Two-Story Apartment
For Sale
$2,200,000
1610 North 25th Street, Fort Pierce, FL 34947
Two-story building with 14 two-bedroom, one-bath units, each with central A/C and separate electrical meters.
Property Size11,952 SF
Price / SF$184.07
Days on Market853
Property Features for 1610 North 25th Street
General Information
Standard status
Active
Size
11,952 SF
Property subtype
Commercial/Industrial / Income/Multi Family
Taxes and HOA fees
Annual Taxes
$19,198
Building Details
Year Built
1969
Listing Agency:
FIP Realty Services, LLC
(786) 463-4977
Listed By:
Iris Shtilerman · License #3305141
(786) 463-4977
Source:
Compass
Added: Apr 24, 2024
Changed: Aug 23
Last Checked: Jul 23 at 2:48PM
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 FIP Realty Services, LLC
Investment Insights
Based on property information with market context.
This two-story multifamily building offers 14 total units, each configured with two bedrooms and one bathroom. Each unit includes its own central A/C and separate electrical meters, supporting individual utility management. Additional on-site income comes from two separate washer and dryer areas currently in use. The property has a new roof, was freshly painted, and the interior was renovated in 2018.
The sale also includes a vacant lot with Parcel IDs 240461000090002 and 240461000100002.
The overall offering combines the existing rental units with included adjacent vacant land for development or expansion options, depending on buyer plans.
The sale also includes a vacant lot with Parcel IDs 240461000090002 and 240461000100002.
The overall offering combines the existing rental units with included adjacent vacant land for development or expansion options, depending on buyer plans.
Key Highlights
- 2‑story building with 14 total units, each unit featuring 2 bedrooms and 1 bath
- Each unit has its own central A/C and separate electrical meters
- Interior renovated in 2018; new roof and freshly painted
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
$162,960
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
7.41%
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%
$3,259,200
$3.3M
Cap Rate 7%
$2,328,000
$2.3M
Cap Rate 9%
$1,810,667
$1.8M
Market Conditions
NOI Build-Up for 11,952 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
$311.2K $26.04/SF
− Vacancy
−$14.9K −$1.25/SF
EGI
$296.3K $24.79/SF
− OpEx
−$133.3K −$11.16/SF
NOI
$163.0K $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%
$3,259,200
Cap Rate 7%
$2,328,000
Cap Rate 9%
$1,810,667
Alternative Uses
Best Use
Apartment 5plus
$2.33M
$2.04M – $2.72M
NOI $162,960 @ 7.0% cap · market cap 7.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.01M
$2.63M – $3.51M
NOI $210,403 @ 7.0% cap · market cap 9.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
185
Businesses Nearby
Explore this area
Business Placement
Demographics for 34947, FL
13,933
Population
4,691
Households
3
Avg Household Size
32
Median Age
19%
College-Educated
81%
High-School Grad
9.7 sq mi
ZIP Area
1,436
Density / Sq Mi
$44,985
Median Household Income
$31,968
Median Earnings
$1,125
Median Rent
$202,700
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?
Apartment building - Two-story building with 14 two-bedroom, one-bath units, each with central A/C and separate electrical meters.
Where is this apartment building located?
The property is located at 1610 North 25th Street Fort Pierce, FL.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 2‑story building with 14 total units, each unit featuring 2 bedrooms and 1 bath; Each unit has its own central A/C and separate electrical meters; Interior renovated in 2018; new roof and freshly painted
