Building Details

Year Built 1963

Stories 2

Listing Agency: LPT Realty, LLC

Listed By: John C DiGirolomo · License #3458838 Show Phone

Source: Compass

Added: Apr 24 Changed: Oct 15 Last Checked: Oct 19 at 9:13AM

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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 LPT Realty, LLC

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Investment Insights

Based on property information with market context.

The property at 1150 Carlton Court is a six-unit multifamily property located in Fort Pierce, Florida. Constructed in 1963, the residential building totals approximately 5,272 square feet and is situated on a parcel of approximately 0.25 acres. The property has recently completed a comprehensive renovation program. The unit mix consists of four one-bedroom, one-bathroom units and two two-bedroom, one-bathroom units. All units are currently vacant, allowing for immediate lease-up at market rents. There are no restrictions on short-term rentals in this municipality.

Key Highlights

• Turnkey investment opportunity due to comprehensive recent renovations.
• All units are vacant, allowing for immediate lease‑up at market rents.
• No restrictions on Short‑Term Rentals (STR), offering flexible investment strategies.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$64,355

Cap Rate

2.80%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,287,100 $1.3M

Cap Rate 7%

$919,357 $919.4K

Cap Rate 9%

$715,056 $715.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,720 SF

Gross rent

$122.9K $26.04/SF

− Vacancy

−$5.9K −$1.25/SF

EGI

$117.0K $24.79/SF

− OpEx

−$52.7K −$11.16/SF

NOI

$64.4K $13.63/SF

Area

St. Lucie County, FL

Vacancy

4.80%

Lease Rate

$26.04 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,287,100

Cap Rate 7%

$919,357

Cap Rate 9%

$715,056

Alternative Uses

Best Use

Apartment 5plus

$919.4K

$804.4K – $1.07M (±1% cap)

NOI $64,355 @ 7.0% cap · market cap 2.80%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.19M

$1.04M – $1.38M (±1% cap)

NOI $83,091 @ 7.0% cap · market cap 3.62%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Location Intelligence

Trade Area within ½ mile

221

Businesses Nearby

Explore this area Business Placement

Demographics for 34949, FL

8,027

Population

8,033

Households

1

Avg Household Size

65

Median Age

47%

College-Educated

96%

High-School Grad

9.4 sq mi

ZIP Area

854

Density / Sq Mi

$92,188

Median Household Income

$37,219

Median Earnings

$1,484

Median Rent

$427,500

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Six-unit multifamily property, renovated, turnkey investment, short-term rental opportunity.

Where is this apartment building located?

The property is located at 1150 Carlton Court Hutchinson Island, FL.

What is the asking price?

The asking price for this property is $2,295,000.

What are key features of this property?

This property features: Turnkey investment opportunity due to comprehensive recent renovations.; All units are vacant, allowing for immediate lease‑up at market rents.; No restrictions on Short‑Term Rentals (STR), offering flexible investment strategies.