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

    938 Martin Downs Blvd Palm City, FL 34990-2816

    • Community centers
    • 13,280 SF
    • 1.22 lot acres
    OFF-MARKET
    Value Estimations
    $1,575,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3643923
    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

    • Dr. Kenneth L. Holling, MD / Physician
    • pulmonologist in stuart fl / Physician
    • Stuart Lung / Sailfish Medical Group / Suboxone Treasure Coast / Medical Clinic
    • Chelsea Engel / Physician
    • Udzinski Jenna / Employment Agency

    Property Details for 938 Martin Downs Blvd

    Year built
    1986
    Lot size
    1.22 lot acres
    Property size
    13,280 SF
    Property type
    Community centers
    APN
    17-38-41-010-002-00050-1
    APU
    173841010002000501

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,122,000
      Market price range: $1.53M - $2.70M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,960,000
      Current use
      INDUSTRIAL (GENERAL)
      $2,515,000
      Change: +28% Conversion: Difficult
      WAREHOUSE, STORAGE
      $1,925,000
      Change: -2% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Palm City
    County
    Martin
    State
    Florida
    Longitude
    -80.2666
    Latitude
    27.172
    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
    $26,019
    $464,280
    $1,207,890
    $1,672,170
    -
    $464,280
    $1,207,890
    $1,672,170

    Comparable in this City

    • Value Estimation
      $5,840,000
      49,599 SF

      1395 Martin Hwy

      MINI-MALL • 49,599 SF
      1395 Martin Hwy, Palm City, FL 34990-3373
      View Details
    • Value Estimation
      $13,850,000
      120,332 SF

      3078 Martin Downs Blvd

      MINI-MALL • 120,332 SF
      3078 Martin Downs Blvd, Palm City, FL 34990-2643
      View Details
    • Value Estimation
      $2,200,000
      5,452 SF

      3235 Mapp Rd

      MINI-MALL • 5,452 SF
      3235 Mapp Rd, Palm City, FL 34990-3330
      View Details
    • Value Estimation
      $835,000
      3,300 SF

      1125 Martin Downs Blvd

      MINI-MALL • 3,300 SF
      1125 Martin Downs Blvd, Palm City, FL 34990-2859
      View Details
    • Value Estimation
      $5,835,000
      49,539 SF

      3001 Martin Downs Blvd

      MINI-MALL • 49,539 SF
      3001 Martin Downs Blvd, Palm City, FL 34990-2644
      View Details
    • Value Estimation
      $1,435,000
      10,220 SF

      2909 High Meadows Ave, Unit A-8

      MINI-MALL • 10,220 SF
      2909 High Meadows Ave, Palm City, FL 34990-2646
      View Details

    Similar Nearby for Sale

    • $200,000

      Profitable Car Wash Business Opportunity

      Established car wash business for sale in high-traffic location.
      1155 SW Martin Downs Blvd, Palm City, FL 34990
      View Details
    • $895,000

      Shell Gas Station For Sale

      Gas station with food mart and carwash for sale.
      Confidential, Palm City, FL 34990
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    • $950,000
      4,940 SF

      Palm City Industrial Warehouse

      4,940 SF Warehouse, Prime Location
      3395 42Nd Ave, Palm City, FL 34990
      View Details
    • $7,500,000

      62.5 Acres Near I-95

      62.5 acre parcel zoned for agricultural ranchettes near I-95.
      0000 SW Green Ridge Ln, Palm City, FL 34990
      View Details
    • $1,675,000
      1.01 Acres

      Secluded Palm City Residential Lot

      Rare 1-acre lot with dock slip and architectural plans.
      3233 NW Dockage Way, Palm City, FL 34990
      View Details
    • Contact for pricing

      Permit-Ready Industrial Lots Available

      Industrial lots for sale in a growing area.
      2049 SW Poma Dr, Palm City, FL 34990
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    Similar Nearby for Lease

    • Contact for pricing
      1,600 SF

      Retail Space in Palm City

      Retail space anchored by Cleveland Clinic and national retailers.
      3078-3120 SW Martin Downs Blvd, Palm City, FL 34990
      View Details
    • Contact for pricing
      5,258 SF

      Retail Space in Palm City

      Retail property with high visibility and strong demographics.
      3036-3066 SW Martin Downs Blvd, Palm City, FL 34990
      View Details
    • Contact for pricing
      2,446 SF

      Retail Space in Palm City

      Retail space with high visibility and accessibility in Palm City.
      3228 SW Martin Downs Blvd, Palm City, FL 34990
      View Details
    • Contact for pricing
      3,705 SF

      Retail Space in Palm City

      Retail space available in a busy Palm City location.
      3003-3027 SW Martin Downs Blvd, Palm City, FL 34990
      View Details
    • $2,800 /Mo
      11,935 SF

      Retail Space in Palm City

      Versatile retail space with natural light and prominent signage.
      900 SW Martin Downs Blvd, Palm City, FL 34990
      View Details
    • $40 SF/Yr
      3,000 SF

      Prime Palm City Office Space

      3,000 sq ft Office, Single Tenant
      2740 Mapp Rd, Palm City, FL 34990
      View Details
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    Palm City, FL 34990-2816
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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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