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    Property profile & analytics

    640 Ocean Blvd Stuart, FL 34994-2317

    • Medical Office Space
    • 3,489 SF
    • 0.34 lot acres
    OFF-MARKET
    Value Estimations
    $560,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2819144
    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

    • Kilgallen Keith S DDS / Dental Office
    • Hall Eric G MD / Physician
    • Jacob’s Mobile Detailing / Car Wash

    Property Details for 640 Ocean Blvd

    Year built
    1983
    Lot size
    0.34 lot acres
    Property size
    3,489 SF
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    04-38-41-005-001-00010-7
    APU
    43841005001000107

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $795,000
      6.5%
      $735,000
      7%
      $680,000

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $830,000
      Current use
      COMMERCIAL (GENERAL)
      $855,000
      Change: +3% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Stuart
    County
    Martin
    State
    Florida
    Longitude
    -80.2423
    Latitude
    27.1972
    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
    $13,108
    $233,600
    $495,560
    $729,160
    -
    $233,600
    $495,560
    $729,160

    Comparable in this City

    • Value Estimation
      $5,735,000
      38,892 SF

      3441 Willoughby Blvd

      MEDICAL BUILDING • 38,892 SF
      3441 Willoughby Blvd, Stuart, FL 34994-5060
      View Details
    • Value Estimation
      $18,285,000
      87,393 SF

      3801 Kanner Hwy

      MEDICAL BUILDING • 87,393 SF
      3801 Kanner Hwy, Stuart, FL 34994-4801
      View Details
    • Value Estimation by Request
      2,764 SF

      841 Ocean Blvd

      MEDICAL BUILDING • 2,764 SF
      841 Ocean Blvd, Stuart, FL 34994-2427
      View Details
    • Value Estimation
      $1,440,000
      8,855 SF

      2648 Federal Hwy

      MEDICAL BUILDING • 8,855 SF
      2648 Federal Hwy, Stuart, FL 34994-9318
      View Details
    • Value Estimation
      $560,000
      4,536 SF

      987 Monterey Rd

      MEDICAL BUILDING • 4,536 SF
      987 Monterey Rd, Stuart, FL 34994-4508
      View Details
    • Value Estimation
      $740,000
      5,790 SF

      915 Ocean Blvd

      MEDICAL BUILDING • 5,790 SF
      915 Ocean Blvd, Stuart, FL 34994-2426
      View Details

    Similar Nearby for Sale

    • $600,000
      3,476 SF

      Ocean Blvd Medical Office Building

      Prime Stuart, FL Medical Office - Owner/User
      816 Ocean Blvd, Stuart, FL 34994
      View Details
    • Contact for pricing
      3,476 SF

      Medical Office Building For Sale

      High-profile medical office with flexible floor plan and ample parking.
      816 SE Ocean Blvd, Stuart, FL 34994
      View Details
    • $1,299,000
      2,184 SF

      Stuart Office Space For Sale

      Office space available in Stuart, Florida.
      101 SE Martin Luther King Jr Blvd, Stuart, FL 34994
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    • Contact for pricing
      22,500 SF

      Stuart Office Building For Sale

      22,500 SF office building in growing downtown Stuart.
      851 SE Johnson Ave, Stuart, FL 34994
      View Details
    • Contact for pricing

      Co-working Studio Rentals Available

      Co-working studio rentals of multiple sizes are available for sale.
      901 SE Johnson Ave, Stuart, FL 34994
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    • $7,250,000

      Waterfront Property in Downtown Stuart

      Rare waterfront property with redevelopment potential in downtown Stuart, Florida.
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    Similar Nearby for Lease

    • $4,000 /Mo

      Downtown Stuart Commercial Space Available

      Commercial space in downtown Stuart, suitable for office or retail.
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    • $22 SF/Yr
      2,576 SF

      Central Parkway Office Space

      Prime Stuart, FL Office: 2,576 sq ft
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      Downtown Stuart Commercial Spaces

      Multiple units, prime location, flexible spaces.
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    • $26 SF/Yr
      33,726 SF

      Downtown Stuart Office Condo

      Turnkey Medical/Office Suite, Ample Parking
      900 Ocean Blvd, Stuart, FL 34994
      View Details
    • $16 SF/Yr
      172,000 SF

      Regency Square Shopping Center

      Medical Office Space • 172,000 SF
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      View Details
    • $40 SF/Yr
      10,741 SF

      Heritage Hall Office Suites

      Prime Stuart Office Space Available
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      View Details
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    640 Ocean Blvd
    Stuart, FL 34994-2317
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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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