Two-Property Motel
For Sale
Contact for pricing
1921 Avenue D, Fort Pierce, FL 34950
Combined vacant hospitality assets include a two-story motel and a separate efficiency-unit building.
Property Size8,434 SF
Price / SF$272.11
Days on Market53
Property Features for 1921 Avenue D
General Information
Standard status
Active
Size
8,434 SF
Property subtype
Multifamily, Hospitality
Zoning
C-3
Building Details
Year Built
1976
Buildings
2
Stories
2
Units
44
Listing Agency:
Crady Mackin Belland Commercial Real Estate
Listed By:
Stephen Peregoy · License #FL SL3542113
Source:
Crexi
Added: Jul 29
Changed: Sep 14
Last Checked: Sep 19 at 9:00AM
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 Crady Mackin Belland Commercial Real Estate
Investment Insights
Based on property information with market context.
This offering combines two vacant hospitality properties with a total reported building size of 8,434 square feet. The asset at 1921 Avenue D is a two-story former motel with 38 rooms, while 438 N 20th Street contains a single-story building configured with six large efficiency units. Both properties are currently vacant and identified for renovation, repositioning, or conversion. The 1921 Avenue D property was built in 1976, and the combined offering carries C-3 zoning.
The properties are located in Fort Pierce, Florida, and are being offered together as one acquisition. Their separate configurations provide a mix of traditional motel rooms and efficiency-unit space, with lease options also noted in the property information.
The properties are located in Fort Pierce, Florida, and are being offered together as one acquisition. Their separate configurations provide a mix of traditional motel rooms and efficiency-unit space, with lease options also noted in the property information.
Key Highlights
- Two‑property offering with 8,434 square feet reported in total
- 1921 Avenue D includes a two‑story, 38‑room former motel
- 438 N 20th Street has six large efficiency units in a single‑story building
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
$114,994
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
5.01%
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%
$2,299,880
$2.3M
Cap Rate 7%
$1,642,771
$1.6M
Cap Rate 9%
$1,277,711
$1.3M
Market Conditions
NOI Build-Up for 8,434 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
$219.6K $26.04/SF
− Vacancy
−$10.5K −$1.25/SF
EGI
$209.1K $24.79/SF
− OpEx
−$94.1K −$11.16/SF
NOI
$115.0K $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%
$2,299,880
Cap Rate 7%
$1,642,771
Cap Rate 9%
$1,277,711
Alternative Uses
Best Use
Apartment 5plus
$1.64M
$1.44M – $1.92M
NOI $114,994 @ 7.0% cap · market cap 5.01%
Second Best
Hotel Hospitality
$664.8K
$581.7K – $775.6K
NOI $46,535 @ 7.0% cap · market cap 2.03%
Theoretical Best
Office A
$2.12M
$1.86M – $2.47M
NOI $148,472 @ 7.0% cap · market cap 6.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
497
Businesses Nearby
Balanced
Demand for This Use
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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Similar Off Market Nearby
- The Historic Reno Motel — 1923 Ave D, Fort Pierce, FL 34950
- Main Street Motel — 1923 Ave D, Fort Pierce, FL 34950
- Reno Rooms — 1211 Ave D, Fort Pierce, FL 34950
Frequently Asked Questions
What type of property is this?
Motel - Combined vacant hospitality assets include a two-story motel and a separate efficiency-unit building.
Where is this motel located?
The property is located at 1921 Avenue D Fort Pierce, FL.
What is the asking price?
The asking price for this property is $2,295,000.
What are key features of this property?
This property features: Two‑property offering with 8,434 square feet reported in total; 1921 Avenue D includes a two‑story, 38‑room former motel; 438 N 20th Street has six large efficiency units in a single‑story building
