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Property profile & analytics
OFF-MARKET
Manufacturing properties
603 Mercantile Pl Port Saint Lucie, FL 34986-2258
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US18-1287443
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
2006
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
22,500 SF
Lot
1.55 ac (67,562 SF)
Zoning code
GENERAL US
APN
3323-681-0002-000-8
UPID
US18-1287443
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Mercantile Property 2 LLC
Mercantile Property 2 LLC
since 2025
Last sale
$3.9M
5 recorded transactions
Zoning & alternative use
GENERAL US · Port Saint Lucie, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Port Saint Lucie submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Port Saint Lucie submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$50,407
Tax year 2023
Assessed value
$2,206,500
Assessed 2023
Previous assessed
$1,661,368
+32.8% YoY
Effective rate
2.28%
On assessed value
Assessed land
$380,000
Assessed improvement
$1,826,500
Land market value
$380,000
Improvement market value
$1,826,500
Total market value
$2,206,500
Applied tax rate
11.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
2006
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
8
Total area
22,500 SF
Lot
1.55 ac (67,562 SF)
Zoning code
GENERAL US
APN
3323-681-0002-000-8
UPID
US18-1287443
Jurisdiction
ST LUCIE
Zoning & alternative use
GENERAL US · Port Saint Lucie, FL
Zoning GENERAL US · permitted uses
GENERAL US · Port Saint Lucie, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Port Saint Lucie. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2006
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
8
Lot
1.55 ac
Current owner
From public records · entity-resolved
Mercantile Property 2 LLC
Entity
Mailing address
759 SW FEDERAL HWY STE #217, STUART, FL 34994-2972
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 17, 2025
$3,937,500
Mercantile Property 2 LLC
Ted Glasrud Associates Fl LLC
Special Warranty Deed
$2,500,000 · Continental Life Insurance Company
Sep 15, 2014
$950,000
Ted Glasrud Associates Fl LLC
Rsw Family LP
Grant Deed
—
Jul 6, 2009
—
Rsw Family
Weinberg S 1989 Trust
Grant Deed
—
Oct 5, 2005
$199,400
Weinberg Sharon T 1989 Trust
Bco Group Psl INC
Warranty Deed
—
Jun 16, 2004
$484,600
Bco Group Psl INC
St Lucie West Dev Co LLC
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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