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    Property profile & analytics

    1608 31st St Fort Pierce, FL 34947

    • Office buildings
    • 1,500 SF
    • 0.26 lot acres
    OFF-MARKET
    Last Sale
    Dec 14, 2021
    $75,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2367264
    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 buildings

    Property Details for 1608 31st St

    Year built
    1955
    Construction
    CONCRETE BLOCKS
    Lot size
    0.26 lot acres
    Property size
    1,500 SF
    Zone code
    GENERAL CO
    Property type
    Office buildings
    APN
    2417-506-0067-000-6
    APU
    241750600670006

    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
    -80.356
    Latitude
    27.4324
    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
    $3,519
    $45,900
    $163,600
    $209,500
    -
    $45,900
    $163,600
    $209,500

    Comparable in this City

    • Value Estimation
      $630,000
      4,026 SF

      1404 28th St

      OFFICE BUILDING (MULTI-STORY) • 4,026 SF
      1404 28th St, Fort Pierce, FL 34947-6999
      View Details
    • Value Estimation
      $645,000
      3,600 SF

      2508 Acorn St

      OFFICE BUILDING • 3,600 SF
      2508 Acorn St, Fort Pierce, FL 34947
      View Details
    • Value Estimation by Request
      1,492 SF

      1406 25th St

      PROFESSIONAL BUILDING • 1,492 SF
      1406 25th St, Fort Pierce, FL 34947-4706
      View Details
    • Value Estimation
      $900,000
      3,745 SF

      3700 Okeechobee Rd

      OFFICE BUILDING • 3,745 SF
      3700 Okeechobee Rd, Fort Pierce, FL 34947-4558
      View Details
    • Value Estimation by Request
      1,024 SF

      440 25th St

      OFFICE BUILDING • 1,024 SF
      440 25th St, Fort Pierce, FL 34947-2100
      View Details
    • Value Estimation by Request
      1,200 SF

      1107 Angle Rd

      OFFICE BUILDING • 1,200 SF
      1107 Angle Rd, Fort Pierce, FL 34947-1773
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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      High-yield, 6-unit value-add opportunity.
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      Fort Pierce Retail Building

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    • $2,225,000
      5.10 Acres

      5001 Orange Ave

      Land • 5.10 Acres
      5001 Orange Ave, Fort Pierce, FL 34947
      View Details
    • $1,195,000

      Commercial Building on Corner Lot

      2,900 SF commercial building on a highly visible corner lot.
      2807 Okeechobee Rd, Fort Pierce, FL 34947
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    • $3,700,000

      Entitled Land Parcel For Sale

      10.03 acres entitled for 144 units with paid impact fees.
      100 Misty Ln, Fort Pierce, FL 34947
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      44,185 SF

      Executive Office Suites, Fort Pierce

      Prime Office Space Available, 1,642-2,764 SF
      1903 25Th St, Fort Pierce, FL 34947
      View Details
    • New
      $4,500 /Mo
      2,000 SF

      Remodeled Commercial Building with Parking

      2000 sq ft commercial building with parking in Fort Pierce.
      3801 Okeechobee Rd, Fort Pierce, FL 34947
      View Details
    • New
      $17 SF/Yr
      23,087 SF

      Fort Pierce Commercial Rental Space

      Commercial rental with office and warehouse space in Fort Pierce.
      405 Angle Rd, Fort Pierce, FL 34947
      View Details
    • $8 SF/Yr
      350,000 SF

      Fort Pierce Industrial Space

      350,000 SF Flex Space, 90,000 SF Available
      4300 Okeechobee Rd, Fort Pierce, FL 34947
      View Details
    • Sponsored
      Contact for pricing

      Quincy Professional Plaza

      medical, dentist, insurance, retail
      1803 S 25Th St, Fort Pierce, FL 34947
      View Details
    • $3,000 /Mo
      3,276 SF

      Warehouse with Office and Yard

      3,276 SF warehouse with office, loading dock, and yard.
      1501 S 31St St, Fort Pierce, FL 34947
      View Details
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    1608 31st St
    Fort Pierce, FL 34947
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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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