Two-Unit CBS
New
For Sale
$270,000
1205 AVENUE L, Fort Pierce, FL 34950
Residential Income, Fort Pierce, FL
Property Size1,248 SF
Lot Size0.16 Acres
Price / SF$216.35
Days on Market6
Property Features for 1205 AVENUE L
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Medium Den
Bedrooms
4
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 3
Pets allowed
No, Yes
Subdivision
PROSPERITY PARK
Standard status
Active
APN
240480100540008
Size
1,248 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PROSPERITY PARK BLK 3 LOT 3
Tax Annual Amount
3905
Legal Description
PROSPERITY PARK BLK 3 LOT 3
Utilities
Sewer type
Public Sewer
Cooling system
Ductless
Water source
Public
Amenities
mini splits
Building Details
Year built
1966
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
Block, CBS
Roof type
Composition, Shingle
Listing Agency:
EXP Realty LLC
(888) 883-8509
Listed By:
Ethan McAuliffe PA · License #3348418
(772) 359-0300
Added: Sep 18
Changed: Sep 22
Last Checked: Sep 23 at 3:06AM
MLS# B26078277
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex contains two separate residences, each arranged with two bedrooms and one bathroom. The property totals 1,248 square feet on a 0.16-acre lot, with block/CBS construction, tile flooring, composition shingle roofing, and ductless mini-split air conditioning. Built in 1966, the building is fully rented and connected to public water and public sewer.
Located at 1205 Avenue L in Fort Pierce, the property is described as being near downtown and the beaches. The zoning designation is Medium Den. Each side provides a straightforward residential layout, supported by four bedrooms and two bathrooms across the building.
Located at 1205 Avenue L in Fort Pierce, the property is described as being near downtown and the beaches. The zoning designation is Medium Den. Each side provides a straightforward residential layout, supported by four bedrooms and two bathrooms across the building.
Key Highlights
- Two‑unit duplex with a 2/1 layout on each side
- 1,248 square feet on a 0.16‑acre lot
- Fully rented
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$18,327
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.79%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$366,540
$366.5K
Cap Rate 7%
$261,814
$261.8K
Cap Rate 9%
$203,633
$203.6K
Market Conditions
NOI Build-Up for 1,248 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$27.7K $22.20/SF
− Vacancy
−$1.5K −$1.22/SF
EGI
$26.2K $20.98/SF
− OpEx
−$7.9K −$6.29/SF
NOI
$18.3K $14.69/SF
Area
St. Lucie County, FL
Vacancy
5.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$366,540
Cap Rate 7%
$261,814
Cap Rate 9%
$203,633
Alternative Uses
Best Use
Multifamily LT 5
$261.8K
$229.1K – $305.5K
NOI $18,327 @ 7.0% cap · market cap 6.79%
Second Best
Apartment 5plus
$243.1K
$212.7K – $283.6K
NOI $17,016 @ 7.0% cap · market cap 6.30%
Theoretical Best
Office A
$313.9K
$274.6K – $366.2K
NOI $21,970 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
495
Businesses Nearby
Explore this area
Business Placement
Demographics for 34950, FL
16,582
Population
8,055
Households
2.1
Avg Household Size
37
Median Age
14%
College-Educated
64%
High-School Grad
5.2 sq mi
ZIP Area
3,189
Density / Sq Mi
$32,707
Median Household Income
$29,214
Median Earnings
$1,121
Median Rent
$175,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer two bedrooms, one bathroom, and ductless cooling.
Where is this duplex located?
The property is located at 1205 AVENUE L Fort Pierce, FL.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Two‑unit duplex with a 2/1 layout on each side; 1,248 square feet on a 0.16‑acre lot; Fully rented
