Turnkey Vacation Rental
For Sale
Contact for pricing
2507 N Ocean Drive, Hutchinson Island, FL 34949
Fully turnkey income-producing vacation rental with established booking presence and proximity to Hutchinson Island beaches.
Property Size5,958 SF
Price / SF$292.04
Days on Market708
Property Features for 2507 N Ocean Drive
General Information
Standard status
Active
Size
5,958 SF
Property subtype
Multifamily
Additional Details
Business Included
Yes
Building Details
Year Built
1976
Listing Agency:
Compass FL LLC
(561) 309-2820
Listed By:
Kimberly Thomson · License #3188644
Source:
Crexi
Added: Aug 30, 2024
Changed: Jul 10
Last Checked: Aug 7 at 4:21AM
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 Compass FL LLC
Investment Insights
Based on property information with market context.
This fully turnkey vacation rental is presented as an investor-ready residential income property, currently operated as a short-term rental. The offering is described as generating NOI of over $92,000 annually, with the home positioned for continued use in a vacation rental format. It is currently marketed through Airbnb, VRBO, and Booking, and the remarks indicate strong booking demand with a loyal repeat guest base.
The property is located on North Hutchinson Island and set in a tranquil setting. It is described as a 5-minute walk to Hutchinson Island’s 10-mile stretch of beach, placing it within easy walking distance of the coastal experience that drives short-term stays.
For buyers seeking a turnkey residential income property, this home is offered as ready to operate in the short-term vacation rental market without requiring additional setup based on the information provided. The combination of established online booking channels and the stated proximity to a long stretch of beach may appeal to operators looking for a functioning, serviced rental property aligned with guest demand in this destination setting.
The property is located on North Hutchinson Island and set in a tranquil setting. It is described as a 5-minute walk to Hutchinson Island’s 10-mile stretch of beach, placing it within easy walking distance of the coastal experience that drives short-term stays.
For buyers seeking a turnkey residential income property, this home is offered as ready to operate in the short-term vacation rental market without requiring additional setup based on the information provided. The combination of established online booking channels and the stated proximity to a long stretch of beach may appeal to operators looking for a functioning, serviced rental property aligned with guest demand in this destination setting.
Key Highlights
- Year built: 1976 vacation rental home on North Hutchinson Island
- NOI over $92,000 annually (as stated in public remarks)
- Currently rented through major travel platforms including Airbnb, VRBO, and Booking
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
$81,235
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
4.67%
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%
$1,624,700
$1.6M
Cap Rate 7%
$1,160,500
$1.2M
Cap Rate 9%
$902,611
$902.6K
Market Conditions
NOI Build-Up for 5,958 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
$155.1K $26.04/SF
− Vacancy
−$7.4K −$1.25/SF
EGI
$147.7K $24.79/SF
− OpEx
−$66.5K −$11.16/SF
NOI
$81.2K $13.63/SF
Area
St. Lucie County, FL
Vacancy
4.80%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
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%
$1,624,700
Cap Rate 7%
$1,160,500
Cap Rate 9%
$902,611
Alternative Uses
Best Use
Apartment 5plus
$1.16M
$1.02M – $1.35M
NOI $81,235 @ 7.0% cap · market cap 4.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $104,885 @ 7.0% cap · market cap 6.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
65
Businesses Nearby
Explore this area
Business Placement
Demographics for 34949, FL
8,027
Population
8,033
Households
1
Avg Household Size
65
Median Age
47%
College-Educated
96%
High-School Grad
9.4 sq mi
ZIP Area
854
Density / Sq Mi
$92,188
Median Household Income
$37,219
Median Earnings
$1,484
Median Rent
$427,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Short term rental property - Fully turnkey income-producing vacation rental with established booking presence and proximity to Hutchinson Island beaches.
Where is this short term rental property located?
The property is located at 2507 N Ocean Drive Hutchinson Island, FL.
What is the asking price?
The asking price for this property is $1,740,000.
What are key features of this property?
This property features: Year built: 1976 vacation rental home on North Hutchinson Island; NOI over $92,000 annually (as stated in public remarks); Currently rented through major travel platforms including Airbnb, VRBO, and Booking
