Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    3000 Okeechobee Rd Fort Pierce, FL 34947

    For Sale
    $2,500,000

    Prime Multifamily Investment: Approved Site Plan

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional investment opportunity presents a fully approved site plan for the construction of a 112-unit apartment complex in Fort Pierce, Florida. Located on a 6.87-acre lot with 516 feet of frontage on Okeechobee Road, this Class A multifamily property offers a compelling 6.00% cap rate and is priced at $2,500,000 ($22,321.43 per unit). The property boasts a fee simple ownership structure and is suitable for a 1031 exchange. Its strategic location provides easy access to major transportation arteries, including I-95 and the Turnpike, situated just 3 miles away. Furthermore, the property enjoys proximity to St. Lucie County's research park, city, county, and federal government buildings (less than 2 miles), the beautiful marinas of the Indian River Lagoon (2.5 miles), vibrant downtown Fort Pierce, and the beaches of Hutchinson Island (4 miles). The permitted zoning allows for both multifamily and commercial uses, presenting significant potential for future development and expansion. This stabilized investment is ideal for builders and investors seeking a high-return opportunity in a rapidly growing market. The property's location within a thriving area experiencing significant population growth makes it an attractive proposition for long-term investment and rental income generation. The APN is 241750400200016.

    Property Features for 3000 Okeechobee Rd

    General Information

    Property type
    Multifamily properties
    Class
    A
    Lot Size
    299,257 SF

    Building Details

    Units
    112

    HighLights

    • Approved site plan for a 112‑unit apartment complex in Fort Pierce, FL.
    • 6.87‑acre lot with 516 feet of frontage on Okeechobee Road; $2,500,000 price ($22,321.43 per unit), 6.00% cap rate.
    • Fee simple ownership, suitable for 1031 exchange.
    • Excellent location: 3 miles from I‑95 and Turnpike, near St. Lucie County research park, government buildings, marinas, downtown Fort Pierce, and Hutchinson Island beaches.
    • Multifamily and commercial zoning allows for future expansion.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Pierce
    County
    St Lucie
    State
    Florida
    Longitude
    -80.3556091
    Latitude
    27.4343122

    Nearby Similar for Sale

    • $1,950,000
      3,836 SF

      Renovated Multifamily Asset Near Ocean

      Fully renovated four-unit multifamily property near the Atlantic Ocean.
      741 Hernando St, Fort Pierce, FL 34949
      View Details
    • $259,000
      0.08 Acres

      Lake View Lot in Port

      Spectacular lot with lake view, tiki, and landscaping.
      462 NW Sandtrap Ln, Port St Lucie, FL 34986
      View Details
    • $269,000
      0.06 Acres

      Turnkey RV Lot with Tiki

      Move-in-ready RV lot with premium tiki and lake views.
      450 NW Sandtrap Ln, Port St Lucie, FL 34986
      View Details
    • $299,999
      1,692 SF

      Professional Office Space Near Downtown

      Well-maintained office space near downtown and the Indian River.
      212 S 7Th St, Fort Pierce, FL 34950
      View Details
    • New
      $125,000

      Profitable Jamaican Restaurant Opportunity

      Turn-key Jamaican restaurant for sale in Port St. Lucie.
      3453 SW Darwin Blvd, Port St Lucie, FL 34953
      View Details
    • $299,000
      0.06 Acres

      Stunning Lot with Waterfall View

      Exceptional lot near clubhouse with tiki, kitchen, and furnishings.
      274 NW Hazard Way, Port St Lucie, FL 34986
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Prime Multifamily Investment: Approved Site Plan
    Where is this multifamily property located?
    The property is located at 3000 Okeechobee Rd Fort Pierce, FL.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: Approved site plan for a 112-unit apartment complex in Fort Pierce, FL.; 6.87-acre lot with 516 feet of frontage on Okeechobee Road; $2,500,000 price ($22,321.43 per unit), 6.00% cap rate.; Fee simple ownership, suitable for 1031 exchange.
    Request Owner's contact information
    3000 Okeechobee Rd Fort Pierce, FL 34947
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3000 Okeechobee Rd
    Fort Pierce, FL 34947
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    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.

    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.

    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
    3000 Okeechobee Rd Fort Pierce, FL 34947
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.