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    Property profile & analytics

    2528 Ocean Dr Fort Pierce, FL 34949

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-6640813
    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 2528 Ocean Dr

    Property type
    Commercial real estate
    APN
    241350101170005

    Description

    This exceptional 23,448 square foot commercial land parcel presents a unique investment opportunity on Hutchinson Island in Fort Pierce, Florida. Located at 2528 S Ocean Dr, this property boasts a desirable General Commercial zoning designation, allowing for a wide range of development possibilities. The expansive lot size provides ample space for various commercial ventures, catering to the needs of businesses seeking a prominent location in this thriving coastal community. The property's address in St. Lucie County, Florida, with a zip code of 34949, places it within easy reach of local amenities and attractions. The asking price is $380,000, and owner financing is available, making this an attractive proposition for both seasoned investors and those entering the commercial real estate market. The property's location offers unparalleled access to the beautiful beaches and vibrant atmosphere of Hutchinson Island. With its strategic location and flexible zoning, this land parcel represents a significant opportunity to build a successful commercial enterprise. The APN is 241350101170005. This is a rare chance to acquire a substantial piece of prime commercial real estate in a highly sought-after location. Don't miss this chance to secure your future in this dynamic market.

    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
    -80.2844448
    Latitude
    27.4333762

    Comparable in this City

    • $1,340,000

      Commercial Lots in St. Lucie

      Four commercial lots totaling ±16.49 acres in Port St. Lucie.
      Brandywine Ln, Port Saint Lucie, FL 34949
      View Details
    • $875,000
      0.10 Acres

      Oceanfront Lot in Watersong

      Oceanfront vacant lot in gated community, Watersong, Hutchinson Island.
      5104 Watersong Way, Fort Pierce, FL 34949
      View Details
    • $6,995,000

      Approved Site Plan on A1A

      Shovel-ready commercial land with mixed-use zoning and approved site plan.
      2901 Highway A1A N, Hutchinson Island, FL 34949
      View Details
    • $1,000,000
      0.37 Acres

      Ocean Front Lot For Sale

      Oceanfront lot on South Hutchinson Island, build your dream home.
      S Ocean Dr, Fort Pierce, FL 34949
      View Details
    • $35,000
      0.49 Acres

      Hutchinson Island Land Near Beach

      0.49 acre property near beach and Indian River Lagoon.
      S Ocean Dr, Fort Pierce, FL 34949
      View Details
    • New
      $449,000

      Land Near Intracoastal Waterway

      Residential land near the intracoastal and ocean in Fort Pierce.
      Seaway Dr, Fort Pierce, FL 34949
      View Details

    Similar Nearby for Sale

    • $1,340,000

      Commercial Lots in St. Lucie

      Four commercial lots totaling ±16.49 acres in Port St. Lucie.
      Brandywine Ln, Port Saint Lucie, FL 34949
      View Details
    • $875,000
      0.10 Acres

      Oceanfront Lot in Watersong

      Oceanfront vacant lot in gated community, Watersong, Hutchinson Island.
      5104 Watersong Way, Fort Pierce, FL 34949
      View Details
    • $35,000
      0.49 Acres

      Hutchinson Island Land Near Beach

      0.49 acre property near beach and Indian River Lagoon.
      S Ocean Dr, Fort Pierce, FL 34949
      View Details
    • $6,995,000

      Approved Site Plan on A1A

      Shovel-ready commercial land with mixed-use zoning and approved site plan.
      2901 Highway A1A N, Hutchinson Island, FL 34949
      View Details
    • $1,000,000
      0.37 Acres

      Ocean Front Lot For Sale

      Oceanfront lot on South Hutchinson Island, build your dream home.
      S Ocean Dr, Fort Pierce, FL 34949
      View Details
    • New
      $449,000

      Land Near Intracoastal Waterway

      Residential land near the intracoastal and ocean in Fort Pierce.
      Seaway Dr, Fort Pierce, FL 34949
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      1,000 SF

      South Beach Retail Space For Lease

      Prime location, 1,000 sq ft, former bank.
      1100 Colonnades Dr, Fort Pierce, FL 34949
      View Details
    • $1,200 /Mo
      4,500 SF

      Ocean View Office Suite

      Second-floor office suite with ocean views available for lease.
      221 S Ocean Dr, Fort Pierce, FL 34949
      View Details
    • $3,000 /Mo

      Furnished Unit Near Sandy Beaches

      Charming, fully furnished 2-bedroom unit near the beach.
      1115 Hernando St, Fort Pierce, FL 34949
      View Details
    Request Owner's contact information
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    2528 Ocean Dr
    Fort Pierce, FL 34949
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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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