Mixed-Use Building with Office and
117 N 5TH STREET Fort Pierce, FL 34950
New
117 N 5TH STREET, Fort Pierce, FL, 34950
$1,695,000
For Sale
$1,695,000
Freestanding building with six ground-floor office suites and six second-floor apartment units plus on-site parking.
Property Size5,500 SF
Price / SF$308.18
Days on Market4
Property Features for 117 N 5TH STREET
General Information
- Standard status
- Active
- Size
- 5,500 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1953
Listing Agency
TOTAL R E CONSULTANTS INC
(954) 341-3294
Listed by
Joe Pelayo · License #3005451
Source
Miharaandassociates
Added: Jul 14 Checked: Jul 17 at 2:10 am
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 TOTAL R E CONSULTANTS INC
Investment Insights
Based on property information with market context.
The Royal Poinciana Building is a freestanding mixed-use property featuring approximately 5,500+/- square feet and 12 total units, arranged as 6 ground-floor office suites and 6 second-floor apartments. The first floor includes six professional office suites with shared restroom and kitchenette amenities. The second floor consists of updated residential units, including 2 one-bedroom/one-bath units and 4 updated studio apartments.
Residential interiors feature renovated bathrooms, kitchenettes, and tile/plank-style flooring. The offering also includes on-site parking. The building is located in downtown Fort Pierce near the waterfront, marina, dining, arts, and local amenities. The property is described as having stabilized income from both office and residential tenants, with rent optimization noted for future improvement.
Residential interiors feature renovated bathrooms, kitchenettes, and tile/plank-style flooring. The offering also includes on-site parking. The building is located in downtown Fort Pierce near the waterfront, marina, dining, arts, and local amenities. The property is described as having stabilized income from both office and residential tenants, with rent optimization noted for future improvement.
Key Highlights
- Freestanding mixed‑use building (1953) with approx. 5,500+/- SF and 12 total units
- 6 ground‑floor office suites with shared restroom and kitchenette amenities
- 6 second‑floor apartments: 2 one‑bedroom/one‑bath units and 4 updated studio apartments
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $143.2k | $26.04 |
| − Vacancy | −$6.9k | −$1.25 |
| EGI | $136.3k | $24.79 |
| − OpEx | −$61.4k | −$11.16 |
| NOI | $75.0k | $13.63 |
5,500 SF · lease $26.04/SF/yr · vacancy 4.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.07M
$937.4K – $1.25M
NOI $74,990 @ 7.0% cap · market cap 4.42%
Second Best
Mixed Use
$1.06M
$928.1K – $1.24M
NOI $74,250 @ 7.0% cap · market cap 4.38%
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,822 @ 7.0% cap · market cap 5.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Colean Realty, Inc.
Property Management Company
Trusted Care Aesthetics
Spa & Massage Center
S.S.I. Enterprises
Moving Company
Budget Cars 4 ...
Car Dealership
Florida Field Investigations
Law Firm
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FAQs
What type of property is this?
Mixed-use property - Freestanding building with six ground-floor office suites and six second-floor apartment units plus on-site parking.
Where is this mixed-use property located?
The property is located at 117 N 5TH STREET Fort Pierce, FL.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: Freestanding mixed‑use building (1953) with approx. 5,500+/- SF and 12 total units; 6 ground‑floor office suites with shared restroom and kitchenette amenities; 6 second‑floor apartments: 2 one‑bedroom/one‑bath units and 4 updated studio apartments
