Multifamily Property with
4004 N US HIGHWAY 1, Fort Pierce, FL 34946
For Sale
$600,000
Commercially zoned property with four apartments, boat or RV storage, warehouse storage, and billboard income.
Property Size3,261 SF
Price / SF$267.38
Days on Market48
Property Features for 4004 N US HIGHWAY 1
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Net Operating Income
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Listing Agency:
Dale Sorensen Real Estate Inc.
Listed By:
James Goldsmith · License #672330
(772) 473-6418
Source:
Laerrealty
Added: Sep 21
Changed: Oct 26
Last Checked: Nov 6 at 5:38AM
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 Dale Sorensen Real Estate Inc.
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Investment Insights
Based on property information with market context.
This multifamily property is currently configured with four apartments alongside boat or RV storage and warehouse storage. Billboard income adds another established revenue component to the property’s existing use mix.
The property carries Commercial zoning and fronts US Highway 1 with 109 feet of frontage. It is positioned approximately 2 miles south of Vero Beach, providing direct exposure along the highway corridor while supporting its current multifamily and storage uses.
The property carries Commercial zoning and fronts US Highway 1 with 109 feet of frontage. It is positioned approximately 2 miles south of Vero Beach, providing direct exposure along the highway corridor while supporting its current multifamily and storage uses.
Key Highlights
- Four apartments included in the current multifamily use
- Boat or RV storage provides an additional income source
- Warehouse storage included on the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,596
Cap Rate
5.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$611,920
$611.9K
Cap Rate 7%
$437,086
$437.1K
Cap Rate 9%
$339,956
$340.0K
Market Conditions
NOI Build-Up for 2,244 SF
Gross rent
$58.4K $26.04/SF
− Vacancy
−$2.8K −$1.25/SF
EGI
$55.6K $24.79/SF
− OpEx
−$25.0K −$11.16/SF
NOI
$30.6K $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 Rate 5%
$611,920
Cap Rate 7%
$437,086
Cap Rate 9%
$339,956
Alternative Uses
Best Use
Apartment 5plus
$437.1K
$382.5K – $509.9K
NOI $30,596 @ 7.0% cap · market cap 5.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$564.3K
$493.8K – $658.4K
NOI $39,503 @ 7.0% cap · market cap 6.58%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
71
Businesses Nearby
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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
$128,100
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Fort Pierce, FL
Properties on Market for Multifamily properties in Fort Pierce
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Commercially zoned property with four apartments, boat or RV storage, warehouse storage, and billboard income.
Where is this multifamily property located?
The property is located at 4004 N US HIGHWAY 1 Fort Pierce, FL.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Four apartments included in the current multifamily use; Boat or RV storage provides an additional income source; Warehouse storage included on the property
