Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    2108 Okeechobee Rd Fort Pierce, FL 34950

    • Commercial real estate
    • 742 SF
    For Sale
    View listing
    $1,200,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US19-0467526
    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

    • Commercial real estate

    Property Details for 2108 Okeechobee Rd

    Year built
    1947
    Property size
    742 SF
    Property type
    Commercial real estate

    Description

    This exceptional mixed-use investment opportunity in Fort Pierce, Florida, presents a compelling proposition for savvy investors. Priced at $1,200,000, the property encompasses a substantial 1.16 acres, including two parcels: 2108 Okeechobee Road and 711 S. 21st Street. The Okeechobee Road parcel features a 742 square foot building with four units, built in 1947, and offers 255 feet of road frontage for optimal visibility. The existing structure is easily demolished, allowing for complete redevelopment according to the buyer's vision. The 711 S. 21st Street parcel includes three additional buildings, generating rental income. The combined property boasts General Commercial zoning, permitting a wide array of uses, including medical and dental clinics, restaurants, religious institutions, marine sales, contractor services, and more. Its proximity to major interstates (within 3 miles) ensures excellent accessibility and high traffic volume. The seller is open to owner financing, making this an attractive opportunity for those seeking flexible payment options. This is a rare chance to acquire a significant property with substantial development potential in a thriving Florida market. Don't miss this chance to secure a high-return investment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Pierce
    County
    St. Lucie
    State
    Florida
    Longitude
    -80.3460041
    Latitude
    27.4406677

    Comparable in this City

    • $4,995,000

      Downtown Fort Pierce Corner Building

      Two-story building on 1.9 acres in thriving downtown corridor.
      300 S 6Th St, Fort Pierce, FL 34950
      View Details
    • $5,000,000
      1.90 Acres

      Waterfront Mixed-Use Development Opportunity

      Shovel-ready, fully entitled luxury mixed-use project in downtown Fort Pierce.
      401 S Indian River Dr, Fort Pierce, FL 34950
      View Details
    • $1,595,000

      Mixed-Use Building in Historic District

      Multi-use building with apartments and offices in historic Ft. Pierce.
      117 N 5Th St, Fort Pierce, FL 34950
      View Details
    • $70,000
      0.12 Acres

      Fort Pierce Commercial Land

      Prime Downtown Location, High Visibility
      604 6Th St, Fort Pierce, FL 34950
      View Details
    • $2,590,000

      Fort Pierce Warehouse Investment Opportunity

      Prime Industrial Warehouse, 27 Units
      1921 Ave D Ave, Fort Pierce, FL 34950
      View Details
    • Contact for pricing

      Freestanding Retail Building with Parking

      Retail store with high ceilings, parking, and flexible zoning.
      725 S Us Highway 1, Fort Pierce, FL 34950
      View Details

    Similar Nearby for Sale

    • $4,995,000

      Downtown Fort Pierce Corner Building

      Two-story building on 1.9 acres in thriving downtown corridor.
      300 S 6Th St, Fort Pierce, FL 34950
      View Details
    • $1,595,000

      Mixed-Use Building in Historic District

      Multi-use building with apartments and offices in historic Ft. Pierce.
      117 N 5Th St, Fort Pierce, FL 34950
      View Details
    • $5,000,000
      1.90 Acres

      Waterfront Mixed-Use Development Opportunity

      Shovel-ready, fully entitled luxury mixed-use project in downtown Fort Pierce.
      401 S Indian River Dr, Fort Pierce, FL 34950
      View Details
    • $365,000

      Prime Fort Pierce Land - 0.48 Acres

      Cleared Land, Excellent Location, US1 Access
      534 5Th St, Fort Pierce, FL 34950
      View Details
    • $1,490,000
      11,661 SF

      Fort Pierce Commercial Property

      High-Traffic US1 Location, Multi-Tenant Income
      621 Us Highway 1, Fort Pierce, FL 34950
      View Details
    • Contact for pricing

      Multi-Story Building with Drive-Thru

      Multi-story building with drive-thru lanes on 1.83 acres.
      Fort Pierce, FL 34950
      View Details

    Similar Nearby for Lease

    • $2,050 /Mo

      Retail/Office Space Near Downtown

      Available retail/office space with high visibility near downtown.
      601 Orange Ave, Fort Pierce, FL 34950
      View Details
    • $12 SF/Yr
      10,000 SF

      Retail Space in Historic Downtown

      Prime retail spaces available in historic downtown Fort Pierce.
      0000 2Nd St, Fort Pierce, FL 34950
      View Details
    • $14 SF/Yr
      10,943 SF

      Fort Pierce Warehouse Complex

      Prime Office/Warehouse, 10,943 SF
      2007 Okeechobee Rd, Fort Pierce, FL 34950
      View Details
    • $22 SF/Yr
      8,204 SF

      Prime Fort Pierce Commercial Spaces

      Office and flex spaces available in historic downtown Fort Pierce.
      500 S Us Highway 1, Fort Pierce, FL 34950
      View Details
    • $16 SF/Yr
      10,544 SF

      Industrial Warehouse Near Downtown

      Warehouse space with fenced yard and street parking near US-1.
      519 Delaware Ave, Fort Pierce, FL 34950
      View Details
    • $1,500 /Mo

      Two Bedroom Duplex Unit

      Two-bedroom, one and a half bath duplex unit for rent.
      402 S 14Th St, Fort Pierce, FL 34950
      View Details
    Request Owner's contact information
    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.
    2108 Okeechobee Rd
    Fort Pierce, FL 34950
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    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
    Thank You

    You are Unsubscribed From Notifications

    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.