Renovated Apartment
For Sale
$1,999,000
4220 NE Indian River Dr, Jensen Beach, FL 34957
Townhome-style apartments feature impact windows, Comcast-ready units, and water access with frontage.
Property Size7,330 SF
Price / SF$272.71
Days on Market38
Property Features for 4220 NE Indian River Dr
General Information
Standard status
Active
Size
7,330 SF
Property subtype
Multi Family Apartment Bldg
Zoning
R3A
Occupancy
83%
Units
Unit Mix
4 x 2BR, 2 x 1BR
Multifamily Units
6
Additional Details
Utilities to Site
Yes
Amenities
Impact Windows
Comcast Ready
Water Access/Frontage
Building Details
Building Size
7,330 SF
Year Built
1979
Year Renovated
2022
Buildings
1
Listing Agency:
Vaaler Commercial Real Estate
(703) 431-4513
Listed By:
Rich Vaaler · License #0225198687
(703) 431-4513
Source:
Vaaler
Added: Jul 23
Changed: Aug 29
Last Checked: Aug 29 at 1:05PM
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 Vaaler Commercial Real Estate
Investment Insights
Based on property information with market context.
This 7,330 SF multifamily property contains 6 townhome-style apartments, including four two-bedroom, two-bath units and two one-bedroom, one-bath units. The apartments were completely renovated in 2022 and include impact windows and Comcast-ready infrastructure. Built in 1979, the building is currently 83% occupied.
The property is located at 4220 NE Indian River Dr in Jensen Beach and includes water access with frontage. It is zoned R3A, with a public sewer connection at the property line. The unit mix and renovated condition provide a clearly defined apartment-building configuration for evaluation by multifamily buyers.
The property is located at 4220 NE Indian River Dr in Jensen Beach and includes water access with frontage. It is zoned R3A, with a public sewer connection at the property line. The unit mix and renovated condition provide a clearly defined apartment-building configuration for evaluation by multifamily buyers.
Key Highlights
- 7,330 SF building with 6 apartment units
- Unit mix includes 4 two‑bedroom, two‑bath units and 2 one‑bedroom, one‑bath units
- Complete renovation completed in 2022
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
$89,466
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
4.48%
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%
$1,789,320
$1.8M
Cap Rate 7%
$1,278,086
$1.3M
Cap Rate 9%
$994,067
$994.1K
Market Conditions
NOI Build-Up for 7,330 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
$174.2K $23.76/SF
− Vacancy
−$11.5K −$1.57/SF
EGI
$162.7K $22.19/SF
− OpEx
−$73.2K −$9.99/SF
NOI
$89.5K $12.21/SF
Area
Martin County, FL
Vacancy
6.60%
Lease Rate
$23.76 /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%
$1,789,320
Cap Rate 7%
$1,278,086
Cap Rate 9%
$994,067
Alternative Uses
Best Use
Apartment 5plus
$1.28M
$1.12M – $1.49M
NOI $89,466 @ 7.0% cap · market cap 4.48%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$1.93M
$1.68M – $2.25M
NOI $134,797 @ 7.0% cap · market cap 6.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
83%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
168
Businesses Nearby
Explore this area
Business Placement
Demographics for 34957, FL
22,955
Population
17,269
Households
1.3
Avg Household Size
59
Median Age
39%
College-Educated
94%
High-School Grad
16.4 sq mi
ZIP Area
1,400
Density / Sq Mi
$65,658
Median Household Income
$41,973
Median Earnings
$1,518
Median Rent
$378,500
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 - Townhome-style apartments feature impact windows, Comcast-ready units, and water access with frontage.
Where is this apartment building located?
The property is located at 4220 NE Indian River Dr Jensen Beach, FL.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: 7,330 SF building with 6 apartment units; Unit mix includes 4 two‑bedroom, two‑bath units and 2 one‑bedroom, one‑bath units; Complete renovation completed in 2022
