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    2400 SE Leithgow St Port St Lucie, FL 34952
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    2400 SE Leithgow St Port St Lucie, FL 34952

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    • Residential land & home lots
    Off-Market
    Property ID
    US18-0913045
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Residential land & home lots

    Property Details for 2400 SE Leithgow St

    Property type
    Residential land & home lots

    Description

    Lee & Associates presents a lucrative opportunity for residential or multifamily development on an expansive 9.58-acre vacant land site just off US-1 in Port St. Lucie, Florida. Comprising two parcels, the property features existing zoning of RS-3 for single-family residential use with plans in place for the construction of approximately 46 Single Family Homes or 93 Townhomes. Moreover, there exists significant potential for multifamily development, with the possibility of constructing up to 11 units per acre (105 units) by rezoning to city zoning, making this an ideal investment for developers seeking versatile options. A recent engineering report has confirmed that the property's pond is solely a result of rainwater accumulation, with a minimal 0.2 acres designated as wetlands, indicating the feasibility of extensive development. Various documents are available upon request including Environmental Studies, Topography Survey, Bathymetric Survey, Wetland Delineation Survey, Preliminary Site Plans, and Cut-Fill Estimate. Conveniently positioned less than a mile from the bustling US-1 retail corridor at the corner of Port St Lucie Blvd/SE Mariposa Ave and SE Leithgow Street, residents will enjoy proximity to a plethora of amenities including a Walmart Supercenter, Sam's Club, Planet Fitness, Beall's, and various dining options such as Applebee's, Denny's and several other fast food and local eateries. Mariposa Elementary School is within walking distance, catering to families with young children, while recreational opportunities abound with nearby attractions like the Jensen Beach Golf Club, Savannas Preserve State Park, and Hutchinson Islands. The seller is highly motivated. This prime property represents an exceptional investment opportunity to meet a high demand for housing in one of Florida's rapidly growing markets. Developing homes in Port St. Lucie offers the advantage of catering to families seeking suburban living with proximity to essential amenities and recreational facilities which enhances the desirability and marketability of the homes, ensuring strong demand and potential for appreciation.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Port St Lucie
    County
    St. Lucie
    State
    Florida
    Longitude
    -80.2776852
    Latitude
    27.2697795

    Comparable in this City

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    Similar Nearby for Sale

    • $299,000
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      Land in Waterfront Community

      Land in Rivella, a private waterfront community with amenities.
      146 SE Fiore Bello, Port St Lucie, FL 34952
      View Details
    • $275,000
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      Waterfront Homesite in Exclusive Community

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    • $210,000
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      Port St Lucie Estate Lot

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    • $310,000
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      Corner Land in Port St. Lucie

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      Port St. Lucie Residential Corner Lot

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      Port St. Lucie Land Available

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    Similar Nearby for Lease

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      Prime Retail Outparcel on US-1

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      Port St. Lucie Warehouse Space

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      Professional Office Suite Available

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    Port St Lucie, FL 34952
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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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