Concrete Block
For Sale
$800,000
2653 NE Palm Avenue, Jensen Beach, FL 34957
The warehouse stands among residential homes in Jensen Beach.
Property Size4,092 SF
Days on Market98
Property Features for 2653 NE Palm Avenue
General Information
Standard status
Active
Size
4,092 SF
Property subtype
Industrial
Additional Details
Opportunity Zone
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$4,500
Building Details
Building Size
4,092 SF
Year Built
1958
Construction
concrete block
Listing Agency:
Illustrated Properties LLC / S
Listed By:
Stephen M. Dutcher · License #393825
(772) 419-0402
Source:
Meyerlucas
Added: Jun 22
Changed: Sep 26
Last Checked: Sep 26 at 3:05PM
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 Illustrated Properties LLC / S
Investment Insights
Based on property information with market context.
This 1958 warehouse has concrete block construction. Residential homes surround the property in Jensen Beach, and the site is within an opportunity zone.
The property is just off Indian River Drive, between Rio and Jensen.
The property is just off Indian River Drive, between Rio and Jensen.
Key Highlights
- Concrete block warehouse
- Built in 1958
- Located within an opportunity zone
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
$66,194
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
8.27%
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%
$1,323,880
$1.3M
Cap Rate 7%
$945,629
$945.6K
Cap Rate 9%
$735,489
$735.5K
Market Conditions
NOI Build-Up for 4,092 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
$82.5K $20.16/SF
− Vacancy
−$4.6K −$1.13/SF
EGI
$77.9K $19.03/SF
− OpEx
−$11.7K −$2.85/SF
NOI
$66.2K $16.18/SF
Area
Martin County, FL
Vacancy
5.60%
Lease Rate
$20.16 /SF/Yr
Expense Ratio
15.00%
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%
$1,323,880
Cap Rate 7%
$945,629
Cap Rate 9%
$735,489
Alternative Uses
Best Use
Warehouse
$945.6K
$827.4K – $1.10M
NOI $66,194 @ 7.0% cap · market cap 8.27%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$1.08M
$940.6K – $1.25M
NOI $75,251 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
412
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34957, FL
22,955
Population
17,269
Households
1.3
Avg Household Size
59
Median Age
39%
College-Educated
94%
High-School Grad
16.4 sq mi
ZIP Area
1,400
Density / Sq Mi
$65,658
Median Household Income
$41,973
Median Earnings
$1,518
Median Rent
$378,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Similar Off Market Nearby
- HAWKHEAD PLAZA — 1300-1344 NE Jensen Beach Blvd, Jensen Beach, FL 34957
- Southern Star Self Storage — 3250 NE Candice Ave, Jensen Beach, FL 34957
Frequently Asked Questions
What type of property is this?
Warehouse - The warehouse stands among residential homes in Jensen Beach.
Where is this warehouse located?
The property is located at 2653 NE Palm Avenue Jensen Beach, FL.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Concrete block warehouse; Built in 1958; Located within an opportunity zone
