Two-Building Eight-Unit Apartment
For Sale
$2,170,000
642 & 646 Eldorado Street, Fort Pierce, FL
Commercial Sale, Fort Pierce, FL
Property Size8,008 SF
Lot Size0.24 Acres
Price / SF$270.98
Days on Market158
Property Features for 642 & 646 Eldorado Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
HI Medium
Parking
16
Subdivision
7010
Standard status
Active
APN
240150300620003
Size
8,008 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
OCEAN VIEW S/D REVISED PLAT HOLLEY AND MORGAN'S S/D BLK 6 N 38.96 FT OF LOT 10 AND S 40.92 FT OF LOT 11
Tax Annual Amount
43595
Legal Description
OCEAN VIEW S/D REVISED PLAT HOLLEY AND MORGAN'S S/D BLK 6 N 38.96 FT OF LOT 10 AND S 40.92 FT OF LOT 11
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
impact windows
Building Details
Year built
1984
Floors in Building
2
Number of units
8
Flooring type
Tile
Building materials
Frame, Stucco
Roof type
Shingle
Listing Agency:
LPT Realty, LLC
(877) 366-2213
Listed By:
John C DiGirolomo · License #3458838
(772) 713-4204
Added: May 11
Changed: Sep 22
Last Checked: Oct 15 at 9:06AM
MLS# B26027271
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily property comprises two adjacent fourplex buildings with eight 2BR/1.5BA apartments totaling 8,008 square feet. The units average approximately 1,001 SF and feature tile flooring, central heating and cooling, impact windows, and separate electric meters. Built in 1984, the buildings use frame and stucco construction and have undergone recent renovations. Public water and public sewer serve the property, with shingle roofing throughout.
The 0.24-acre property is located in Fort Pierce near the Intracoastal, beaches, Jetty Park, marinas, restaurants, and downtown entertainment. It is also positioned near the Port of Fort Pierce expansion and a planned surf park. Zoning is identified as HI Medium.
The 0.24-acre property is located in Fort Pierce near the Intracoastal, beaches, Jetty Park, marinas, restaurants, and downtown entertainment. It is also positioned near the Port of Fort Pierce expansion and a planned surf park. Zoning is identified as HI Medium.
Key Highlights
- Two adjacent fourplex buildings with 8 total units
- Eight 2BR/1.5BA apartments totaling 8,008 square feet
- Units average approximately 1,001 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$109,185
Cap Rate
5.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,183,700
$2.2M
Cap Rate 7%
$1,559,786
$1.6M
Cap Rate 9%
$1,213,167
$1.2M
Market Conditions
NOI Build-Up for 8,008 SF
Gross rent
$208.5K $26.04/SF
− Vacancy
−$10.0K −$1.25/SF
EGI
$198.5K $24.79/SF
− OpEx
−$89.3K −$11.16/SF
NOI
$109.2K $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%
$2,183,700
Cap Rate 7%
$1,559,786
Cap Rate 9%
$1,213,167
Alternative Uses
Best Use
Apartment 5plus
$1.56M
$1.36M – $1.82M
NOI $109,185 @ 7.0% cap · market cap 5.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.01M
$1.76M – $2.35M
NOI $140,973 @ 7.0% cap · market cap 6.50%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
8
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
191
Businesses Nearby
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Business Placement
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied multifamily property with renovated units, separate electric meters, and impact windows.
Where is this apartment building 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 $2,170,000.
What are key features of this property?
This property features: Two adjacent fourplex buildings with 8 total units; Eight 2BR/1.5BA apartments totaling 8,008 square feet; Units average approximately 1,001 SF
