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4648 SE Park Drive
About This Property
Pocket, 4648 SE Park Drive presents a rare opportunity to acquire a redevelopment site within one of Martin County's most recognizable waterfront districts.
This offering derives its greatest value from its exceptional location and redevelopment potential. The existing 520-square-foot structure provides flexibility for interim occupancy or redevelopment, while the surrounding neighborhood continues to evolve into one of South Florida's premier boutique dining, hospitality, and entertainment destinations.
Positioned within the Port Salerno Community Redevelopment Area (CRA), the property benefits from an area that has received significant public investment focused on pedestrian-friendly street scapes, infrastructure improvements, waterfront activation, and mixed-use redevelopment.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
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About Port Salerno
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017