REAL ESTATE
14
TCBusiness.com
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 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 mixedused
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 complex
include 70 units with shops below the
front condos.”
“We’re hungry for it here,” Sharon said.
“We’ve met a lot of people who are interested.”
>>
Bob Lowe sold this 11.8-acre
lot – zoned for a hotel,
commercial and commercial
hotel – to a Vero Beachbased
investor.
JOE DESALVO
/TCBusiness.com
/Realtor.com
