
−$13.0K −$8.10/SF
NOI
$21.6K $13.50/SF
Area
St. Lucie County, FL
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$432,000
Cap Rate 7%
$308,571
Cap Rate 9%
$240,000
Alternative Uses
Best Use
Mixed Use
$308.6K
$270.0K – $360.0K
NOI $21,600 @ 7.0% cap · market cap 3.93%
Second Best
Office B
$288.8K
$252.7K – $337.0K
NOI $20,218 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$402.4K
$352.1K – $469.4K
NOI $28,166 @ 7.0% cap · market cap 5.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
457
Businesses Nearby
Explore this area
Business Placement
Demographics for 34982, FL
27,067
Population
12,356
Households
2.2
Avg Household Size
43
Median Age
15%
College-Educated
84%
High-School Grad
15.5 sq mi
ZIP Area
1,746
Density / Sq Mi
$54,025
Median Household Income
$33,661
Median Earnings
$1,254
Median Rent
$228,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with office, storage, and fenced parking.
Where is this mixed-use property located?
The property is located at 5009 Lace Avenue Fort Pierce, FL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: .55 acre general commercial property; Located midway between Vero Beach and Stuart, just off US‑1; Over 13,000 sq. ft. of paver laid parking and driveway areas
