Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$3,795,000
Office Spaces
11500 Lares Ave Hobe Sound, FL 33455-5240
Entity Owned
Free & Clear
Property ID
US18-4575525
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1983
Construction
FRAME
Total area
19,199 SF
Lot
5.16 ac (224,552 SF)
APN
34-38-42-064-001-00010-0
UPID
US18-4575525
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
Current use
Occupant on record · Public records
-
Cole-Clark Boys & Girls Club in Hobe Sound Child Welfare Organization Charitable Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.99M
Comparable Approach
Comparable
$2.78M
Blend (final)
Blend
$3.80M
Owner & transaction history
Martin County
Martin County
since 2026
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$5.2M
+1.8%
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 Hobe Sound submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hobe Sound 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$4,320,000
6.5%
$3,985,000
7%
$3,705,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$5,090,000
Current use
RETAIL STORES
$5,180,000
Change: +2% · Conversion: Easy
MEDICAL BUILDING
$4,575,000
Change: -10% · Conversion: Easy
Blend value · Realmo final
$3.80M
Range $3.42M – $4.17M · ±10%
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
$198 / 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
Assessed value
$2,843,840
Assessed 2023
Previous assessed
$2,229,370
+27.6% YoY
Assessed land
$1,300,630
Assessed improvement
$1,543,210
Land market value
$1,300,630
Improvement market value
$1,543,210
Total market value
$2,843,840
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1983
Construction
FRAME
Heating
NONE
Cooling
YES
Stories
1
Rooms
2
Bathrooms
10
Total area
19,199 SF
Lot
5.16 ac (224,552 SF)
APN
34-38-42-064-001-00010-0
UPID
US18-4575525
Jurisdiction
MARTIN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$5.1M
RETAIL STORES
Est. value
$5.2M
MEDICAL BUILDING
Est. value
$4.6M
COMMERCIAL (GENERAL) Current
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
1983
Construction
FRAME
Heating
NONE
Cooling
Yes
Stories
1
Rooms
2
Bathrooms
10
Lot
5.16 ac
Current owner
From public records · entity-resolved
Martin County
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 910, HOBE SOUND, FL 33475-0910
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 13, 2026
—
Martin County
Boys And Girls Club Of Martin Count
Warranty Deed
—
Mar 23, 2004
$115,000
Gregory L Salomone
Cooper,erik A
Grant Deed
$117,500 · Wachovia Mortgage Co
Mar 23, 2004
$162,500
Rochelle Insustrial INC
Star Maple-partners Ltd
Grant Deed
$152,500 · First National Bank & Trust
Mar 23, 2004
$62,000
Robert Mcmahon
Alvarez,flora
Grant Deed
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 11500 Lares Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
