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    Property profile & analytics

    2850 Market Pl Stuart, FL 34997-4965

    • Warehouses
    • 22,400 SF
    • 2.43 lot acres
    OFF-MARKET
    Last Sale
    May 18, 2020
    $3,100,000
    Value Estimations
    $3,345,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2102925
    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

    • The Athletic Factory / Gym & Fitness Center
    • Brandster Design Center / Furniture & Home Goods / Hardware & Home Improvement
    • Brandster Inc. / Furniture & Home Goods / Hardware & Home Improvement
    • Edens Benton, Inc. / Construction Company

    Property Details for 2850 Market Pl

    Year built
    1985
    Lot size
    2.43 lot acres
    Property size
    22,400 SF
    Property type
    Warehouses
    APN
    38-38-41-002-212-00010-0
    APU
    383841002212000100

    Description

    This 2,000 square foot flex space is available for lease in a 36,766 square foot building situated on 2.49 acres in Stuart, Florida. Built in 1985 and renovated in 2017, the building offers 20-foot clear-high ceilings, a 14-foot overhead door, and air conditioning in the office area. The concrete structure boasts 54 total parking spaces and is conveniently located off US Highway 1, with access from Market Place, providing easy access to the entire Treasure Coast region. The property benefits from a prime location across from a Walmart and shares the building with established businesses such as the Athletic Factory and Brandster Outdoor Furniture, offering excellent visibility and synergy opportunities. Signage is available at the space entrance. This two-story building is located in Martin County, Florida, with the address being 2850 SE Market Pl, Stuart, FL 34997.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,490,000
      ML approach
      $3,705,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,338,000
      Market price range: $1.66M - $3.34M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $2,535,000
      Current use
      MEDICAL BUILDING
      $5,335,000
      Change: +111% Conversion: Difficult
      RETAIL STORES
      $5,250,000
      Change: +107% Conversion: Moderate
      INDUSTRIAL (GENERAL)
      $3,525,000
      Change: +39% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $3,275,000
      Change: +29% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $3,215,000
      Change: +27% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Stuart
    County
    Martin
    State
    Florida
    Longitude
    -80.2161
    Latitude
    27.1551
    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
    $50,710
    $402,230
    $2,330,380
    $2,732,610
    -
    $402,230
    $2,330,380
    $2,732,610

    Comparable in this City

    • Value Estimation
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      24,000 SF

      4191 Commerce Ave

      WAREHOUSE, STORAGE • 24,000 SF
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    • Value Estimation
      $650,000
      5,805 SF

      4430 Commerce Ave

      WAREHOUSE, STORAGE • 5,805 SF
      4430 Commerce Ave, Stuart, FL 34997-5727
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    • Value Estimation by Request
      49,995 SF

      4513 Commerce Ave

      Flex space • 49,995 SF
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    • Value Estimation by Request
      8,880 SF

      3141 Dominica Ter

      WAREHOUSE, STORAGE • 8,880 SF
      3141 Dominica Ter, Stuart, FL 34997-5755
      View Details
    • Value Estimation
      $645,000
      5,720 SF

      3451 Lionel Ter

      WAREHOUSE, STORAGE • 5,720 SF
      3451 Lionel Ter, Stuart, FL 34997-8870
      View Details
    • Value Estimation
      $555,000
      10,872 SF

      2928 Monroe St

      WAREHOUSE, STORAGE • 10,872 SF
      2928 Monroe St, Stuart, FL 34997-5943
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

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    • $25 SF/Yr
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      Industrial warehouse space available for lease in Stuart, Florida.
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    • $18 SF/Yr
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      Double Flex Space Stuart, FL

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      View Details
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    2850 Market Pl
    Stuart, FL 34997-4965
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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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