Versatile Commercial Space on
For Sale
Contact for pricing
621 S US Hwy 1, Fort Pierce, FL 34950
High-traffic location with income potential and flexible commercial space.
Property Size11,661 SF
Lot Size0.27 Acres
Price / SF$168.08
Days on Market707
Property Features for 621 S US Hwy 1
General Information
Standard status
Active
Size
11,661 SF
Lot size
0.27 Acres
Property subtype
Industrial, Retail
Zoning
General Commercial
Lease Type
Gross
Investment Type
Value Add
Building Details
Year Built
1960
Year Renovated
2023
Buildings
1
Tenancy
Multi
Listing Agency:
RT Commercial
Listed By:
Jorge Tovar · License #FL
Source:
Crexi
Added: Oct 8, 2024
Changed: Sep 5
Last Checked: Sep 13 at 8:24AM
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 RT Commercial
Investment Insights
Based on property information with market context.
This commercial property offers a versatile space suitable for owner-users or investors. The available area spans 10,000 square feet, presenting an opportunity for business expansion or investment. The property includes two front units that are currently rented, each generating $1,000 in income. It features a renovated office space or showroom equipped with new air conditioning. Access is facilitated by three bay doors, with two accessible from US1 and one from Florida Avenue. The property is located in a high-traffic area, offering flexibility and income potential.
Key Highlights
- High‑traffic location with versatile access via 3 bay doors (2 from US1, 1 from Florida Ave).
- 10,000 sqft available, suitable for owner‑users or investors.
- Income‑generating: 2 front units currently rented at $1,000 each.
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
$157,424
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
8.03%
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%
$3,148,480
$3.1M
Cap Rate 7%
$2,248,914
$2.2M
Cap Rate 9%
$1,749,156
$1.7M
Market Conditions
NOI Build-Up for 11,661 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
$279.9K $24.00/SF
− Vacancy
−$28.0K −$2.40/SF
EGI
$251.9K $21.60/SF
− OpEx
−$94.5K −$8.10/SF
NOI
$157.4K $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%
$3,148,480
Cap Rate 7%
$2,248,914
Cap Rate 9%
$1,749,156
Alternative Uses
Best Use
Mixed Use
$2.25M
$1.97M – $2.62M
NOI $157,424 @ 7.0% cap · market cap 8.03%
Second Best
Office B
$2.10M
$1.84M – $2.46M
NOI $147,348 @ 7.0% cap · market cap 7.52%
Theoretical Best
Office A
$2.93M
$2.57M – $3.42M
NOI $205,280 @ 7.0% cap · market cap 10.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,443
Businesses Nearby
Explore this area
Business Placement
Demographics for 34950, FL
16,582
Population
8,055
Households
2.1
Avg Household Size
37
Median Age
14%
College-Educated
64%
High-School Grad
5.2 sq mi
ZIP Area
3,189
Density / Sq Mi
$32,707
Median Household Income
$29,214
Median Earnings
$1,121
Median Rent
$175,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - High-traffic location with income potential and flexible commercial space.
Where is this mixed-use property located?
The property is located at 621 S US Hwy 1 Fort Pierce, FL.
What is the asking price?
The asking price for this property is $1,960,000.
What are key features of this property?
This property features: High‑traffic location with versatile access via 3 bay doors (2 from US1, 1 from Florida Ave).; 10,000 sqft available, suitable for owner‑users or investors.; Income‑generating: 2 front units currently rented at $1,000 each.
