Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    11525 138th Avenue Fellsmere, FL 32948

    View on Map
    For Sale
    $1,399,900

    LAND - Fellsmere, FL

    Lot size:
    29.63 Acres
    Added:
    Nov 28, 2025
    Days on Market:
    124
    Last Refresh:
    Apr 1 at 7:06 pm

    Property Features for 11525 138th Avenue

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    ,
    Standard status
    Active
    APN
    31370000001056200001.0
    Lot size
    29.63 Acres

    Taxes and HOA fees

    TaxYear
    2023
    TaxDescription
    FELLSMERE FARMS CO SUB PBS 2 1 & 2 TR 562, 563 & 564 LESS CANAL R/W'S AS DESC IN OR BK 904 PG 2646 (OR BK 904 PG 2702)
    TaxAnnualAmount
    982

    Utilities

    Water source
    Well
    Water front features
    Canal Access
    Water front
    1

    We can help!

    Listing Contact
    Donna Marie Miller
    Donna Marie Miller

    Listing agent Donna Marie Miller License #0521021

    Listing office RE/MAX Crown Realty 1603 US Hwy 1, Sebastian, FL

    Listing date Nov 28, 2025

    MLS# 293047

    Copyright © 2026 Realtors Association of Indian River County. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Fellsmere Land Parcel For Sale

    This 29.63-acre parcel located in Fellsmere, FL, is divided into 10-acre sections, each fenced separately. The property can be subdivided and sold individually. It is suitable for building a home, raising cattle, or keeping horses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Fellsmere
    County
    Indian River
    State
    Florida
    Longitude
    -80.610622
    Latitude
    27.805688

    Nearby Similar for Sale

    • $335,000
      217,800 SF

      Fellsmere Fenced Acreage with Barn

      5-acre fenced property with barn, stalls, pond, and utilities.
      12330 81st Street, Fellsmere, FL 32948
      View Details
    • $439,000

      Prime Commercial Land Opportunity

      2.52-acre commercial property with high-visibility frontage near I-95.
      TBD 512 ROAD, FELLSMERE, FL 32948
      View Details
    • $439,000

      Fellsmere Commercial Land Opportunity

      2.52-acre commercial property with high-visibility frontage near I-95.
      TBD TBD 512, FELLSMERE, FL 32948
      View Details
    • $439,000

      Prime Commercial Land Opportunity

      2.52-acre commercial property with high visibility and easy access.
      TBD 512, FELLSMERE, FL 32948
      View Details
    • $665,000

      Fellsmere, FL Land Opportunity

      Land for sale in Fellsmere redevelopment district.
      13765 99th Street, Fellsmere, FL 32948
      View Details
    • $450,000

      Fellsmere Commercial Land For Sale

      Two commercial properties sold together in Fellsmere, Florida.
      1 N Hickory Street, Fellsmere, FL 32948
      View Details
    • $300,000
      435,600 SF

      Cleared 10-Acre Fenced Land

      10-acre property in Fellsmere, FL, cleared, filled, and fenced.
      TBD COUNTY RD 512, FELLSMERE, FL 32948
      View Details
    • $199,900

      Fellsmere Land in Redevelopment District

      0.40-acre property in the heart of the city.
      6 S Cypress Street, Fellsmere, FL 32948
      View Details
    • $120,500

      Commercial Lots in Fellsmere, FL

      Commercial lots ready for development in Fellsmere, Florida.
      118 N Broadway Street, Fellsmere, FL 32948
      View Details
    • $1,131,300

      Fellsmere Land Subdivision Potential

      Land with subdivision potential in a desirable Fellsmere location.
      15355 117th Street, Fellsmere, FL 32948
      View Details
    • $350,000

      Fellsmere Land Near Stick Marsh

      10 acres near Stick Marsh, suitable for farming or storage.
      122nd Street, Fellsmere, FL 32948
      View Details
    • $350,000

      Fellsmere Land Opportunity

      10-acre property suitable for building, cattle, or agriculture.
      122 Street, Fellsmere, FL 32948
      View Details

    FAQs

    What type of property is this?
    Land - 29.63-acre parcel, fenced, suitable for building or agriculture.
    Where is this land located?
    The property is located at 11525 138th Avenue Fellsmere, FL.
    What is the asking price?
    The asking price for this property is $1,399,900.
    What are key features of this property?
    This property features: 29.63‑acre parcel ideal for building a dream home or agricultural pursuits.; Subdividable into 10‑acre sections for resale.; Each 10‑acre section is separately fenced.
    (772) 571-0777
    We can help!
    Listing Contact
    Donna Marie Miller
    Donna Marie Miller
    Real Estate License ID: 0521021
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!