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    Property profile & analytics

    2875 Ocean Blvd Stuart, FL 34996-2769

    • Community centers
    • 15,440 SF
    • 2.23 lot acres
    OFF-MARKET
    Last Sale
    Jun 16, 2023
    Value Estimations
    $345,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-1118653
    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 Red Grill III / Mexican Restaurant

    Property Details for 2875 Ocean Blvd

    Year built
    1986
    Lot size
    2.23 lot acres
    Property size
    15,440 SF
    Property type
    Community centers
    APN
    02-38-41-000-000-00031-3
    APU
    23841000000000313

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $345,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Stuart
    County
    Martin
    State
    Florida
    Longitude
    -80.2164
    Latitude
    27.1967
    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
    $32,833
    $466,890
    $1,477,250
    $1,944,140
    -
    $466,890
    $1,477,250
    $1,944,140

    Comparable in this City

    • Value Estimation
      $575,000
      32,754 SF

      900 Ocean Blvd

      MINI-MALL • 32,754 SF
      900 Ocean Blvd, Stuart, FL 34996-1519
      View Details
    • Value Estimation
      $1,160,000
      64,601 SF

      3766 Ocean Blvd

      MINI-MALL • 64,601 SF
      3766 Ocean Blvd, Stuart, FL 34996-6713
      View Details
    • Value Estimation
      $445,000
      14,004 SF

      2160 Ocean Blvd, Unit 190

      MINI-MALL • 14,004 SF
      2160 Ocean Blvd, Stuart, FL 34996-3306
      View Details
    • Value Estimation
      $1,390,000
      77,356 SF

      2389 Ocean Blvd

      MINI-MALL • 77,356 SF
      2389 Ocean Blvd, Stuart, FL 34996-3309
      View Details
    • Value Estimation
      $13,255,000
      77,236 SF

      2101 Ocean Blvd

      MINI-MALL • 77,236 SF
      2101 Ocean Blvd, Stuart, FL 34996-3305
      View Details
    • Value Estimation
      $7,235,000
      118,252 SF

      2300 Ocean Blvd

      MINI-MALL • 118,252 SF
      2300 Ocean Blvd, Stuart, FL 34996-3310
      View Details

    Similar Nearby for Sale

    • $1,450,000
      4,916 SF

      Stuart Office Building For Sale

      Office building with 4,916 square feet of space.
      1115 SE Ocean Blvd, Stuart, FL 34996
      View Details
    • $4,500,000
      0.99 Acres

      Waterfront Acreage in Desirable Location

      Rare deep-water estate site perfect for yachts and coastal living.
      4082 SE Old Saint Lucie Blvd, Stuart, FL 34996
      View Details
    • $695,000
      0.28 Acres

      Hutchinson Island Homesite with River Access

      Rare vacant lot on Hutchinson Island with deeded river access.
      5157 NE Shore Village Ter, Stuart, FL 34996
      View Details
    • $429,000
      1,472 SF

      Oceanfront Stuart Office Space

      Prime Office, Sewalls Point, 1472 sq ft
      3601 Ocean Blvd, Stuart, FL 34996
      View Details
    • $2,250,000
      0.97 Acres

      Oversized Lot in Sewalls Point

      Large lot with dock, close to beaches and shopping.
      36 S Sewalls Point Rd, Sewalls Point, FL 34996
      View Details
    • $695,000
      0.28 Acres

      Hutchinson Island Homesite with River Access

      Rare vacant lot with deeded Indian River access on Hutchinson Island.
      5157 NE Shore Village Ter, Stuart, FL 34996
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,512 SF

      Retail Space in Stuart, Florida

      Retail space available for lease in Stuart, Florida.
      3700-3778 SE Ocean Blvd, Stuart, FL 34996
      View Details
    • Contact for pricing
      1,088 SF

      Retail Space in Stuart, Florida

      Retail space available for lease in Stuart, Florida.
      1051 SE Ocean Blvd, Stuart, FL 34996
      View Details
    • $25 SF/Yr
      1,485 SF

      Freestanding Building on Ocean Boulevard

      1,485 SF freestanding building ideal for quick-service restaurant.
      2225 SE Ocean Blvd, Stuart, FL 34996
      View Details
    • $22 SF/Yr
      2,000 SF

      Retail Space on Ocean Boulevard

      Retail space available for lease on Ocean Boulevard.
      2389-2791 SE Ocean Blvd, Stuart, FL 34996
      View Details
    • $20 SF/Yr
      30,051 SF

      Stuart Office Space for Lease

      Class A Office Suites Available Now
      1000 Monterey Commons Blvd, Stuart, FL 34996
      View Details
    • $18 SF/Yr
      19,602 SF

      Sewall's Point Office Suites

      Class A Office Space, Florida
      3725-3727 Ocean Blvd, Sewall's Point, FL 34996
      View Details
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    2875 Ocean Blvd
    Stuart, FL 34996-2769
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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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