Commercially Zoned
New
For Sale
$600,000
4004 N US HIGHWAY 1, Fort Pierce, FL 34946
Residential Income, St. Lucie Village, FL
Property Size2,244 SF
Lot Size0.42 Acres
Price / SF$267.38
Days on Market3
Property Features for 4004 N US HIGHWAY 1
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
Commercial
Bedrooms
3
Full bathrooms
4
Rooms
Bedroom 2, Bathroom 1, Bathroom 3, Bathroom 2, Bathroom 4, Bedroom 1, Bedroom 3
Window features
Blinds
Fencing
Chain Link, Fenced
Subdivision
HILLVIEW
Lot features
Irregular Lot, Landscaped
Directions
US Highway 1 south about 2 miles past county line on East side of US 1.
Standard status
Active
APN
142160300140008
Size
2,244 SF
Lot size
0.42 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
HILLVIEW LOTS 14 AND 15-LESS RD R/W- (OR 3955-2505)
Tax Annual Amount
5339
Expense value
50
Expense
Application Fee
Expense freq.
One Time
Legal Description
HILLVIEW LOTS 14 AND 15-LESS RD R/W- (OR 3955-2505)
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Well
Building Details
Year built
1970
Floors in Building
1
Number of units
4
Flooring type
Tile
Building materials
Block, Concrete Block - With Stucco
Roof type
Metal, Aluminum
Additional Structures
RV/Boat Storage
Listing Agency:
Dale Sorensen Real Estate Inc.
(772) 231-4712
Listed By:
James R. Goldsmith · License #672330
(772) 473-6418
Added: Sep 19
Changed: Sep 20
Last Checked: Sep 21 at 1:06AM
MLS# B26078207
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 2,244-square-foot quadplex was built in 1970 and currently operates as a multifamily property with four apartments. The income-producing configuration also includes boat or RV storage, warehouse storage, and billboard income. The building features concrete-block construction with stucco, tile flooring, central heating and cooling, a metal and aluminum roof, chain-link fencing, well water, and a septic tank.
The 0.42-acre property is located at 4004 N US Highway 1 in St. Lucie Village, approximately 2 miles south of Vero Beach. It has 109 feet of frontage along US Highway 1 and carries Commercial zoning. Cable service is available. The property offers a combination of residential units and storage-related improvements within its existing commercial zoning framework.
The 0.42-acre property is located at 4004 N US Highway 1 in St. Lucie Village, approximately 2 miles south of Vero Beach. It has 109 feet of frontage along US Highway 1 and carries Commercial zoning. Cable service is available. The property offers a combination of residential units and storage-related improvements within its existing commercial zoning framework.
Key Highlights
- Four apartments with current multifamily use
- 2,244‑square‑foot property on 0.42 acres
- 109 feet of frontage on US Highway 1
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
$32,954
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
5.49%
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%
$659,080
$659.1K
Cap Rate 7%
$470,771
$470.8K
Cap Rate 9%
$366,156
$366.2K
Market Conditions
NOI Build-Up for 2,244 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
$49.8K $22.20/SF
− Vacancy
−$2.7K −$1.22/SF
EGI
$47.1K $20.98/SF
− OpEx
−$14.1K −$6.29/SF
NOI
$33.0K $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%
$659,080
Cap Rate 7%
$470,771
Cap Rate 9%
$366,156
Alternative Uses
Best Use
Multifamily LT 5
$470.8K
$411.9K – $549.2K
NOI $32,954 @ 7.0% cap · market cap 5.49%
Second Best
Apartment 5plus
$437.1K
$382.5K – $509.9K
NOI $30,596 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$564.3K
$493.8K – $658.4K
NOI $39,503 @ 7.0% cap · market cap 6.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
74
Businesses Nearby
Explore this area
Business Placement
Demographics for 34946, FL
6,793
Population
3,435
Households
2
Avg Household Size
42
Median Age
14%
College-Educated
72%
High-School Grad
15.2 sq mi
ZIP Area
447
Density / Sq Mi
$40,488
Median Household Income
$27,591
Median Earnings
$1,000
Median Rent
$128,100
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Current multifamily use includes four apartments along with boat, RV, and warehouse storage.
Where is this quadplex located?
The property is located at 4004 N US HIGHWAY 1 Fort Pierce, FL.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Four apartments with current multifamily use; 2,244‑square‑foot property on 0.42 acres; 109 feet of frontage on US Highway 1
