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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1261 Thelma St Palm City, FL 34990

    • Office Properties & Spaces
    • 7,113 SF
    • 0.74 lot acres
    OFF-MARKET
    Last Sale
    Jan 11, 2022
    $1,281,500
    Value Estimations
    $1,395,000
    Show details
    Cap Rate Potential
    6.4%
    Office Properties & Spaces
    Location Intelligence
    Property ID
    US18-7386446
    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

    • Office Properties & Spaces

    Property Details for 1261 Thelma St

    Year built
    1950
    Construction
    WOOD
    Lot size
    0.74 lot acres
    Property size
    7,113 SF
    Property type
    Office Properties & Spaces
    APN
    18-38-41-006-001-00200-6
    APU
    183841006001002006

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,495,000
      ML approach
      $1,420,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,600,000
      6.5%
      $1,475,000
      7%
      $1,370,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,421,000
      Market price range: $333k - $1.91M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,620,000
      Current use
      RETAIL STORES
      $1,920,000
      Change: +19% Conversion: Easy
      MEDICAL BUILDING
      $1,695,000
      Change: +5% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $1,345,000
      Change: -17% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Palm City
    County
    Martin
    State
    Florida
    Longitude
    -80.2699
    Latitude
    27.1678
    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
    $18,057
    $287,410
    $794,040
    $1,081,450
    -
    $287,410
    $794,040
    $1,081,450

    Comparable in this City

    • Value Estimation by Request
      6,235 SF

      1111 Martin Downs Blvd

      Office Properties & Spaces • 6,235 SF
      1111 Martin Downs Blvd, Palm City, FL 34990
      View Details
    • Value Estimation by Request
      774 SF

      945 Martin Downs Blvd

      OFFICE (GENERAL) • 774 SF
      945 Martin Downs Blvd, Palm City, FL 34990-2815
      View Details
    • Value Estimation
      $2,105,000
      13,471 SF

      2646 Mapp Rd

      OFFICE (GENERAL) • 13,471 SF
      2646 Mapp Rd, Palm City, FL 34990-2754
      View Details
    • Value Estimation by Request
      2,216 SF

      890 Martin Downs Blvd

      OFFICE (GENERAL) • 2,216 SF
      890 Martin Downs Blvd, Palm City, FL 34990-2849
      View Details
    • Value Estimation by Request
      961 SF

      1165 27th St

      OFFICE (GENERAL) • 961 SF
      1165 27th St, Palm City, FL 34990-2907
      View Details
    • Value Estimation
      $1,830,000
      8,813 SF

      1251 27th St

      OFFICE (GENERAL) • 8,813 SF
      1251 27th St, Palm City, FL 34990-2794
      View Details

    Similar Nearby for Sale

    • $10,500,000
      32.71 Acres

      Prime I-95 Commercial Land, Palm City

      32.71 Acres, C-PUD Zoning, Excellent Location
      & I-95 Martin Hwy, Palm City, FL 34990
      View Details
    • $2,100,000
      7,000 SF

      Palm City Flex/Industrial Condo

      2,566 SF flex/industrial condo in Palm City, Florida.
      2340 SW Poma Dr, Palm City, FL 34990
      View Details
    • $1,200,000

      9.6 Acre Parcel Near I-95

      9.6 acre agricultural land parcel, two miles from I-95.
      9935 SW Citrus Blvd, Palm City, FL 34990
      View Details
    • New
      $479,900
      5.04 Acres

      Palm City Cleared 5-Acre Lot

      5-acre cleared lot in equestrian-friendly Palm City gated community.
      3150 SW Briarbrook Way, Palm City, FL 34990
      View Details
    • $2,000,000
      20.50 Acres

      Palm City Residential Land Development

      20.5 Acres, Prime Location, $2M
      0 Parkside Dr, Palm City, FL 34990
      View Details
    • Contact for pricing
      4.50 Acres

      Prime I-95 Commercial Land

      4.5-7.8 Acres, Palm City, FL
      & I-95 Martin Hwy, Palm City, FL 34990
      View Details

    Similar Nearby for Lease

    • $40 SF/Yr
      3,000 SF

      Prime Palm City Office Space

      3,000 sq ft Office, Single Tenant
      2740 Mapp Rd, Palm City, FL 34990
      View Details
    • $72 SF/Yr
      6,235 SF

      Palm City Executive Office Suite

      Turnkey Office, 100 SF, Utilities Included
      1111 Martin Downs Blvd, Palm City, FL 34990
      View Details
    • $33 SF/Yr
      20,380 SF

      Upscale Office Space in Palm City

      Professional office space with convenient access and high-end amenities.
      3660 Southwest 30Th Ave, Palm City, FL 34990
      View Details
    • $20 SF/Yr
      9,412 SF

      Prime Corner Office Suite

      High-visibility office space in Palm City's commercial district.
      1025 SW Martin Downs Blvd, Palm City, FL 34990
      View Details
    • $17 SF/Yr
      3,000 SF

      Flex Space Available For Rent

      Showroom/office/warehouse flex space with convenient highway access.
      1270 SW 34Th St, Palm City, FL 34990
      View Details
    • $800 /Mo
      100 SF

      Furnished Office Suite For Rent

      Furnished 100 SF office suite with utilities included.
      1105 SW Martin Downs Blvd, Palm City, FL 34990
      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.
    1261 Thelma St
    Palm City, FL 34990
    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.