Updated
For Sale
$299,900
Pending
1025 CHIPOLA Road, Fort Pierce, FL 34950
Two-unit residential property with improvements to both interiors and shared building systems.
Property Size1,760 SF
Days on Market65
Property Features for 1025 CHIPOLA Road
General Information
Standard status
Pending
Size
1,760 SF
Property subtype
Duplex
Additional Details
Gross Income
$34,200
Multifamily Units
2
Building Details
Year Built
1954
Construction
CBS
Listing Agency:
Approved Realty Solutions, Inc
(954) 671-0120
Listed By:
Patrick Jones
(305) 342-2378
Source:
Lehmannflorida
Added: Aug 13
Changed: Oct 15
Last Checked: Oct 16 at 9:09AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Approved Realty Solutions, Inc
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Investment Insights
Based on property information with market context.
This two-unit residential property offers 1,760 square feet overall, including approximately 1,600 square feet under air. The concrete-block duplex was built in 1954 and has received updates to both units and the building’s major components. Unit A features a remodeled kitchen with new cabinetry, countertops, and appliances, along with a refreshed bathroom and new interior paint. Unit B includes updated countertops, interior paint, ceiling fans, and fixtures.
Building improvements include multi-zone split air-conditioning systems serving both units, a new water heater, exterior painting, and updated ceiling fans. The property is located at 1025 Chipola Road in Fort Pierce, Florida, providing a two-unit configuration for residential income use.
Building improvements include multi-zone split air-conditioning systems serving both units, a new water heater, exterior painting, and updated ceiling fans. The property is located at 1025 Chipola Road in Fort Pierce, Florida, providing a two-unit configuration for residential income use.
Key Highlights
- Two‑unit duplex with 1,760 square feet overall
- Approximately 1,600 square feet under air
- Concrete‑block construction; built in 1954
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,846
Cap Rate
8.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$516,920
$516.9K
Cap Rate 7%
$369,229
$369.2K
Cap Rate 9%
$287,178
$287.2K
Market Conditions
NOI Build-Up for 1,760 SF
Gross rent
$39.1K $22.20/SF
− Vacancy
−$2.1K −$1.22/SF
EGI
$36.9K $20.98/SF
− OpEx
−$11.1K −$6.29/SF
NOI
$25.8K $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 Rate 5%
$516,920
Cap Rate 7%
$369,229
Cap Rate 9%
$287,178
Alternative Uses
Best Use
Multifamily LT 5
$369.2K
$323.1K – $430.8K
NOI $25,846 @ 7.0% cap · market cap 8.62%
Second Best
Apartment 5plus
$342.8K
$300.0K – $400.0K
NOI $23,997 @ 7.0% cap · market cap 8.00%
Theoretical Best
Office A
$442.6K
$387.3K – $516.4K
NOI $30,983 @ 7.0% cap · market cap 10.33%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
740
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with improvements to both interiors and shared building systems.
Where is this duplex located?
The property is located at 1025 CHIPOLA Road Fort Pierce, FL.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,760 square feet overall; Approximately 1,600 square feet under air; Concrete‑block construction; built in 1954
