Turnkey Vacation Rental
2507 North Ocean Drive, Hutchinson Island, FL 34949
For Sale
$1,690,000
Fully turnkey income-producing vacation rental with established booking presence and proximity to Hutchinson Island beaches.
Property Size4,396 SF
Price / SF$384.44
Days on Market817
Property Features for 2507 North Ocean Drive
General Information
Standard status
Size
Property subtype
Additional Details
Business Included
Taxes and HOA fees
Annual Taxes
Amenities
Ceiling Fan(s), Central Individual, Electric
Central Individual
Tile
2
8
4
Deck, Patio, Porch
Block, Concrete
Metal
Quadruplex
Blinds
Bike Storage, Bocce Ball, Jogging Path, Storage, Trail(s)
Custom Lighting, Outdoor Shower
No
Yes
Paved
Porch, Patio, Deck, Porch - Open, Patio - Open
Building Details
Year Built
Stories
Listing Agency:
Compass
Listed By:
Holly Meyer Lucas · License #3321238
(561) 631-0920
Source:
Compass
Added: Aug 13, 2024
Changed: Nov 5
Last Checked: Nov 6 at 11:15AM
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
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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 / Yr
$59,937
Cap Rate
3.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,198,740
$1.2M
Cap Rate 7%
$856,243
$856.2K
Cap Rate 9%
$665,967
$666.0K
Market Conditions
NOI Build-Up for 4,396 SF
Gross rent
$114.5K $26.04/SF
− Vacancy
−$5.5K −$1.25/SF
EGI
$109.0K $24.79/SF
− OpEx
−$49.0K −$11.16/SF
NOI
$59.9K $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 Rate 5%
$1,198,740
Cap Rate 7%
$856,243
Cap Rate 9%
$665,967
Alternative Uses
Best Use
Apartment 5plus
$856.2K
$749.2K – $999.0K
NOI $59,937 @ 7.0% cap · market cap 3.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$967.3K – $1.29M
NOI $77,387 @ 7.0% cap · market cap 4.58%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
65
Businesses Nearby
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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
$427,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Short term rental properties in St. Lucie County, FL
Properties on Market for Short term rental properties in St. Lucie County
Vacancy Rate% for Multifamily in South region
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 North Ocean Drive Hutchinson Island, FL.
What is the asking price?
The asking price for this property is $1,690,000.
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
