Mixed-Use Building with Office and
For Sale
$1,695,000
117 N 5TH STREET, Fort Pierce, FL 34950
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 Market50
Property Features for 117 N 5TH STREET
General Information
Standard status
Active
Size
5,500 SF
Property subtype
Mixed Use
Units
Multifamily Units
6
Office Units
6
Additional Details
Cap Rate
7.1%
Amenities
0.12 acres
Additional parcels description:, Parcel Number: 2410-607-0002-000-2, Public Survey Range: 40, Public Survey Section: 10, Annual Amount: $11,392, Legal Description: AMENDED PLAT OF BLK 2 OF RE-S/D OF RECEIVER`S S/D THAT PART OF LOTS 1 AND 2 AS DESC IN DBK 171-155 AND ALL LOT 3 AMENDED PLAT OF BLK 2 OF RE-S/D (1) (MAP 24/10D) (OR 1021-2637: 1037-48: 1223-49), Lot: 1-3, Year: 2025, Zoning: GENERAL CO
Wall/Window Unit(s)
Listing ID: MFRO6425092, Standard Status: Active, MLS Status: Active, Property Subtype: Mixed Use, On market as of 2026-07-14, Special Conditions: None
Built in 1953, Living area: 5500, Living area units: Square Feet, 2 stories, Levels: Two, Construction Materials: Brick, Concrete, Stucco
MLS Area (Major): 34950 - Fort Pierce, County/Parish: St Lucie
Brick/Mortar
Frontage Type: Access Road, Business District, Road Surface: Asphalt
Building Details
Year Built
1953
Stories
2
Tenancy
Multi
Listing Agency:
TOTAL R E CONSULTANTS INC
(954) 341-3294
Listed By:
Joe Pelayo · License #3005451
Source:
Miharaandassociates
Added: Jul 14
Changed: Aug 31
Last Checked: Aug 31 at 3:16PM
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
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
$74,990
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
4.42%
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%
$1,499,800
$1.5M
Cap Rate 7%
$1,071,286
$1.1M
Cap Rate 9%
$833,222
$833.2K
Market Conditions
NOI Build-Up for 5,500 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
$143.2K $26.04/SF
− Vacancy
−$6.9K −$1.25/SF
EGI
$136.3K $24.79/SF
− OpEx
−$61.4K −$11.16/SF
NOI
$75.0K $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 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%
$1,499,800
Cap Rate 7%
$1,071,286
Cap Rate 9%
$833,222
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 authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Office units
6
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,574
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
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
