Leased Multifamily Condominium
For Sale
$2,530,000
3817 NW Mediterranean Ln, Jensen Beach, FL 34957
Fully leased portfolio of ten individually deeded condominium residences with a diversified unit mix.
Property Size9,970 SF
Days on Market93
Property Features for 3817 NW Mediterranean Ln
General Information
Standard status
Active
Size
9,970 SF
Class
C
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
10
Building Details
Building Size
9,970 SF
Year Built
2001
Units
10
Tenancy
Multi
Listing Agency:
Illustrated Properties
Listed By:
Troy Maleyko · License #3583569
(561) 626-7000
Source:
Commercialcafe
Added: Jul 17
Changed: Oct 14
Last Checked: Oct 16 at 6:21AM
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 Illustrated Properties
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Investment Insights
Based on property information with market context.
This for-sale multifamily condominium portfolio includes ten individually deeded residential units within the Portofino community. The unit mix consists of four 1-bedroom / 1-bath residences, four 2-bedroom / 2-bath residences, and two 3-bedroom / 2-bath residences. Each residence is individually titled, providing the option to hold the full portfolio for long-term income or sell units individually over time. All ten units are currently leased, creating in-place occupancy.
The property is described as conveniently located near major regional routes and area amenities, including US-1, I-95, the Florida Turnpike, shopping, dining, healthcare, beaches, and major employment centers serving the Treasure Coast.
The community is noted for lake, preserve, and community views, along with professionally maintained landscaping and amenities.
The property is described as conveniently located near major regional routes and area amenities, including US-1, I-95, the Florida Turnpike, shopping, dining, healthcare, beaches, and major employment centers serving the Treasure Coast.
The community is noted for lake, preserve, and community views, along with professionally maintained landscaping and amenities.
Key Highlights
- Fully leased multifamily condominium portfolio with 10 individually deeded residential units
- Diversified unit mix: four 1 bed/1 bath, four 2 bed/2 bath, and two 3 bed/2 bath units
- Built in 2001
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$121,689
Cap Rate
4.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,433,780
$2.4M
Cap Rate 7%
$1,738,414
$1.7M
Cap Rate 9%
$1,352,100
$1.4M
Market Conditions
NOI Build-Up for 9,970 SF
Gross rent
$236.9K $23.76/SF
− Vacancy
−$15.6K −$1.57/SF
EGI
$221.3K $22.19/SF
− OpEx
−$99.6K −$9.99/SF
NOI
$121.7K $12.21/SF
Area
Martin County, FL
Vacancy
6.60%
Lease Rate
$23.76 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,433,780
Cap Rate 7%
$1,738,414
Cap Rate 9%
$1,352,100
Alternative Uses
Best Use
Apartment 5plus
$1.74M
$1.52M – $2.03M
NOI $121,689 @ 7.0% cap · market cap 4.81%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$2.62M
$2.29M – $3.06M
NOI $183,345 @ 7.0% cap · market cap 7.25%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
10
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
630
Businesses Nearby
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully leased portfolio of ten individually deeded condominium residences with a diversified unit mix.
Where is this apartment building located?
The property is located at 3817 NW Mediterranean Ln Jensen Beach, FL.
What is the asking price?
The asking price for this property is $2,530,000.
What are key features of this property?
This property features: Fully leased multifamily condominium portfolio with 10 individually deeded residential units; Diversified unit mix: four 1 bed/1 bath, four 2 bed/2 bath, and two 3 bed/2 bath units; Built in 2001
