Updated Duplex Income
For Sale
Contact for pricing
2210 St Lucie Boulevard, Fort Pierce, FL 34946
Updated duplex with two 1-bedroom units on a private lot, plus on-site RV electric hookup and a shed/workshop.
Property Size1,932 SF
Lot Size0.88 Acres
Price / SF$199.28
Days on Market130
Property Features for 2210 St Lucie Boulevard
General Information
Standard status
Active
Size
1,932 SF
Lot size
0.88 Acres
Property subtype
Multifamily
Zoning
RM-5 - Cou
Additional Details
Multifamily Units
2
Amenities
RV electric hookup
shed/workshop with covered awning
Building Details
Year Built
1957
Units
2
Tenancy
Multi
Listing Agency:
Vinson Real Estate Services, LLC
Listed By:
Jacob LLc · License #3377464
Source:
Crexi
Added: Apr 2
Changed: Aug 7
Last Checked: Aug 8 at 10:50AM
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 Vinson Real Estate Services, LLC
Investment Insights
Based on property information with market context.
This updated duplex features two separate 1-bedroom, 1-bath units on a private lot. The property is described as tastefully updated and includes lush landscaping with old growth trees throughout.
The site also has an RV electric hookup and a shed/workshop with a covered awning. The property is zoned Rm-5, with plans for an additional duplex build available.
Set up as a residential income property, the offering includes multiple on-site structures and supporting features intended to support both current use and possible expansion consistent with the provided zoning information.
The site also has an RV electric hookup and a shed/workshop with a covered awning. The property is zoned Rm-5, with plans for an additional duplex build available.
Set up as a residential income property, the offering includes multiple on-site structures and supporting features intended to support both current use and possible expansion consistent with the provided zoning information.
Key Highlights
- Tastefully updated duplex built in 1957 with two 1‑bedroom units
- Duplex set on a private 0.88‑acre +/- lot
- On‑site RV electric hookup plus shed/workshop with covered awning
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
$28,372
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
7.37%
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%
$567,440
$567.4K
Cap Rate 7%
$405,314
$405.3K
Cap Rate 9%
$315,244
$315.2K
Market Conditions
NOI Build-Up for 1,932 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
$42.9K $22.20/SF
− Vacancy
−$2.4K −$1.22/SF
EGI
$40.5K $20.98/SF
− OpEx
−$12.2K −$6.29/SF
NOI
$28.4K $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%
$567,440
Cap Rate 7%
$405,314
Cap Rate 9%
$315,244
Alternative Uses
Best Use
Multifamily LT 5
$405.3K
$354.7K – $472.9K
NOI $28,372 @ 7.0% cap · market cap 7.37%
Second Best
Apartment 5plus
$376.3K
$329.3K – $439.0K
NOI $26,342 @ 7.0% cap · market cap 6.84%
Theoretical Best
Office A
$485.9K
$425.1K – $566.9K
NOI $34,011 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Explore this area
Business Placement
Demographics for 34946, FL
6,793
Population
3,435
Households
2
Avg Household Size
42
Median Age
14%
College-Educated
72%
High-School Grad
15.2 sq mi
ZIP Area
447
Density / Sq Mi
$40,488
Median Household Income
$27,591
Median Earnings
$1,000
Median Rent
$128,100
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?
Duplex - Updated duplex with two 1-bedroom units on a private lot, plus on-site RV electric hookup and a shed/workshop.
Where is this duplex located?
The property is located at 2210 St Lucie Boulevard Fort Pierce, FL.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Tastefully updated duplex built in 1957 with two 1‑bedroom units; Duplex set on a private 0.88‑acre +/- lot; On‑site RV electric hookup plus shed/workshop with covered awning
