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

    3503 Okeechobee Rd Fort Pierce, FL 34947-4555

    • Warehouses
    • 6,000 SF
    • 0.66 lot acres
    OFF-MARKET
    Last Sale
    Mar 24, 2023
    $1,350,000
    Value Estimations
    $1,075,000
    Show details
    Cap Rate Potential
    4.8%
    Warehouses
    Location Intelligence
    Property ID
    US18-0776851
    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

    • U-Haul Neighborhood Dealer / Trailer Rental Service / Truck Rental Agency
    • Mr. B Service Center / Lawn Mower Repair Service

    Property Details for 3503 Okeechobee Rd

    Year built
    1974
    Construction
    METAL FRAME
    Lot size
    0.66 lot acres
    Property size
    6,000 SF
    Zone code
    COMM GENRA
    Property type
    Warehouses
    APN
    2417-342-0003-000-8
    APU
    241734200030008

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,060,000
      ML approach
      $1,020,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $855,000
      6.5%
      $790,000
      7%
      $735,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $883,000
      Market price range: $457k - $1.00M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $730,000
      Current use
      AUTO REPAIR, GARAGE
      $1,570,000
      Change: +116% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $1,355,000
      Change: +86% Conversion: Moderate
      RETAIL STORES
      $1,210,000
      Change: +66% Conversion: Moderate
      MEDICAL BUILDING
      $1,140,000
      Change: +56% Conversion: Difficult
      OFFICE BUILDING
      $1,070,000
      Change: +47% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $865,000
      Change: +19% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Pierce
    County
    St. Lucie
    State
    Florida
    Longitude
    -80.3614
    Latitude
    27.4285
    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
    $9,865
    $124,900
    $543,800
    $668,700
    -
    $124,900
    $543,800
    $668,700

    Comparable in this City

    • Value Estimation by Request
      1,396 SF

      1301 Angle Rd

      STORAGE YARD (JUNK, SALVAGE) • 1,396 SF
      1301 Angle Rd, Fort Pierce, FL 34947-1705
      View Details
    • Value Estimation
      $690,000
      6,400 SF

      3301 Ave D D

      WAREHOUSE, STORAGE • 6,400 SF
      3301 Ave D D, Fort Pierce, FL 34947-2536
      View Details
    • Value Estimation
      $885,000
      10,880 SF

      121 Jenkins Rd

      WAREHOUSE, STORAGE • 10,880 SF
      121 Jenkins Rd, Fort Pierce, FL 34947-1512
      View Details
    • Value Estimation
      $575,000
      6,020 SF

      4300 Metzger Rd

      WAREHOUSE, STORAGE • 6,020 SF
      4300 Metzger Rd, Fort Pierce, FL 34947-1719
      View Details
    • Value Estimation by Request
      1,360,000 SF

      7775 Orange Ave

      Distribution properties • 1,360,000 SF
      7775 Orange Ave, Fort Pierce, FL 34947
      View Details
    • Value Estimation by Request
      10,296 SF

      Tbd Orange Ave

      Distribution properties • 10,296 SF
      0 Tbd Orange Ave, Fort Pierce, FL 34947
      View Details

    Similar Nearby for Sale

    • $1,100,000

      Ft. Pierce Warehouse Complex - $1.1M

      15-Unit Metal Warehouse, Flexible Spaces
      600 39Th St, Fort Pierce, FL 34947
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    • $2,225,000
      5.10 Acres

      5001 Orange Ave

      Land • 5.10 Acres
      5001 Orange Ave, Fort Pierce, FL 34947
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    • $359,000
      0.94 Acres

      Industrial Opportunity with Residential Component

      Industrial property with road frontage and a residential home/office.
      4305 Metzger Rd, Fort Pierce, FL 34947
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    • $1,195,000

      Commercial Building on Corner Lot

      2,900 SF commercial building on a highly visible corner lot.
      2807 Okeechobee Rd, Fort Pierce, FL 34947
      View Details
    • $5,500,000
      41,000 SF

      Fort Pierce Self Storage Opportunity

      Class A, 413-unit facility, high ROI
      500 39Th St, Fort Pierce, FL 34947
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    • $1,249,000
      0.25 Acres

      Fort Pierce Commercial Gem

      High-traffic location, renovated buildings
      3328 Orange Ave, Fort Pierce, FL 34947
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    Similar Nearby for Lease

    • $14 SF/Yr
      3,000 SF

      Warehouse Space for Rent

      3,000 sqft warehouse space with easy highway access.
      517 S 33Rd St, Fort Pierce, FL 34947
      View Details
    • $3,000 /Mo
      3,276 SF

      Warehouse with Office and Yard

      3,276 SF warehouse with office, loading dock, and yard.
      1501 S 31St St, Fort Pierce, FL 34947
      View Details
    • $8 SF/Yr
      350,000 SF

      Fort Pierce Industrial Space

      350,000 SF Flex Space, 90,000 SF Available
      4300 Okeechobee Rd, Fort Pierce, FL 34947
      View Details
    • $16 SF/Yr
      7,400 SF

      Fort Pierce Warehouse Complex

      12 Suites, 7,400 SF, 500 SF Available
      600 39Th St, Fort Pierce, FL 34947
      View Details
    • $9,850,000
      10,296 SF

      Industrial Zoned Property For Lease

      17.09-acre industrial zoned property with prime development potential.
      Tbd Orange Ave, Fort Pierce, FL 34947
      View Details
    • $30,000
      69,696 SF

      Fort Pierce Industrial Land for Lease

      1.6-acre industrial lot, prime location.
      561 Angle Rd, Fort Pierce, FL 34947
      View Details
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    3503 Okeechobee Rd
    Fort Pierce, FL 34947-4555
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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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