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    38 SE Ocean Boulevard Stuart, FL 34994

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    For Lease
    $2,900 /Mo

    COMMERCIAL - Stuart, FL

    Type:Retail
    Added:
    Sep 16, 2025
    Days on Market:
    227
    Last Refresh:
    Apr 30 at 2:06 am

    Property Features for 38 SE Ocean Boulevard

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Parking features
    On Street
    Exterior features
    Landscaping
    Standard status
    Active
    APN
    043841010000000102

    Taxes and HOA fees

    Tax Year
    2019
    Tax Description
    Lainhart & Potter, Part of Lots A & B Desc as: Beg 10.76 NW of Inter of S/Ln Lot B & W R/W Flagler, NWLY ALG R/W 42.47
    Tax Annual Amount
    19200

    Utilities

    Heating system
    Electric (Heating), Central
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    1948
    Floors in Building
    1
    Building materials
    Block, Concrete

    We can help!

    Listing Contact
    Stephen Dutcher
    Stephen Dutcher

    Listing agent Stephen Dutcher License #393825

    Listing office Illustrated Properties LLC / S 3601 SE Ocean Blvd, No. 101, PALM BEACH GADENS, FL

    Listing date Sep 16, 2025

    MLS# M20052244

    Copyright © 2026 Martin County REALTORS® of the Treasure Coast, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Retail/Office Space in Downtown Stuart

    This property offers 1236 square feet of retail or office space in downtown Stuart, Florida, adjacent to Confusion Corner. It benefits from high exposure on East Ocean Boulevard. The location is next to Broadway Bagels & Deli and on the same side of the street as the county courthouse. The property is within walking distance of downtown Stuart's restaurants and shopping. A city parking lot, downtown trolley stop, and electric car charging station are a short walk away. Street parking is available directly in front of the building. A retail user is preferred, but office use is acceptable. The property is located near Brightline, offering convenient access.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    R.K. Hansen Construction ... Construction Company Absolute ink tattoo ... Tattoo & Piercing Shop

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Stuart
    County
    Martin
    State
    Florida
    Longitude
    -80.25168
    Latitude
    27.197677

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    FAQs

    What type of property is this?
    Retail space - Retail or office space with high exposure in downtown Stuart.
    Where is this retail space located?
    The property is located at 38 SE Ocean Boulevard Stuart, FL.
    What is the lease rate?
    The lease rate is $2,900 /Mo.
    What are key features of this property?
    This property features: Prime downtown Stuart location with high visibility on East Ocean Avenue.; Adjacent to established business (Broadway Bagels & Deli) and near the county courthouse.; Walking distance to downtown Stuart's restaurants and shopping.
    (772) 419-0402
    We can help!
    Listing Contact
    Stephen Dutcher
    Stephen Dutcher
    Real Estate License ID: 393825
    Learn More
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    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
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