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    8800 Brg Rd Hobe Sound, FL 33455-5309

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    8800 Brg Rd Hobe Sound, FL 33455-5309

    View on Map
    • Drug stores
    • 9,669 SF
    • 2.74 lot acres
    Off-Market
    Last Sale Jul 23, 2024
    $45,900
    Property ID
    US18-4817827
    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.
    Value Estimations
    $3,075,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • CVS Photo / (Bike/Boat/Book/etc) Store
    • CVS / Pharmacy
    • CVS Pharmacy / Pharmacy
    • CDReload - Online Bitcoin ATM / Crypto Atm / Atm
    • UPS Access Point location / Courier Service / Postal Service

    Property Details for 8800 Brg Rd

    Year built
    1996
    Lot size
    2.74 lot acres
    Property size
    9,669 SF
    Property type
    Drug stores
    APN
    34-38-42-000-086-00020-6
    APU
    343842000086000206

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,773,000
      Market price range: $1.38M - $3.86M
      AI Estimate
      $2,372,000
      Market price range: $674k - $2.37M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,610,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $4,585,000
      Change: +76% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $2,565,000
      Change: -2% Conversion: Easy
      MEDICAL BUILDING
      $2,305,000
      Change: -12% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Hobe Sound
    County
    Martin
    State
    Florida
    Longitude
    -80.1355
    Latitude
    27.0594
    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
    $38,083
    $1,153,260
    $1,133,120
    $2,286,380
    -
    $1,153,260
    $1,133,120
    $2,286,380

    Comparable in this City

    • Value Estimation
      $1,590,000
      6,765 SF

      11675 Federal Hwy

      RETAIL STORES (PERSONAL SERVICES) • 6,765 SF
      11675 Federal Hwy, Hobe Sound, FL 33455-5212
      View Details
    • Value Estimation
      $920,000
      5,795 SF

      11181 Federal Hwy

      RETAIL STORES (PERSONAL SERVICES) • 5,795 SF
      11181 Federal Hwy, Hobe Sound, FL 33455-5128
      View Details
    • Value Estimation by Request
      1,809 SF

      9025 Brg Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,809 SF
      9025 Brg Rd, Hobe Sound, FL 33455-5314
      View Details
    • Value Estimation
      $8,925,000
      29,460 SF

      8605 Federal Hwy

      GROCERY, SUPERMARKET • 29,460 SF
      8605 Federal Hwy, Hobe Sound, FL 33455-6026
      View Details
    • Value Estimation
      $2,430,000
      3,687 SF

      11800 Federal Hwy

      FINANCIAL BUILDING • 3,687 SF
      11800 Federal Hwy, Hobe Sound, FL 33455-5305
      View Details
    • Value Estimation
      $915,000
      5,250 SF

      10925 Federal Hwy

      RETAIL STORES (PERSONAL SERVICES) • 5,250 SF
      10925 Federal Hwy, Hobe Sound, FL 33455-5006
      View Details

    Similar Nearby for Sale

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      9,002 SF

      Dollar General NNN Investment Opportunity

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      Hobe Sound Commercial Property

      Versatile commercial property on 2.22 acres with warehouse-style buildings.
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      Hobe Sound Retail/Office Space

      Prime retail or office space in Hobe Sound, Florida.
      11181 SE Federal Hwy, Hobe Sound, FL 33455
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    • $406,224
      6.67 Acres

      Hobe Sound RV & Auto Storage

      Prime Commercial Storage Facility, 64 Units
      0 Federal Hwy, Hobe Sound, FL 33455
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    • Contact for pricing

      48 Acres Premier Development Opportunity

      48 acres with frontage on I-95 and Bridge Rd.
      1760 SE Bridge Rd, Hobe Sound, FL 33455
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    Similar Nearby for Lease

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      1,365 SF

      Modern Retail Spaces For Lease

      New shopping center with spaces for lease, high visibility.
      10455 SE Federal Hwy, Hobe Sound, FL 33455
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    • Contact for pricing
      2,000 SF

      Retail Space in Hobe Sound

      Retail space available in well-established neighborhood shopping center.
      8803-8961 SE Bridge Rd, Hobe Sound, FL 33455
      View Details
    • Contact for pricing
      1,800 SF

      Retail Space in Hobe Sound

      Retail space available in well-established neighborhood shopping center.
      8767-8771 SE Bridge Rd, Hobe Sound, FL 33455
      View Details
    • Contact for pricing

      Upscale Neighborhood Retail and Office

      Retail, office, and restaurant spaces in Hobe Sound.
      5671 SE Crooked Oak Ave, Hobe Sound, FL 33455
      View Details
    • Contact for pricing

      Martin Landings Plaza Retail Opportunity

      2,044 SF unit suitable for office or retail.
      10441 SE Federal Hwy, Hobe Sound, FL 33455
      View Details
    • Contact for pricing
      200 SF

      Retail Building in Hobe Sound

      Retail building with offices, community room, and coffee shop.
      11800 SE Dixie Hwy, Hobe Sound, FL 33455
      View Details
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    Hobe Sound, FL 33455-5309
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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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