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

    5028 Watersong Way Fort Pierce, FL 34939

    View on Map
    Claim this Listing
    For Sale
    $870,000

    Residential - Fort Pierce, FL

    Lot size:
    0.12 Acres
    Added:
    Mar 31, 2026
    Days on Market:
    21
    Last Refresh:
    Apr 20 at 10:06 am

    Property Features for 5028 Watersong Way

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Planned
    Standard status
    Active
    APN
    253250000850004
    Lot size
    0.12 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    7424

    Utilities

    Water source
    Public
    Water front features
    Ocean Access, Ocean Front, Waterfront
    Water front
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Burton Wilkins III

    Listing agent Burton Wilkins III License #3358691

    Listing office One Sotheby's International Realty 119 Washington Ave, FL

    Listing date Mar 31, 2026

    MLS# A11991867 Listing URL

    Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Oceanfront Lot in Fort Pierce

    This 0.12-acre (5227 SQFT) oceanfront lot presents a rare opportunity to build a custom home with views of the ocean and intracoastal waterway. Located on the south end of a private community on Hutchinson Island, the property offers potential for spectacular sunrises and sunsets, as well as beach access. The community provides amenities such as a beachfront pool and cabana. The location allows convenient access to shopping, dining, and entertainment options in Fort Pierce, Florida. The property is zoned as planned.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Parking Lot & Garage Real Estate Agency Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fort Pierce
    County
    St. Lucie
    State
    Florida
    Longitude
    -80.2590285
    Latitude
    27.3879042

    Nearby Similar for Sale

    • $550,000
      4,805 SF

      Freestanding Office Space in Fort Pierce

      4,691 SF+/- freestanding office building suitable for diverse businesses.
      706 N 7th Street, Fort Pierce, FL
      View Details
    • $3,299,000
      14,224 SF

      Fort Pierce Industrial Property

      Equipped industrial property with office, warehouse, and shop space.
      16050 Orange Avenue, Fort Pierce, FL
      View Details
    • $549,500

      Prime Commercial/Industrial Land Opportunity

      1.16-acre site ready for commercial or industrial development.
      3112 OLEANDER AVENUE, FORT PIERCE, FL 34982
      View Details
    • $485,000

      Prime Commercial Site Near US 1

      Riverview commercial land near US 1 and A-1-A Causeway.
      1988 N US HWY 1, FORT PIERCE, FL 34946
      View Details
    • $320,000

      Prime US1 Development Site

      2.14-acre dual-zoned land ideal for various commercial uses.
      0 N US HWY 1, FORT PIERCE, FL 34946
      View Details
    • $549,000

      Waterfront Development Site on Midway Road

      2.1-acre waterfront development site on the Midway Road corridor.
      2083 W MIDWAY ROAD, FORT PIERCE, FL 34981
      View Details
    • $359,000
      1,293 SF

      Fort Pierce Industrial Business Opportunity

      Industrial property with home, garage, and road frontages for sale.
      4305 Metzger Road, Fort Pierce, FL 34947
      View Details
    • $399,900
      1,764 SF

      Fort Pierce Commercial Property on Orange

      Commercial property with frontage on Orange Avenue in Fort Pierce.
      2007 Orange Avenue, Fort Pierce, FL 34950
      View Details
    • $995,000
      2,524 SF

      Renovated Duplex Near South Beach

      Income-generating duplex with potential for expansion or redevelopment.
      711 S Ocean Drive, Fort Pierce, FL 34949
      View Details
    • $740,000
      3,480 SF

      Income-Producing Duplex in Fort Pierce

      Income-producing duplex with industrial zoning and future potential.
      2856 Harson Way, Fort Pierce, FL 34946
      View Details
    • $345,000

      US1 Development Site in Fort Pierce

      High-visibility commercial land ideal for various business uses.
      3381 N OLD DIXIE HWY, FORT PIERCE, FL 34946
      View Details
    • $725,000

      New Industrial Warehouse Near Airport

      New 3,000+/- SF warehouse near Treasure Coast International Airport.
      2933 Harson Way, Fort Pierce, FL 34946
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Oceanfront lot to build your dream home with ocean views.
    Where is this residential land & home lot located?
    The property is located at 5028 Watersong Way Fort Pierce, FL.
    What is the asking price?
    The asking price for this property is $870,000.
    What are key features of this property?
    This property features: Oceanfront lot (40' x 131') offering direct ocean access and stunning views.; Ideal location on the desirable south‑end of a private community on Hutchinson Island.; Perfect canvas to build a custom dream home.
    (305) 538-9711
    We can help!
    Listing Contact
    Burton Wilkins III
    Real Estate License ID: 3358691
    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!