Resort Lot with Tiki
For Sale
$329,000
485 Northwest Boundary Drive, Port St Lucie, FL 34986
Move-in-ready lot with professionally installed brick pavers and a fully equipped tiki pavilion with kitchen and bar area.
Property Size3,060 SF
Price / SF$107.52
Days on Market266
Property Features for 485 Northwest Boundary Drive
General Information
Standard status
Active
Size
3,060 SF
Property subtype
Land
Taxes and HOA fees
Annual Taxes
$6,102
Listing Agency:
Florida Living Realty
Listed By:
Doreen Judge · License #3060462
(904) 910-5594
Source:
Compass
Added: Dec 16, 2025
Changed: Sep 8
Last Checked: Sep 8 at 6:19AM
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 Florida Living Realty
Investment Insights
Based on property information with market context.
This move-in-ready lot is designed for a resort-style outdoor setup, featuring professionally installed 4x7 brick pavers in a classic herringbone pattern. The property includes a spacious tiki pavilion with a fully equipped kitchen and granite countertops, plus a cooktop, sink, wine chiller, beverage refrigerator, and bar area for entertaining. Additional features include custom eisenglass curtains, built-in heaters, mounted fans, accent lighting, and upgraded furnishings intended for year-round use.
The lot is positioned with views of the golf course and lake, with an outlook toward lighted fountains. A satellite pool is listed as being conveniently located.
From a configuration standpoint, the offering combines hardscape finishes with a dedicated covered outdoor gathering area and service-ready amenities, supporting ready-to-enjoy use immediately after purchase.
The lot is positioned with views of the golf course and lake, with an outlook toward lighted fountains. A satellite pool is listed as being conveniently located.
From a configuration standpoint, the offering combines hardscape finishes with a dedicated covered outdoor gathering area and service-ready amenities, supporting ready-to-enjoy use immediately after purchase.
Key Highlights
- Move‑in‑ready lot with professionally installed 4x7 brick pavers in a classic herringbone pattern
- Fully equipped tiki pavilion with kitchen, granite countertops, cooktop, sink, and bar area
- Includes wine chiller and beverage refrigerator for entertaining
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
$16,884
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
5.13%
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%
$337,680
$337.7K
Cap Rate 7%
$241,200
$241.2K
Cap Rate 9%
$187,600
$187.6K
Market Conditions
NOI Build-Up for 3,060 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
$40.4K $13.20/SF
− Vacancy
−$4.8K −$1.58/SF
EGI
$35.5K $11.62/SF
− OpEx
−$18.7K −$6.10/SF
NOI
$16.9K $5.52/SF
Area
St. Lucie County, FL
Vacancy
12.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
52.50%
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%
$337,680
Cap Rate 7%
$241,200
Cap Rate 9%
$187,600
Alternative Uses
Best Use
Hotel Hospitality
$241.2K
$211.1K – $281.4K
NOI $16,884 @ 7.0% cap · market cap 5.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$769.5K
$673.4K – $897.8K
NOI $53,868 @ 7.0% cap · market cap 16.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
413
Businesses Nearby
Explore this area
Business Placement
Demographics for 34986, FL
30,027
Population
14,600
Households
2.1
Avg Household Size
56
Median Age
35%
College-Educated
92%
High-School Grad
18.8 sq mi
ZIP Area
1,597
Density / Sq Mi
$85,842
Median Household Income
$44,182
Median Earnings
$1,600
Median Rent
$368,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Resort - Move-in-ready lot with professionally installed brick pavers and a fully equipped tiki pavilion with kitchen and bar area.
Where is this resort located?
The property is located at 485 Northwest Boundary Drive Port St Lucie, FL.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: Move‑in‑ready lot with professionally installed 4x7 brick pavers in a classic herringbone pattern; Fully equipped tiki pavilion with kitchen, granite countertops, cooktop, sink, and bar area; Includes wine chiller and beverage refrigerator for entertaining
