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Property profile & analytics
OFF-MARKET
Estimated value
$3,885,000
Turn key restaurants
1640 Seaway Dr, Fort Pierce, FL 34949-3156
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US18-9762479
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1987
Construction
WOOD
Total area
7,140 SF
Lot
1.37 ac (59,542 SF)
Zoning code
TOURIST CO
APN
2401-501-0269-000-8
UPID
US18-9762479
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
-
Mangrove Matties Bar & Pub
-
Manatee Island Fort Pierce Bar & Pub Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.30M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.98M
Blend (final)
Blend
$3.89M
Owner & transaction history
Perry Freeman Real Estate Holdings · 2 yrs held
Perry Freeman Real Estate Holdings
since 2023
Last sale
$4.0M
7 recorded transactions
Zoning & alternative use
TOURIST CO · Fort Pierce, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$3,140,000
ML approach
$3,300,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$3.89M
Range $3.50M – $4.27M · ±10% · vs last sale $4.00M (Nov 22 2023)
Last sale anchor
$4.00M
Nov 22 2023
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
$544 / 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
$71,103
Tax year 2023
Assessed value
$3,491,700
Assessed 2023
Previous assessed
$2,408,560
+45.0% YoY
Effective rate
2.04%
On assessed value
Assessed land
$2,977,100
Assessed improvement
$514,600
Land market value
$2,977,100
Improvement market value
$514,600
Total market value
$3,491,700
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1987
Construction
WOOD
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Rooms
4
Bathrooms
1
Total area
7,140 SF
Lot
1.37 ac (59,542 SF)
Zoning code
TOURIST CO
APN
2401-501-0269-000-8
UPID
US18-9762479
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.
Building & site characteristics
From public records
Year built
1987
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Rooms
4
Bathrooms
1
Lot
1.37 ac
Current owner
From public records · entity-resolved
Perry Freeman Real Estate Holdings
Entity
Mailing address
1227 YEAMANS HALL RD, HANAHAN, SC 29410-2745
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 9, 2025
—
Perry Freeman Real Estate Holdings
—
Deed
related
$6,600 · United Community Bank
Nov 22, 2023
$4,000,000
Perry Freeman Real Estate Holdings
Manatee Island Holdings LLC
Special Warranty Deed
$3,412,500 · United Community Bank
Aug 15, 2013
$2,240,000
Manatee Island Holdings LLC
Seaway Drive Holdings LLC
Grant Deed
$1,940,000 · Seaway Drive Holdings LLC
Aug 15, 2013
$3,350,000
Seaway Drive Holdings LLC
Ob Florida Cre Holdings LLC
Grant Deed
$505,000 · Sheets Carleton H Trust
Aug 26, 2008
—
Jacoby,james E Tr
Clerk Of Circuit Ct Of St Lucie Cnty
Trustees Deed
related
—
May 10, 2006
$6,000,000
Tropical Water Properties LLC
Mangrove Matties INC
Grant Deed
—
—
—
Manatee Island Holdings LLC
—
Deed Of Trust
related
$968,800 · Branch Banking & Trust Co
—
—
Manatee Island Holdings LLC
—
Deed Of Trust
related
$1,211,000 · Branch Banking & Trust Co
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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