816 Ocean BlvdStuart, FL 34994

Property Details for 816 Ocean Blvd

Year built

1984

Lot size

0.47 AC

Property size (Sq ft)

3,476 SF

Property type

Medical offices

Property subtype

Medical centers

APN

04-38-41-021-002-00060-4

APU

43841021002000604

Description

This 3,476 square foot Class C medical office building in Stuart, Florida, presents a unique owner-user opportunity. Situated on a 0.474-acre lot at 816 SE Ocean Blvd, this single-story, 1984-built property boasts ample parking (19+ spaces), excellent visibility, and convenient access. The flexible floor plan includes multiple entrances, at least seven exam rooms, doctor's offices, waiting/reception areas, billing/bookkeeping offices, a lab, storage, and three bathrooms. The property is zoned R-3 (Residential-Multi-Family/Office) and is subject to a ground lease expiring November 30, 2033, with an annual cost of $22,800 and a 30-year renewal option. Its location within Stuart's primary medical district, near the Cleveland Clinic Hospital, ensures high visibility and accessibility. The asking price is $600,000. APN: 04-38-41-021-002-00060-4.

• CAP approach

  CAP return

  Valuation

  6%

  $1,352,589

  6.5%

  $1,248,544

  7%

  $1,159,362

• Comparable approach

  Method

  Valuation

  Relative Method

  $886,067

  Geo Method

  $886,067

• Alternative Use

  Use

  Valuation

  Residential

  $1,548,194

  Hospitality

  $1,418,138

  Educational

  $1,179,874

  Medical

  $1,220,452

  Retail

  $1,835,359

Location Insight

City

Stuart

County

Martin

State

Florida

Latitude

27.1971

Longitude

-80.2397

CBSA code

38940

CBSA name

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

Property Tax & Assessments

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