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    Property profile & analytics

    615 Biltmore St Port Saint Lucie, FL 34983-1854

    • Industrial properties
    • 1,080 SF
    • 0.02 lot acres
    OFF-MARKET
    Value Estimations
    $235,000
    Show details
    Cap Rate Potential
    3.2%
    Industrial properties
    Location Intelligence
    Property ID
    US18-2941611
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Industrial properties

    Property Details for 615 Biltmore St

    Year built
    2006
    Construction
    CONCRETE BLOCKS
    Lot size
    0.02 lot acres
    Property size
    1,080 SF
    Zone code
    FI - PSL
    Property type
    Industrial properties
    APN
    3430-802-0007-000-1
    APU
    343080200070001

    Description

    This 1,080-square-foot flex space condo is ideally situated in the Biltmore Condominium Business Park in Port St. Lucie, Florida. Priced at $307,800, this property offers a versatile blend of office and warehouse space, perfect for a variety of businesses. The unit features a convenient overhead door, providing easy access for loading and unloading, and separate office areas for administrative functions. Its location offers excellent accessibility, with easy connections to major transportation arteries such as the Florida Turnpike and I-95, ensuring seamless commutes and efficient logistics. The property is classified as industrial and falls under the flex subtype, catering to businesses requiring a combination of office and warehouse functionality. The address is 615 SW Biltmore St, Port St. Lucie, FL 34983. This presents a compelling opportunity for businesses seeking a well-located, functional, and affordable space in a thriving business park. The property's strategic location and versatile layout make it an attractive investment for entrepreneurs and established businesses alike. The unit's combination of office and warehouse space provides flexibility for various operational needs. This turnkey solution eliminates the need for extensive renovations or build-outs, allowing businesses to focus on their core operations. The asking price represents a competitive value in the current market, making this an attractive proposition for those seeking a cost-effective and strategically located commercial property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $235,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $194,000
      Market price range: $95.9k - $251k
      AI Estimate
      $260,000
      Market price range: $142k - $323k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Port Saint Lucie
    County
    St. Lucie
    State
    Florida
    Longitude
    -80.3725
    Latitude
    27.314
    CBSA code
    38940
    CBSA name
    PORT ST. LUCIE-FORT PIERCE, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $3,108
    $0.00
    $172,800
    $172,800
    -
    $0.00
    $172,800
    $172,800

    Comparable in this City

    • Value Estimation
      $245,000
      725 SF

      892 Lakehurst Dr

      CONDOMINIUMS (INDUSTRIAL) • 725 SF
      892 Lakehurst Dr, Port Saint Lucie, FL 34983
      View Details
    • Value Estimation
      $3,545,000
      2,000 SF

      892 Lakehurst Dr

      CONDOMINIUMS (INDUSTRIAL) • 2,000 SF
      892 Lakehurst Dr, Port Saint Lucie, FL 34983
      View Details
    • Value Estimation
      $240,000
      1,200 SF

      1030 Biltmore St

      CONDOMINIUMS (INDUSTRIAL) • 1,200 SF
      1030 Biltmore St, Port Saint Lucie, FL 34983-2485
      View Details
    • Value Estimation
      $240,000
      1,128 SF

      1368 Biltmore St

      CONDOMINIUMS (INDUSTRIAL) • 1,128 SF
      1368 Biltmore St, Port Saint Lucie, FL 34983-2958
      View Details
    • Value Estimation
      $220,000
      1,100 SF

      656 Carter Ave

      CONDOMINIUMS (INDUSTRIAL) • 1,100 SF
      656 Carter Ave, Port Saint Lucie, FL 34983-2973
      View Details
    • Value Estimation
      $220,000
      1,100 SF

      662 Carter Ave

      CONDOMINIUMS (INDUSTRIAL) • 1,100 SF
      662 Carter Ave, Port Saint Lucie, FL 34983-2973
      View Details

    Similar Nearby for Sale

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    • $285,000
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      Flex Condo For Sale

      End unit flex condo available for immediate owner occupancy.
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      Midway Road Commercial Land

      Prime 4.9-acre commercial site in Port St. Lucie, FL
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    Similar Nearby for Lease

    • $16 SF/Yr
      1,187 SF

      Port St. Lucie Warehouse Space

      Industrial warehouse space available for lease in Port St. Lucie.
      886 SW Biltmore St, Port Saint Lucie, FL 34983
      View Details
    • $15 SF/Yr
      10,000 SF

      Drive-Through Parking Lot For Rent

      Convenient parking lot with drive-through access in central industrial park.
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      View Details
    • $18 SF/Yr
      1,500 SF

      Warehouse Units with Easy Access

      Warehouse units with tall ceilings, roll-up doors, and ample parking.
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      View Details
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    Port Saint Lucie, FL 34983-1854
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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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