Four-Unit Quadplex with Impact
For Sale
$635,000
1311 Emerald Terrace, Fort Pierce, FL 34950
Residential Income, Fort Pierce, FL
Property Size2,768 SF
Lot Size0.25 Acres
Price / SF$229.41
Days on Market102
Property Features for 1311 Emerald Terrace
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
Medium Den
Bedrooms
4
Full bathrooms
4
Half bathrooms
1
Rooms
Bedroom 4, Bathroom 4, Bathroom 3, Bedroom 2, Bathroom 2, Bathroom 5, Bedroom 1, Bedroom 3, Bathroom 1
Pets allowed
No, Yes
Fencing
Fenced
Subdivision
MORGAN'S SUBDIVISION
Directions
i95 to FL-70 E/Okeechobee Rd., Follow Okeechobee Rd to Emerald Terrace.
Standard status
Active
APN
240982000200005
Size
2,768 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
MORGAN`S S/D E 1/2 LOT 20 AND ALL LOT 21 AND N 5 FT OF VAC ALLY ADJ ON S
Tax Annual Amount
12533
Legal Description
MORGAN`S S/D E 1/2 LOT 20 AND ALL LOT 21 AND N 5 FT OF VAC ALLY ADJ ON S
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
2009
Floors in Building
1
Number of units
4
Flooring type
Tile
Building materials
CBS
Roof type
Shingle
Listing Agency:
Partnership Realty Inc.
(561) 355-0270
Listed By:
Vanessa Carcache · License #3385560
(561) 315-2918
Added: May 14
Changed: Aug 21
Last Checked: Aug 23 at 12:06AM
MLS# B26028732
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2009, this 2,768-square-foot quadplex contains four independent residences: two units with two bedrooms and one bathroom each, plus two studio units. The 0.25-acre property uses CBS construction, tile flooring, impact glass windows, a shingle roof, and central heating. Cooling is provided through central air, window units, and wall/window units. The grounds are fenced and include parking suitable for guests, boats, and trailers.
The property is located at 1311 Emerald Terrace in Fort Pierce, Florida, within St. Lucie County. Public water and public sewer serve the property. Koa Bay is approximately 15 minutes away. Zoning is identified as Medium Den.
The property is located at 1311 Emerald Terrace in Fort Pierce, Florida, within St. Lucie County. Public water and public sewer serve the property. Koa Bay is approximately 15 minutes away. Zoning is identified as Medium Den.
Key Highlights
- 2,768‑square‑foot quadplex built in 2009
- Four residences: two 2/1 units and two studios
- Impact glass windows throughout
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
$40,649
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
6.40%
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%
$812,980
$813.0K
Cap Rate 7%
$580,700
$580.7K
Cap Rate 9%
$451,656
$451.7K
Market Conditions
NOI Build-Up for 2,768 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
$61.4K $22.20/SF
− Vacancy
−$3.4K −$1.22/SF
EGI
$58.1K $20.98/SF
− OpEx
−$17.4K −$6.29/SF
NOI
$40.6K $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%
$812,980
Cap Rate 7%
$580,700
Cap Rate 9%
$451,656
Alternative Uses
Best Use
Multifamily LT 5
$580.7K
$508.1K – $677.5K
NOI $40,649 @ 7.0% cap · market cap 6.40%
Second Best
Apartment 5plus
$539.1K
$471.8K – $629.0K
NOI $37,740 @ 7.0% cap · market cap 5.94%
Theoretical Best
Office A
$696.1K
$609.1K – $812.1K
NOI $48,728 @ 7.0% cap · market cap 7.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,337
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 - Four separate residences include two two-bedroom units and two studio units.
Where is this quadplex located?
The property is located at 1311 Emerald Terrace Fort Pierce, FL.
What is the asking price?
The asking price for this property is $635,000.
What are key features of this property?
This property features: 2,768‑square‑foot quadplex built in 2009; Four residences: two 2/1 units and two studios; Impact glass windows throughout
