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Property profile & analytics
OFF-MARKET
Estimated value
$1,700,000
Manufacturing properties
704 Farmers Market Rd, Fort Pierce, FL 34982-6652
Individually Owned
23-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-1418963
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1994
Construction
METAL FRAME
Total area
12,000 SF
Lot
1.45 ac (63,019 SF)
Zoning code
LIGHT INDU
APN
2427-601-0023-000-9
UPID
US18-1418963
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
$1.30M
Comparable Approach
Comparable
$2.21M
Blend (final)
Blend
$1.70M
Owner & transaction history
Michael S Venditti · 23 yrs held
Michael S Venditti
since 2002
2 recorded transactions
Zoning & alternative use
LIGHT INDU · Fort Pierce, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$2.7M
+56.4%
Retail stores
$2.4M
+39.9%
Medical building
$2.3M
+31.5%
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 Fort Pierce submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fort Pierce 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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,410,000
6.5%
$1,300,000
7%
$1,210,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,730,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$2,710,000
Change: +56% · Conversion: Difficult
RETAIL STORES
$2,420,000
Change: +40% · Conversion: Moderate
MEDICAL BUILDING
$2,275,000
Change: +31% · Conversion: Difficult
OFFICE BUILDING
$2,135,000
Change: +23% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,455,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$1.70M
Range $1.53M – $1.87M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$142 / SF
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
$33,604
Tax year 2023
Assessed value
$1,870,700
Assessed 2023
Previous assessed
$1,017,842
+83.8% YoY
Effective rate
1.80%
On assessed value
Assessed land
$383,800
Assessed improvement
$1,486,900
Land market value
$383,800
Improvement market value
$1,486,900
Total market value
$1,870,700
Applied tax rate
22.0000
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
1994
Construction
METAL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
2
Stories
1
Units
1
Rooms
30
Total area
12,000 SF
Lot
1.45 ac (63,019 SF)
Zoning code
LIGHT INDU
APN
2427-601-0023-000-9
UPID
US18-1418963
Jurisdiction
ST LUCIE
Zoning & alternative use
LIGHT INDU · Fort Pierce, FL
Zoning LIGHT INDU · permitted uses
LIGHT INDU · Fort Pierce, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fort Pierce. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.7M
RETAIL STORES
Est. value
$2.4M
MEDICAL BUILDING
Est. value
$2.3M
OFFICE BUILDING
Est. value
$2.1M
WAREHOUSE, STORAGE
Est. value
$1.5M
INDUSTRIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
MEDICAL BUILDING
OFFICE BUILDING
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1994
Construction
METAL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Units
1
Rooms
30
Lot
1.45 ac
Current owner
From public records · entity-resolved
Michael S Venditti
Individual
Mailing address
620 MARTELLO WAY, MELBOURNE, FL 32901-6628
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2002
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 2, 2002
$700,000
Michael S Venditti
Drawdy,phillip M
Grant Deed
$300,000 · Indian River National Bank
Jul 7, 1997
$165,000
Gary Ashton
Johnson Trust
Grant Deed
$150,000 · Seller
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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