Renovated Quadplex with New
For Sale
Contact for pricing
1205 Ave K, Fort Pierce, FL 34950
Three of four units are occupied, and one newly renovated unit is ready to lease in a four-unit property.
Property Size3,300 SF
Lot Size0.33 Acres
Price / SF$210.61
Days on Market58
Property Features for 1205 Ave K
General Information
Standard status
Active
Size
3,300 SF
Lot size
0.33 Acres
Property subtype
Multifamily
Zoning
Medium Density
Occupancy
75%
Additional Details
Business Included
Yes
Multifamily Units
4
Building Details
Year Built
1979
Stories
1
Tenancy
Multi
Listing Agency:
Korman Realty
(954) 598-3277
Listed By:
Michael Korman · License #BK3316647
Source:
Crexi
Added: Jun 13
Changed: Aug 8
Last Checked: Aug 7 at 6:18AM
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 Korman Realty
Investment Insights
Based on property information with market context.
This quadplex offers a four-unit residential income setup, with three units currently occupied by longer-term tenants. The fourth unit has been newly renovated throughout and is ready to be leased. Recent improvements include a newer roof installed in 2022, along with two new A/C units, supporting reliable day-to-day operations for the property.
The property sits on a lot of more than one-third acre. It is located close to the beach, restaurants, and parks, and is described as just south of Hutchinson Island, offering an appealing area for renters who want access to coastal and local amenities.
For investors or operators looking for a four-door building with in-place occupancy, this configuration provides immediate rent support from the three occupied units. The ready-to-lease, renovated unit can help reduce downtime between tenants, while the roof and A/C updates provide a more current baseline for property maintenance. Schedule a tour to review unit conditions and confirm lease details directly with the seller.
The property sits on a lot of more than one-third acre. It is located close to the beach, restaurants, and parks, and is described as just south of Hutchinson Island, offering an appealing area for renters who want access to coastal and local amenities.
For investors or operators looking for a four-door building with in-place occupancy, this configuration provides immediate rent support from the three occupied units. The ready-to-lease, renovated unit can help reduce downtime between tenants, while the roof and A/C updates provide a more current baseline for property maintenance. Schedule a tour to review unit conditions and confirm lease details directly with the seller.
Key Highlights
- Four‑unit quadplex built in 1979
- Three of four units are occupied, with one newly renovated unit ready to lease
- New roof in 2022
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
$48,461
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
6.97%
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%
$969,220
$969.2K
Cap Rate 7%
$692,300
$692.3K
Cap Rate 9%
$538,456
$538.5K
Market Conditions
NOI Build-Up for 3,300 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
$73.3K $22.20/SF
− Vacancy
−$4.0K −$1.22/SF
EGI
$69.2K $20.98/SF
− OpEx
−$20.8K −$6.29/SF
NOI
$48.5K $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%
$969,220
Cap Rate 7%
$692,300
Cap Rate 9%
$538,456
Alternative Uses
Best Use
Multifamily LT 5
$692.3K
$605.8K – $807.7K
NOI $48,461 @ 7.0% cap · market cap 6.97%
Second Best
Apartment 5plus
$642.8K
$562.4K – $749.9K
NOI $44,994 @ 7.0% cap · market cap 6.47%
Theoretical Best
Office A
$829.9K
$726.2K – $968.2K
NOI $58,093 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
75%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
403
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Three of four units are occupied, and one newly renovated unit is ready to lease in a four-unit property.
Where is this quadplex located?
The property is located at 1205 Ave K Fort Pierce, FL.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Four‑unit quadplex built in 1979; Three of four units are occupied, with one newly renovated unit ready to lease; New roof in 2022
