REAL ESTATE
Lowe sold those offices and opened Lowe Realty in the
former strip center that stood behind the current office. It
was in 2010 that Bob completed the build-out of a planned
office for a project that fell through, and established Lowe’s
International Realty.
DISCOVERY ISLAND
The Lowes are quite familiar with the island, having lived
in Queen’s Cove and The Sands before moving to Breakers
Landing 30 years ago. They saw the potential growth in their
business by opening an office on it.
“No. 1, we lived on the island; we loved the island,” Lowe
said. “We loved what the possibilities of the island could be
when developed.
“Our beaches are beautiful; we have fishing; we have a
new bridge coming in; we have an airport with Customs; and
plenty of golf courses in the area,” he said.
First-year sales provided an omen of what was to come for
the company.
“We did pretty well, but there wasn’t any competition on
the island,” Lowe said.
Some refer to Lowe as “Mr. North Beach.” His reaction:
“Sounds good. I’ve been here forever.”
Sharon calls North Hutchinson Island “a diamond in the
rough, because people don’t realize it’s still so pristine and
it’s going to stay that way.
“I think the values are just going to go up, that’s what our
total belief is, especially when you see what Vero gets opposed
44
to us,” she said. “I think there’s no place to go but up.”
According to Realtor.com, the median listing price in North
Hutchinson Island in December was $649,000, compared to
$2.4 million in The Moorings community located north of the
St. Lucie/Indian River county line on A1A.
When it comes to addressing their clients’ residential,
rental, waterfront and commercial property needs, the Lowes
have a talented six-member staff. The team did $30 million in
sales last year, mostly on the island … and mostly cash deals,
according to Lowe.
As for 2023, “I think it’s going to be good; I really do,”
Lowe predicted. “There’s still a shortage of homes. The prices
dropped a little bit because of the financing rising interest
rates. Now the interest rates are starting to go back down.
And I think that the market is going to be good. The last half
of the year is really going to be strong.”
COMMERCIAL LOT LOWDOWN
As for commercial real estate, one has to trust Lowe’s
track record.
“My real success in life has been as a commercial broker,”
said Lowe, who also owns and operates Lowe Realty Corp. “I
know what I know and that is commercial — hotels, casinos
and the international business.
“The island has only one problem — there’s no place to
open a business right now,” he said. “This is it the 9.5-acre
mixed-used lot on which his office stands and the hotel site.”
Both properties were casualties of the destructive winds of
hurricanes Frances and Jeanne in September 2004.
Lowe has sold the property three times, but has yet to see
it developed. It even comes with access to the Intracoastal
Waterway via a canal in the back of it.
Designs for the property have already been approved by
the county, according to Lowe. “Plans for the three-story >>
Bob Lowe sold this 11.8-
acre lot – zoned for a
hotel, commercial and
commercial hotel – to a
Vero Beach-based investor.
JOE DESALVO
/Realtor.com
