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

    2221 Midway Rd Fort Pierce, FL 34981

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-6875993
    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

    • Commercial real estate

    Property Details for 2221 Midway Rd

    Property type
    Commercial real estate

    Description

    This exceptional 2.1-acre vacant land parcel in Fort Pierce, Florida, presents a unique investment opportunity. Located at 2221 W Midway Road, 34981, this property boasts over 500 feet of waterfront frontage on a tributary to the North Fork of the St. Lucie River. Its strategic location offers easy access via I-95, approximately 3.75 miles east of the Midway Road exit. Currently zoned AR-1 with RU (Residential Urban) land use, the site offers significant potential for development. The RU land use designation potentially allows for rezoning up to 5 units per acre, with possibilities including a waterfront townhome community or a unique restaurant, subject to rezoning. The property's high visibility on Midway Road, coupled with major developments underway in the area—including a new Amazon Distribution Center, a large wave park, and a substantial residential development—makes this a compelling investment. While extension of water and sewer lines will be necessary, the property's size and location make it an attractive prospect for developers. The total land area is 91,913 square feet. The asking price is $745,000.

    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
    -80.347316
    Latitude
    27.373649

    Comparable in this City

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    • $399,000

      2.7 Acres Cleared Land

      Cleared 2.7-acre land parcel near I-95 and Turnpike.
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    • $4,900,000
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      Industrial Land Ready For Development

      7.7 acres of industrial land with approved building permits.
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      39 SF

      39-Acre Parcel in Fort Pierce

      39-acre parcel suitable for residential development in Fort Pierce, Florida.
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    • $549,000
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      Waterfront Development Site on Midway Road

      2.1-acre waterfront development site on the Midway Road corridor.
      2083 W Midway Rd, Fort Pierce, FL 34981
      View Details
    • $7,500,000

      34.22 Acres Commercial Land

      34.22 acres of commercial land in Saint Lucie County.
      2550 W Midway Rd, Fort Pierce, FL 34981
      View Details

    Similar Nearby for Sale

    • $375,000
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      Fort Pierce Commercial Land - $375K

      0.64 Acres, High-Traffic Location
      3599 Virginia Ave, Fort Pierce, FL 34981
      View Details
    • $399,000

      2.7 Acres Cleared Land

      Cleared 2.7-acre land parcel near I-95 and Turnpike.
      2722 S Jenkins Rd, Fort Pierce, FL 34981
      View Details
    • $4,900,000
      7.70 Acres

      Industrial Land Ready For Development

      7.7 acres of industrial land with approved building permits.
      6155 Glades Cut Off Rd, Fort Pierce, FL 34981
      View Details
    • Contact for pricing
      39 SF

      39-Acre Parcel in Fort Pierce

      39-acre parcel suitable for residential development in Fort Pierce, Florida.
      Jenkins Rd, Fort Pierce, FL 34981
      View Details
    • $549,000
      2.10 Acres

      Waterfront Development Site on Midway Road

      2.1-acre waterfront development site on the Midway Road corridor.
      2083 W Midway Rd, Fort Pierce, FL 34981
      View Details
    • $2,800,000
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      South 25th Street Commercial Land

      2.8-Acre Commercial Lot in Fort Pierce, FL
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    Similar Nearby for Lease

    • $7,934 /Mo
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      Fort Pierce Industrial Lease Options

      Multiple industrial lease options available in Fort Pierce Business Park.
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    • $16 SF/Yr
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      Fort Pierce Industrial Flex Space

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      Fort Pierce Industrial/Storage Space

      Flexible industrial and storage spaces in Fort Pierce Business Park.
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    • $5,000 /Mo
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      Versatile Facility in Fort Pierce

      4,028 SF facility ideal for various uses in Fort Pierce.
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    • $16 SF/Yr
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      Fort Pierce Warehouse Space Available

      Warehouse space for lease near major highways in Fort Pierce.
      3904 Selvitz Rd, Fort Pierce, FL 34981
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    • $800 /Mo
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      Fort Pierce Industrial Lease Options

      Industrial lease options available with roll-up doors and loading dock.
      4121-4139 Bandy Blvd, Fort Pierce, FL 34981
      View Details
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    2221 Midway Rd
    Fort Pierce, FL 34981
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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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