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Property profile & analytics
OFF-MARKET
Estimated value
$970,000
Community centers
1100 Colonnades Dr, Fort Pierce, FL 34949-3063
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US18-0319200
Property summary
AI-generated overview
This exceptional 1,000-square-foot retail space, formerly a bank, is available for lease in the desirable Colonnades Plaza on Fort Pierce South Beach (Hutchinson Island). Located across from the Pelican Yacht Club, this property boasts excellent visibility on Seaway Drive. The space features ample parking with 25 spaces in front and 15 in the rear. The property is zoned C-5 and has an APN of 240150103312202. The lease rate is $25 per square foot, NNN, with CAM estimated at $7.90 per square foot. This single-tenant space presents a unique opportunity for businesses seeking a high-traffic location. The property is part of a vibrant commercial center, sharing space with established businesses such as Ocean Nails, Cream Republic Ice Cream, Agelina's Italian Restaurant, and Ellie's House of Hair. Note that an adjacent 2,000-square-foot former medical space is also available, allowing for a combined total of 3,000 square feet should a larger space be required. Given the limited availability of commercial space on South Beach, this property represents a rare and highly sought-after opportunity.
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1975
Construction
CONCRETE BLOCKS
Total area
4,000 SF
Lot
0.96 ac (41,719 SF)
Zoning code
TOURIST CO
APN
2401-501-0331-220-2
UPID
US18-0319200
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$930k
CAP Approach
CAP
$920k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$970k
Owner & transaction history
Azk Investments LLC · 6 yrs held
Azk Investments LLC
since 2020
Last sale
$1.0M
6 recorded transactions
Zoning & alternative use
TOURIST CO · Fort Pierce, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.0M
+16.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Fort Pierce submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fort Pierce submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$990,000
ML approach
$930,000
CAP Approach
CAP Return
Estimation
6%
$995,000
6.5%
$920,000
7%
$855,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$905,000
Current use
AUTO REPAIR, GARAGE
$1,045,000
Change: +16% · Conversion: Difficult
RETAIL STORES
$805,000
Change: -11% · Conversion: Easy
MEDICAL BUILDING
$760,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$970k
Range $873k – $1.07M · ±10% · vs last sale $1.00M (Mar 16 2020)
Last sale anchor
$1.00M
Mar 16 2020
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$243 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$26,406
Tax year 2023
Assessed value
$1,043,300
Assessed 2023
Previous assessed
$956,200
+9.1% YoY
Effective rate
2.53%
On assessed value
Assessed land
$1,043,000
Assessed improvement
$300
Land market value
$1,043,000
Improvement market value
$300
Total market value
$1,043,300
Applied tax rate
9,022.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Community centers
Use group
MINI-MALL
Status
Off-Market
Year built
1975
Construction
CONCRETE BLOCKS
Heating
FORCED AIR
Cooling
YES
Buildings
2
Stories
1
Units
5
Rooms
45
Bathrooms
2
Total area
4,000 SF
Lot
0.96 ac (41,719 SF)
Zoning code
TOURIST CO
APN
2401-501-0331-220-2
UPID
US18-0319200
Jurisdiction
ST LUCIE
Zoning & alternative use
TOURIST CO · Fort Pierce, FL
Zoning TOURIST CO · permitted uses
TOURIST CO · Fort Pierce, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fort Pierce. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$905,000
AUTO REPAIR, GARAGE
Est. value
$1.0M
RETAIL STORES
Est. value
$805,000
MEDICAL BUILDING
Est. value
$760,000
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1975
Construction
CONCRETE BLOCKS
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Units
5
Rooms
45
Bathrooms
2
Lot
0.96 ac
Current owner
From public records · entity-resolved
Azk Investments LLC
Entity
Mailing address
2215 NEBRASKA AVE, FORT PIERCE, FL 34950-4864
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 16, 2020
$1,000,000
Azk Investments LLC
B & L Development LLC
Warranty Deed
$742,500 · Centerstate Bank NA
Apr 3, 2019
—
B & L Dev LLC
—
Deed
related
$261,523 · Benitez Oswaldo D L/tr (lt)
Jun 23, 2003
$600,000
B & L Development LLC
Benitez,oswaldo D
Grant Deed
$450,000 · Suntrust Bank NA
Jun 4, 1999
$30,000
Oswaldo D Benitez
Completo,lazaro R
Grant Deed
—
—
—
B & L Dev LLC
—
Deed Of Trust
related
$261,523 · Benitez O D Living Trust (lt)
—
—
B & L Dev LLC
—
Loan Modification
related
$261,523 · Benitez Oswaldo D L/tr (lt)
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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