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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3401 Cornell Ave Palm City, FL 34990-3465

    • Apartment buildings
    • 9,696 SF
    • 1.39 lot acres
    OFF-MARKET
    Value Estimations
    $1,375,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0771681
    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

    • Apartment buildings

    Property Details for 3401 Cornell Ave

    Year built
    1983
    Construction
    FRAME
    Lot size
    1.39 lot acres
    Property size
    9,696 SF
    Property type
    Apartment buildings
    APN
    17-38-41-001-021-00130-6
    APU
    173841001021001306

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,970,000
      6.5%
      $1,820,000
      7%
      $1,690,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Palm City
    County
    Martin
    State
    Florida
    Longitude
    -80.2641
    Latitude
    27.1636
    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
    $16,930
    $312,000
    $735,850
    $1,047,850
    -
    $312,000
    $735,850
    $1,047,850

    Comparable in this City

    • Value Estimation
      $555,000
      3,690 SF

      3475 Mapp Rd

      APARTMENT HOUSE (5+ UNITS) • 3,690 SF
      3475 Mapp Rd, Palm City, FL 34990-3365
      View Details
    • Value Estimation
      $540,000
      4,294 SF

      756 Gdns Blvd

      APARTMENT HOUSE (5+ UNITS) • 4,294 SF
      756 Gdns Blvd, Palm City, FL 34990
      View Details
    • Value Estimation
      $7,000,000
      9,840 SF

      544 35th St

      APARTMENT HOUSE (5+ UNITS) • 9,840 SF
      544 35th St, Palm City, FL 34990-3669
      View Details
    • Value Estimation
      $555,000
      3,690 SF

      3455 Mapp Rd

      APARTMENT HOUSE (5+ UNITS) • 3,690 SF
      3455 Mapp Rd, Palm City, FL 34990-3399
      View Details
    • Value Estimation
      $690,000
      4,068 SF

      3665 Cornell Ave

      APARTMENT HOUSE (5+ UNITS) • 4,068 SF
      3665 Cornell Ave, Palm City, FL 34990-3522
      View Details
    • Value Estimation
      $885,000
      6,508 SF

      781 Gdns Blvd

      APARTMENT HOUSE (5+ UNITS) • 6,508 SF
      781 Gdns Blvd, Palm City, FL 34990-3663
      View Details

    Similar Nearby for Sale

    • $2,000,000
      20.50 Acres

      Palm City Residential Land Development

      20.5 Acres, Prime Location, $2M
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    • New
      $270,000
      Pending

      Charming Home in The Meadows

      2 bedroom, 2 bath home in sought after community.
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      4.50 Acres

      Prime I-95 Commercial Land

      4.5-7.8 Acres, Palm City, FL
      & I-95 Martin Hwy, Palm City, FL 34990
      View Details
    • $2,500,000

      19.25 Acres Near I-95

      19.25 acres of agricultural land, zoned Ag Ranchette.
      4496 SW 96Th St, Palm City, FL 34990
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    • $198,500
      Pending

      Vacant Lot in Palm City

      Prime .25-acre lot in desirable Seagate Harbor community.
      532 SW Marion Ct, Palm City, FL 34990
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    • $10,500,000
      32.71 Acres

      Prime I-95 Commercial Land, Palm City

      32.71 Acres, C-PUD Zoning, Excellent Location
      & I-95 Martin Hwy, Palm City, FL 34990
      View Details

    Similar Nearby for Lease

    • $1,775 /Mo

      Palm City Rental with Flex Room

      Charming 2-bedroom rental with open floor plan in Palm City.
      797 SW 36Th Ter, Palm City, FL 34990
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space in Palm City

      Retail space anchored by Cleveland Clinic and national retailers.
      3078-3120 SW Martin Downs Blvd, Palm City, FL 34990
      View Details
    • $33 SF/Yr
      20,380 SF

      Upscale Office Space in Palm City

      Professional office space with convenient access and high-end amenities.
      3660 Southwest 30Th Ave, Palm City, FL 34990
      View Details
    • $40 SF/Yr
      3,000 SF

      Prime Palm City Office Space

      3,000 sq ft Office, Single Tenant
      2740 Mapp Rd, Palm City, FL 34990
      View Details
    • $45 SF/Yr
      774 SF

      Palm City Office Space Available

      Office space available for lease in Palm City, Florida.
      945 SW Martin Downs Blvd, Palm City, FL 34990
      View Details
    • Contact for pricing

      Prime Palm City Office Space

      Updated Office Building, High Visibility
      1133 Martin Downs Blvd, Palm City, FL 34990
      View Details
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    3401 Cornell Ave
    Palm City, FL 34990-3465
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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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