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    Property profile & analytics

    3422 Indian Riv Dr Jensen Beach, FL 34957-4112

    • Commercial land
    • 6,594 SF
    • 3.66 lot acres
    OFF-MARKET
    Last Sale
    Aug 02, 2023
    $3,000,000
    Value Estimations
    $3,020,000
    Show details
    Cap Rate Potential
    2.3%
    Commercial land
    Location Intelligence
    Property ID
    US18-1076877
    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 land

    Property Details for 3422 Indian Riv Dr

    Year built
    1950
    Construction
    WOOD FRAME
    Lot size
    3.66 lot acres
    Property size
    6,594 SF
    Property type
    Commercial land
    APN
    22-37-41-004-000-00010-4
    APU
    223741004000000104

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,790,000
      ML approach
      $3,800,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,351,000
      Market price range: $1.50M - $3.35M
      AI Estimate
      $2,737,000
      Market price range: $345k - $2.74M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,295,000
      Current use
      RESTAURANT
      $3,655,000
      Change: +59% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $3,130,000
      Change: +36% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Jensen Beach
    County
    Martin
    State
    Florida
    Longitude
    -80.2269
    Latitude
    27.2465
    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
    $29,197
    $1,693,950
    $0.00
    $1,693,950
    -
    $1,693,950
    $0.00
    $1,693,950

    Comparable in this City

    • Value Estimation by Request
      0.11 Acres

      Indian Riv Dr

      VACANT COMMERCIAL LAND • 0.11 Acres
      Indian Riv Dr, Jensen Beach, FL 34957
      View Details
    • Value Estimation
      $3,040,000
      0.50 Acres

      Glass Ave

      VACANT COMMERCIAL LAND • 22,500 SF
      Glass Ave, Jensen Beach, FL 34957
      View Details
    • Value Estimation by Request
      1.50 Acres

      Federal Hwy

      VACANT COMMERCIAL LAND • 1.50 Acres
      Federal Hwy, Jensen Beach, FL 34957
      View Details
    • Value Estimation by Request
      0.46 Acres

      3301 Indian Riv Dr

      VACANT COMMERCIAL LAND • 1,305 SF
      3301 Indian Riv Dr, Jensen Beach, FL 34957-4109
      View Details
    • Value Estimation
      $27,965,000
      4.98 Acres

      2201 Savannah Rd

      VACANT COMMERCIAL LAND • 216,929 SF
      2201 Savannah Rd, Jensen Beach, FL 34957-5426
      View Details
    • Value Estimation
      $7,265,000
      1.25 Acres

      Dixie Hwy

      VACANT COMMERCIAL LAND • 54,400 SF
      Dixie Hwy, Jensen Beach, FL 34957
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Waterfront Restaurant and Land Lots

      Established restaurant with land in Jensen Beach, Florida.
      NE Indian River Dr, Jensen Beach, FL 34957
      View Details
    • $1,900,000
      0.85 Acres

      Hutchinson Island Development Opportunity

      0.85-acre parcel ideal for coastal development in Jensen Beach.
      9461 S Ocean Dr, Jensen Beach, FL 34957
      View Details
    • $1,900,000
      0.85 Acres

      Hutchinson Island Development Opportunity

      0.85-acre parcel ideal for coastal development in Jensen Beach.
      9461 S Ocean Dr, Jensen Beach, FL 34957
      View Details
    • $4,905,000
      14 SF

      Multi-Family Site in Stuart, FL

      Proposed multi-family site near Downtown Stuart, the Treasure Coast.
      NE Savannah Rd. & Baker Rd, Jensen Beach, FL 34957
      View Details
    • $1,900,000
      0.85 Acres

      Hutchinson Island Development Opportunity

      0.85-acre parcel zoned HIRD, ideal for coastal development.
      9461 S Ocean Dr S, Jensen Beach, FL 34957
      View Details
    • $3,450,000

      Commercial Land Near I-95

      15-acre commercial land with frontage on Okeechobee Road.
      Okeechobee Rd & Hartman Rd, Fort Pierce, FL 34957
      View Details

    Similar Nearby for Lease

    • $21 SF/Yr
      1,890 SF

      High-Traffic Retail Center Near Beach

      Retail center with strong co-tenancy and high visibility.
      4232-4392 NE Ocean Blvd, Jensen Beach, FL 34957
      View Details
    • Contact for pricing
      4,473 SF

      Retail Space on Jensen Beach

      Retail space with high ceilings and immediate availability.
      1119 NE Jensen Beach Blvd, Jensen Beach, FL 34957
      View Details
    • Contact for pricing
      109,326 SF

      Jensen Beach Retail Center

      Prime Retail Space Available, 7,277 SF
      4163 Federal Hwy, Jensen Beach, FL 34957
      View Details
    • Contact for pricing
      7,000 SF

      Spacious Commercial Space with Bar

      7,000 SF space with bar and kitchen in Jensen Beach.
      2285 NE Dixie Hwy, Jensen Beach, FL 34957
      View Details
    • $1,200 /Mo

      Waterfront RV Lot in Jensen

      Paved RV lot with dock access in Windmill Village.
      10851 S Ocean Dr, Jensen Beach, FL 34957
      View Details
    • $21 SF/Yr
      32,045 SF

      High-Traffic Retail Center Near Beach

      Commercially zoned retail center with high visibility and ample parking.
      4392 NE Ocean Blvd, Jensen Beach, FL 34957
      View Details
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    Jensen Beach, FL 34957-4112
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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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