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    Ocean Dr Fort Pierce, FL 34949

    • Land
    • 17.00 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Ocean Dr

    Lot size
    17.00 lot acres
    Property type
    Land

    Description

    This exceptional 17-acre commercial land parcel presents a unique investment opportunity on Hutchinson Island, Florida. Located on Ocean Drive in St. Lucie County, zip code 34949, this property boasts both oceanfront and Intracoastal Waterway access. The land is zoned HIRD and straddles A1A, offering unparalleled visibility and accessibility. The idyllic setting combines pristine beaches and picturesque waterfront views with the convenience of nearby dining, entertainment, and recreational facilities in the vibrant Port Saint Lucie market. This location provides an exceptional lifestyle backdrop, attracting residents and visitors alike. The property's prime coastal location makes it ideal for a variety of commercial developments, capitalizing on the high demand for waterfront living in this desirable area. Investors will appreciate the potential for significant returns in this thriving market, given the unique combination of location, size, and zoning. The property's latitude is 27.4836024 and longitude is -80.2963408. This is a rare opportunity to acquire a substantial piece of waterfront commercial land in a highly sought-after location.

    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
    -80.2963
    Latitude
    27.4836

    Comparable in this City

    • Value Estimation by Request

      4905 Watersong Way

      Land
      4905 Watersong Way, Fort Pierce, FL 34949
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      3.62 Acres

      Jack Island Access Rd

      Land • 3.62 Acres
      0 Jack Island Access Rd, Fort Pierce, FL 34949
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    • Value Estimation by Request

      2528 Ocean Dr

      Land
      2528 Ocean Dr, Fort Pierce, FL 34949
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    • Value Estimation by Request
      6.88 Acres

      901-1001 Ocean Dr

      Land • 6.88 Acres
      901-1001 Ocean Dr, Fort Pierce, FL 34949
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    • Value Estimation by Request
      64,904.00 Acres

      104 Ocean Estates Dr

      Land • 64,904.00 Acres
      104 Ocean Estates Dr, Fort Pierce, FL 34949
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    • Value Estimation by Request

      4570 Ocean Dr

      Land
      4570 Ocean Dr, Fort Pierce, FL 34949
      View Details

    Similar Nearby for Sale

    • $50,000,000

      Hutchinson Island Land For Sale

      Hutchinson Island land available for development.
      2600 Highway A1A N, Hutchinson Island, FL 34949
      View Details
    • Contact for pricing
      0.90 Acres

      Fort Pierce Corner Lot: Build-to-Suit

      Prime .9-acre mixed-use corner lot. High visibility, beach access.
      801 Seaway Dr, Fort Pierce, FL 34949
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    • $4,900,000
      64,904.00 Acres

      Avalon Beach Land Development

      14 Lots, Oceanfront Paradise, Florida
      104 Ocean Estates Dr, Fort Pierce, FL 34949
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    • $4,450,000
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      Oceanfront Multifamily Development Site

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    • $12,000,000

      Oceanfront Land: Hutchinson Island

      10+ Acres, Prime Residential Development
      4570 Ocean Dr, Fort Pierce, FL 34949
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    • $1,340,000

      Commercial Lots in St. Lucie

      Four commercial lots totaling ±16.49 acres in Port St. Lucie.
      Brandywine Ln, Port Saint Lucie, FL 34949
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    Similar Nearby for Lease

    • $1,200 /Mo
      4,500 SF

      Ocean View Office Suite

      Second-floor office suite with ocean views available for lease.
      221 S Ocean Dr, Fort Pierce, FL 34949
      View Details
    • $25 SF/Yr
      1,000 SF

      South Beach Retail Space For Lease

      Prime location, 1,000 sq ft, former bank.
      1100 Colonnades Dr, Fort Pierce, FL 34949
      View Details
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    Ocean Dr
    Fort Pierce, FL 34949
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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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