3000 Okeechobee Rd Fort Pierce, FL 34947
- Commercial real estate
- 6.87 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 3000 Okeechobee Rd
- Lot size
- 6.87 lot acres
- Property type
- Commercial real estate
- APN
- 241750400200016
Description
This exceptional investment opportunity presents a fully approved site plan for the construction of a 112-unit apartment complex in Fort Pierce, Florida. Located on a 6.87-acre lot with 516 feet of frontage on Okeechobee Road, this Class A multifamily property offers a compelling 6.00% cap rate and is priced at $2,500,000 ($22,321.43 per unit). The property boasts a fee simple ownership structure and is suitable for a 1031 exchange. Its strategic location provides easy access to major transportation arteries, including I-95 and the Turnpike, situated just 3 miles away. Furthermore, the property enjoys proximity to St. Lucie County's research park, city, county, and federal government buildings (less than 2 miles), the beautiful marinas of the Indian River Lagoon (2.5 miles), vibrant downtown Fort Pierce, and the beaches of Hutchinson Island (4 miles). The permitted zoning allows for both multifamily and commercial uses, presenting significant potential for future development and expansion. This stabilized investment is ideal for builders and investors seeking a high-return opportunity in a rapidly growing market. The property's location within a thriving area experiencing significant population growth makes it an attractive proposition for long-term investment and rental income generation. The APN is 241750400200016.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Fort Pierce
- County
- St Lucie
- State
- Florida
- Longitude
- -80.3556091
- Latitude
- 27.4343122
