851 Johnson AveStuart, FL 34994

Property Details for 851 Johnson Ave

Year built

1972

Lot size

1.67 AC

Property size (Sq ft)

22,892 SF

Property type

Office properties

APN

04-38-41-018-000-00220-0

APU

43841018000002200

Description

This 22,500 square foot, Class B medical office building presents a compelling investment opportunity in the heart of Stuart, Florida. Situated on a 1.67-acre lot at 851 SE Johnson Ave, this two-story building boasts solid concrete block construction, a fire sprinkler system, 480/3 phase power, one elevator, and ample parking for 151 vehicles. Built in 1972, the property offers significant potential for redevelopment or continued use as a medical office, corporate headquarters, church, or educational facility. Its prime location in downtown Stuart, between US1 and A1A, places it directly in the path of future growth, especially considering its proximity to the Seacoast Bank redevelopment project. While the building has been well-maintained, some updating is recommended. The property is zoned CS, Creek South, and features a Martin County APN of 04-38-41-018-000-00220-0. The asking price is $3,750,000. This is a rare opportunity to acquire a substantial property in a thriving downtown area with diverse redevelopment possibilities.

• CAP approach

  CAP return

  Valuation

  6%

  $8,085,674

  6.5%

  $7,463,700

  7%

  $6,930,578

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,835,400

  Geo Method

  $5,835,400

• Alternative Use

  Use

  Valuation

  Residential

  $9,254,988

  Hospitality

  $8,477,519

  Educational

  $7,053,196

  Medical

  $7,295,766

  Retail

  $10,971,638

Location Insight

City

Stuart

County

Martin

State

Florida

Latitude

27.1915

Longitude

-80.2495

CBSA code

38940

CBSA name

PORT ST. LUCIE-FORT PIERCE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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