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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    4240 Bandy Blvd Fort Pierce, FL 34981

    • Warehouses
    • 27,200 SF
    • 2.94 lot acres
    For Lease
    View listing
    $16 SF/Yr
    Last Sale
    Nov 08, 2023
    $6,990,000
    Value Estimations
    $5,250,000
    Cap Rate Potential
    4.2%
    Warehouses
    Location Intelligence
    Property ID
    US18-3880260
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Motion / Factory / Industrial Manufacturer

    Property Details for 4240 Bandy Blvd

    Year built
    1991
    Construction
    CONCRETE BLOCKS
    Lot size
    2.94 lot acres
    Property size
    27,200 SF
    Zone code
    LIGHT INDU
    Property type
    Warehouses
    APN
    2431-505-0009-000-3
    APU
    243150500090003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,485,000
      ML approach
      $5,635,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,880,000
      6.5%
      $3,580,000
      7%
      $3,325,000

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $3,305,000
      Current use
      AUTO REPAIR, GARAGE
      $7,120,000
      Change: +116% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $6,140,000
      Change: +86% Conversion: Moderate
      RETAIL STORES
      $5,490,000
      Change: +66% Conversion: Moderate
      MEDICAL BUILDING
      $5,160,000
      Change: +56% Conversion: Difficult
      OFFICE BUILDING
      $4,845,000
      Change: +47% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $3,925,000
      Change: +19% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Fort Pierce
    County
    St. Lucie
    State
    Florida
    Longitude
    -80.369
    Latitude
    27.3937
    CBSA code
    38940
    CBSA name
    PORT ST. LUCIE-FORT PIERCE, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $54,730
    $523,000
    $2,000,900
    $2,523,900
    -
    $523,000
    $2,000,900
    $2,523,900

    Comparable in this City

    • Value Estimation
      $1,305,000
      8,400 SF

      5690 Environment Dr

      WAREHOUSE, STORAGE • 8,400 SF
      5690 Environment Dr, Fort Pierce, FL 34981
      View Details
    • Value Estimation
      $1,165,000
      16,730 SF

      Glades Cut Off Rd

      WAREHOUSE, STORAGE • 16,730 SF
      Glades Cut Off Rd, Fort Pierce, FL 34981
      View Details
    • Value Estimation
      $2,025,000
      25,000 SF

      4750 Magnum Dr

      WAREHOUSE, STORAGE • 25,000 SF
      4750 Magnum Dr, Fort Pierce, FL 34981-4839
      View Details
    • Value Estimation by Request
      3,300 SF

      4120 Selvitz Rd

      WAREHOUSE, STORAGE • 3,300 SF
      4120 Selvitz Rd, Fort Pierce, FL 34981-4728
      View Details
    • Value Estimation
      $635,000
      5,700 SF

      4100 Prosperity Dr

      WAREHOUSE, STORAGE • 5,700 SF
      4100 Prosperity Dr, Fort Pierce, FL 34981
      View Details
    • Value Estimation
      $6,220,000
      78,210 SF

      5300 Glades Cut Off Rd

      WAREHOUSE, STORAGE • 78,210 SF
      5300 Glades Cut Off Rd, Fort Pierce, FL 34981-4613
      View Details

    Similar Nearby for Sale

    • $487,500

      Treasure Coast Flex Office/Warehouse Condo

      1,500-8,500 SF flex space on the Treasure Coast.
      2561 Mcneil Rd, Fort Pierce, FL 34981
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    • $487,500

      Treasure Coast Flex Office/Warehouse Condo

      1,500-8,500 SF flex space with highway access.
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    • $1,200,000
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      Professional Office Building For Sale

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    • $7,500,000

      34.22 Acres Commercial Land

      34.22 acres of commercial land in Saint Lucie County.
      2550 W Midway Rd, Fort Pierce, FL 34981
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    • $389,000

      Commercial Land Development Opportunity

      0.59-acre commercial land parcel zoned for general commercial use.
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    • Contact for pricing
      39 SF

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      39-acre parcel suitable for residential development in Fort Pierce, Florida.
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    Similar Nearby for Lease

    • $16 SF/Yr
      20,980 SF

      Fort Pierce Industrial/Storage Space

      Flexible industrial and storage spaces in Fort Pierce Business Park.
      4101 Bandy Blvd, Fort Pierce, FL 34981
      View Details
    • $16 SF/Yr
      27,200 SF

      Fort Pierce Industrial Flex Space

      Flexible industrial and storage space in Fort Pierce Business Park.
      4240 Bandy Blvd, Fort Pierce, FL 34981
      View Details
    • $7,934 /Mo
      6,480 SF

      Fort Pierce Industrial Lease Options

      Multiple industrial lease options available in Fort Pierce Business Park.
      4240-4252 Bandy Blvd, Fort Pierce, FL 34981
      View Details
    • $16 SF/Yr
      19,840 SF

      Fort Pierce Warehouse Space Available

      Warehouse space for lease near major highways in Fort Pierce.
      3904 Selvitz Rd, Fort Pierce, FL 34981
      View Details
    • $800 /Mo
      600 SF

      Fort Pierce Industrial Lease Options

      Industrial lease options available with roll-up doors and loading dock.
      4121-4139 Bandy Blvd, Fort Pierce, FL 34981
      View Details
    • $2,200 /Mo

      Spacious Quonset Hut on Acreage

      2,550 SF Quonset hut on 13.69 acres for rent.
      4910 Ralls Rd, Fort Pierce, FL 34981
      View Details
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    Fort Pierce, FL 34981
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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