511 NE 3RD St

Ownership and recorded sale history

What has actually traded in Federal Highway Corridor

Recorded transactions for retail properties in the Federal Highway pairs and the blocks east of downtown toward the Intracoastal, narrowed to the buildings closest to this one in size and age.

Reading this against the corridor

The county assesses this building at $730/SF. Recorded sales of retail properties in Federal Highway Corridor since 2021 have a median of $759/SF, across a range of $578/SF to $1,667/SF.

Across those 8 recorded sales, the median sale price came in at 1.31× the county assessed value. Assessed values are set for taxation and are reset on their own schedule, so they routinely sit apart from transaction prices — in either direction.

At 1,232 SF this is a smaller building than the 2,251 SF median for retail properties trading here. Smaller footprints in this segment typically transact at a higher price per square foot.

By footprint it sits in roughly the 10th percentile of retail properties that have traded in this corridor — 35 of the 39 recorded sales were of larger buildings.

The assessment works out 4% below the median price per square foot of the comparable sales shown below. That is an arithmetic comparison of a tax figure against transaction prices, not a statement about what this building would sell for.

The lot runs 3.9× the building footprint — 4,825 SF of land under 1,232 SF of structure. Ratios that wide are usually where expansion or redevelopment questions start.

What this means for this building depends on what no public record contains — the leases, the condition, the rent roll.

Recorded sales of comparable size and vintage