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    Property profile & analytics

    10978 Ocean Dr Jensen Beach, FL 34957-2611

    • Hotels
    • 63,247 SF
    • 2.69 lot acres
    OFF-MARKET
    Value Estimations
    $5,405,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0441917
    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

    • The Lucie / Hotel & Motel

    Property Details for 10978 Ocean Dr

    Year built
    1986
    Construction
    CONCRETE BLOCKS
    Lot size
    2.69 lot acres
    Property size
    63,247 SF
    Zone code
    HUTCH ISLA
    Property type
    Hotels
    Property subtype
    Motels
    APN
    4512-331-0002-020-1
    APU
    451233100020201

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,815,000
      6.5%
      $5,370,000
      7%
      $4,985,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $5,439,000
      Market price range: $1.18M - $8.18M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $3,915,000
      Current use
      RESTAURANT
      $8,865,000
      Change: +126% Conversion: Difficult
      RETAIL STORES
      $7,340,000
      Change: +88% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Jensen Beach
    County
    St. Lucie
    State
    Florida
    Longitude
    -80.2014
    Latitude
    27.2651
    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
    $267,697
    $2,341,500
    $16,234,600
    $18,576,100
    -
    $2,341,500
    $16,234,600
    $18,576,100

    Comparable in this City

    • Value Estimation by Request
      0.99 Acres

      3650 Indian River Dr

      Hotels • 0.99 Acres
      3650 Indian River Dr, Jensen Beach, FL 34957
      View Details
    • Value Estimation by Request
      0.11 Acres

      Indian Riv Dr

      VACANT COMMERCIAL LAND • 0.11 Acres
      Indian Riv Dr, Jensen Beach, FL 34957
      View Details
    • Value Estimation by Request
      1,622 SF

      1225 Charlotte St

      MOBILE HOME PARK, TRAILER PARK • 1,622 SF
      1225 Charlotte St, Jensen Beach, FL 34957-5626
      View Details
    • Value Estimation
      $735,000
      4,954 SF

      3546 Federal Hwy

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,954 SF
      3546 Federal Hwy, Jensen Beach, FL 34957-4424
      View Details
    • Value Estimation by Request
      504 SF

      347 Gdn Vw

      MOBILE HOME PARK, TRAILER PARK • 504 SF
      347 Gdn Vw, Jensen Beach, FL 34957-5318
      View Details
    • Value Estimation
      $5,445,000
      24,916 SF

      1960 Jensen Bch Blvd

      OFFICE (GENERAL) • 24,916 SF
      1960 Jensen Bch Blvd, Jensen Beach, FL 34957-7280
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,603 SF

      Furnished Inn Business Opportunity

      Furnished 5-bedroom inn for rent in Jensen Beach, FL.
      3350 NE Indian River Dr, Jensen Beach, FL 34957
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    • $158,000
      0.05 Acres

      Corner RV Lot in Holiday Out

      Spacious corner RV lot with private beach access and amenities.
      10725 S Ocean Dr, Jensen Beach, FL 34957
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    • $1,500,000
      2,396 SF

      Prime Waterfront Restaurant & Land

      Jensen Beach eatery, 2396 sq ft, great potential.
      0 Indian River Dr, Fort Pierce, FL 34957
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    • $899,900
      0.32 Acres

      Income Property Near Jensen Beach

      Income-producing property with 6 rentable units near Downtown Jensen Beach.
      2172 NE Poinciana Ter, Jensen Beach, FL 34957
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    • $2,100,000
      6,548 SF

      Jensen Beach Restaurant - Net Lease

      High-return restaurant investment, Florida.
      4050 Federal Hwy, Jensen Beach, FL 34957
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    • $199,000
      2.13 Acres

      3359 Main Ave

      Retail properties & Spaces • 2.13 Acres
      3359 Main Ave, Jensen Beach, FL 34957
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    Similar Nearby for Lease

    • $1,200 /Mo

      Waterfront RV Lot in Jensen

      Paved RV lot with dock access in Windmill Village.
      10851 S Ocean Dr, Jensen Beach, FL 34957
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    • Contact for pricing
      43,511 SF

      Retail Center in Martin County

      Retail space in a power center near Treasure Coast Mall.
      3001-3101 NW Federal Hwy, Jensen Beach, FL 34957
      View Details
    • $35 SF/Yr
      23,665 SF

      Jensen Beach Retail Space Available

      Prime retail space in a high-traffic Jensen Beach plaza.
      3300 Northeast Indian River Dr, Jensen Beach, FL 34957
      View Details
    • $21 SF/Yr
      1,890 SF

      High-Traffic Retail Center Near Beach

      Retail center with strong co-tenancy and high visibility.
      4232-4392 NE Ocean Blvd, Jensen Beach, FL 34957
      View Details
    • Contact for pricing
      4,473 SF

      Retail Space on Jensen Beach

      Retail space with high ceilings and immediate availability.
      1119 NE Jensen Beach Blvd, Jensen Beach, FL 34957
      View Details
    • Contact for pricing
      109,326 SF

      Jensen Beach Retail Center

      Prime Retail Space Available, 7,277 SF
      4163 Federal Hwy, Jensen Beach, FL 34957
      View Details

    Property Visit Statistics

    • Visits by month
      27.2k
    • Visitors by month
      13.7k
    • Avg Time on site
      9 min
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    Jensen Beach, FL 34957-2611
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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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