701 Tarpon AveStuart, FL 34994

Property Details for 701 Tarpon Ave

Year built

1958

Lot size

0.20 AC

Property size (Sq ft)

7,048 SF

Property type

Residential income homes

Property subtype

Serviced apartments

APN

04-38-41-017-008-00220-4

APU

43841017008002204

Description

This exceptional 7,048 square foot special purpose building in Stuart, Florida, presents a compelling investment opportunity. Located at 701 SE Tarpon Avenue, this 34-unit property boasts a prime location, situated near the Police Station and within a newly zoned redevelopment area. Built in 1958, the property currently generates a gross net operating income of $252,960.00. The existing business model focuses on providing rental rooms to honorably discharged veterans, a niche market offering consistent revenue. The property's strategic location in a rapidly growing city like Stuart, within Martin County (zip code 34994), ensures strong potential for future appreciation. The building's substantial size and established income stream make it an attractive proposition for investors seeking a stable and profitable venture. This is a rare chance to acquire a well-established property in a thriving Florida community, offering both financial returns and the satisfaction of serving a deserving population. The asking price is $2,150,000. The lot size is not specified.

• CAP approach

  CAP return

  Valuation

  6%

  $3,400,506

  6.5%

  $3,138,928

  7%

  $2,914,719

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,784,739

  Geo Method

  $2,784,739

• Alternative Use

  Use

  Valuation

  Residential

  $3,138,928

  Hospitality

  $2,875,242

  Educational

  $2,392,167

  Medical

  $2,474,438

  Retail

  $3,721,149

Location Insight

City

Stuart

County

Martin

State

Florida

Latitude

27.1937

Longitude

-80.2409

CBSA code

38940

CBSA name

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

Property Tax & Assessments

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