Well-Maintained Quadplex
For Sale
Contact for pricing
433 N 9th N Street, Fort Pierce, FL 34950
Four fully occupied units provide steady residential income potential in a Fort Pierce quadplex setting.
Property Size1,974 SF
Price / SF$293.82
Days on Market271
Property Features for 433 N 9th N Street
General Information
Standard status
Active
Size
1,974 SF
Property subtype
Multifamily
Zoning
Medium
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
4
Building Details
Year Built
1958
Units
4
Listing Agency:
London Foster Realty
(954) 344-8222
Listed By:
Jennifer Giraldo · License #3465511
Source:
Crexi
Added: Nov 11, 2025
Changed: Aug 8
Last Checked: Aug 8 at 12:39PM
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 London Foster Realty
Investment Insights
Based on property information with market context.
This well-maintained quadplex offers four fully occupied residential units, consisting of three 2-bedroom, 1-bath apartments and one 1-bedroom, 1-bath unit. The property is configured as a four-unit income building and is currently generating rental income with all units in place.
Located at 433 N 9th N Street in Fort Pierce, the asset benefits from an established rental mix with multiple unit sizes. The current offering is positioned as part of a growing local market, with the property described as having strong tenant demand in the area.
For investors or owners seeking a manageable multifamily structure, this quadplex provides the benefit of multiple units under one roof, with three two-bedroom layouts and a separate one-bedroom unit. With all four units already occupied, the property can support an income-oriented ownership strategy while offering the practical advantage of diversified unit types within a single building.
Located at 433 N 9th N Street in Fort Pierce, the asset benefits from an established rental mix with multiple unit sizes. The current offering is positioned as part of a growing local market, with the property described as having strong tenant demand in the area.
For investors or owners seeking a manageable multifamily structure, this quadplex provides the benefit of multiple units under one roof, with three two-bedroom layouts and a separate one-bedroom unit. With all four units already occupied, the property can support an income-oriented ownership strategy while offering the practical advantage of diversified unit types within a single building.
Key Highlights
- Quadplex built in 1958 with four fully occupied units in Fort Pierce
- Gross rental income of $5,550/mo
- Unit mix includes three 2 bed/1 bath units and one 1 bed/1 bath unit
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
$28,989
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
5.00%
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%
$579,780
$579.8K
Cap Rate 7%
$414,129
$414.1K
Cap Rate 9%
$322,100
$322.1K
Market Conditions
NOI Build-Up for 1,974 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
$43.8K $22.20/SF
− Vacancy
−$2.4K −$1.22/SF
EGI
$41.4K $20.98/SF
− OpEx
−$12.4K −$6.29/SF
NOI
$29.0K $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%
$579,780
Cap Rate 7%
$414,129
Cap Rate 9%
$322,100
Alternative Uses
Best Use
Multifamily LT 5
$414.1K
$362.4K – $483.2K
NOI $28,989 @ 7.0% cap · market cap 5.00%
Second Best
Apartment 5plus
$384.5K
$336.4K – $448.6K
NOI $26,915 @ 7.0% cap · market cap 4.64%
Theoretical Best
Office A
$496.4K
$434.4K – $579.2K
NOI $34,750 @ 7.0% cap · market cap 5.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,438
Businesses Nearby
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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Frequently Asked Questions
What type of property is this?
Quadplex - Four fully occupied units provide steady residential income potential in a Fort Pierce quadplex setting.
Where is this quadplex located?
The property is located at 433 N 9th N Street Fort Pierce, FL.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: Quadplex built in 1958 with four fully occupied units in Fort Pierce; Gross rental income of $5,550/mo; Unit mix includes three 2 bed/1 bath units and one 1 bed/1 bath unit
