Adjacent Fourplex
642-646 Eldorado Street Fort Pierce, FL 34949
642-646 Eldorado Street, Fort Pierce, FL, 34949
$2,400,000
For Sale
$2,400,000
Two adjacent fourplex buildings totaling eight 2BR/1.5BA units are fully occupied with separate electric meters.
Property Size8,008 SF
Price / SF$299.70
Days on Market73
Property Features for 642-646 Eldorado Street
General Information
- Standard status
- Active
- Size
- 8,008 SF
- Property subtype
- Commercial Sale / Multi Family
Building Details
- Year Built
- 1984
Listing agency
LPT Realty, LLC
(772) 713-4204
Listed by
John C DiGirolomo · License #3458838
(772) 713-4204
Source
Compass
Added: May 11 Updated: Jul 22 at 11:17AM Checked: Jul 22 at 11:17AM
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 LPT Realty, LLC
Investment Insights
Based on property information with market context.
This offering includes two adjacent fourplex buildings totaling eight large 2-bedroom, 1.5-bath units. The portfolio is fully occupied and operated as a multifamily income property. Units are separately metered for electricity and feature impact windows, with recent renovations noted for the residences. The buildings are constructed with frame and stucco.
The property is located near the Intracoastal and area beaches, with Jetty Park, marinas, restaurants, and downtown entertainment in the surrounding area. Public remarks also reference nearby redevelopment activity, including a planned surf park and continued Port of Fort Pierce expansion.
The property is located near the Intracoastal and area beaches, with Jetty Park, marinas, restaurants, and downtown entertainment in the surrounding area. Public remarks also reference nearby redevelopment activity, including a planned surf park and continued Port of Fort Pierce expansion.
Key Highlights
- Two adjacent fourplex buildings totaling 8 units, with fully occupied 2BR/1.5BA layouts
- Current gross annual income of approximately $157,800
- Units average approximately 1,001 SF and have separate electric meters
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $177.8k | $22.20 |
| − Vacancy | −$9.8k | −$1.22 |
| EGI | $168.0k | $20.98 |
| − OpEx | −$50.4k | −$6.29 |
| NOI | $117.6k | $14.69 |
8,008 SF · lease $22.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.68M
$1.47M – $1.96M
NOI $117,600 @ 7.0% cap · market cap 4.90%
Second Best
Apartment 5plus
$1.56M
$1.36M – $1.82M
NOI $109,185 @ 7.0% cap · market cap 4.55%
Theoretical Best
Office A
$2.01M
$1.76M – $2.35M
NOI $140,973 @ 7.0% cap · market cap 5.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Two adjacent fourplex buildings totaling eight 2BR/1.5BA units are fully occupied with separate electric meters.
Where is this quadplex located?
The property is located at 642-646 Eldorado Street Fort Pierce, FL.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Two adjacent fourplex buildings totaling 8 units, with fully occupied 2BR/1.5BA layouts; Current gross annual income of approximately $157,800; Units average approximately 1,001 SF and have separate electric meters
