Building Details

Year Built 1970

Stories 1

Listing Agency: Billero & Billero Properties

Listed By: John C DiGirolomo · License #3458838 Show Phone

Source: Compass

Added: Apr 24 Changed: Oct 23 Last Checked: Oct 23 at 10:36AM

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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 Billero & Billero Properties

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Investment Insights

Based on property information with market context.

This property features a four-unit multifamily building, consisting of two concrete duplex buildings located in Fort Pierce. The property includes four units, each with 3 bedrooms and 1 bathroom, averaging approximately 1,128 square feet. The property is situated on a lot of approximately 0.36 acres, providing ample parking and separation between the buildings. The concrete block construction and durable finishes contribute to the property's low-maintenance nature. The configuration allows for potential flexibility, including the option to operate as two separate duplexes. This property is suited for investors seeking a small multifamily property with strong rental demand for larger units in a growing coastal market.

Key Highlights

• Four spacious 3‑bedroom, 1‑bath units averaging approximately 1,128 square feet.
• Low‑maintenance concrete block construction and durable finishes.
• ±0.36‑acre lot with ample parking and separation between buildings.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$66,260

Cap Rate

3.23%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,325,200 $1.3M

Cap Rate 7%

$946,571 $946.6K

Cap Rate 9%

$736,222 $736.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,512 SF

Gross rent

$100.2K $22.20/SF

− Vacancy

−$5.5K −$1.22/SF

EGI

$94.7K $20.98/SF

− OpEx

−$28.4K −$6.29/SF

NOI

$66.3K $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 Rate 5%

$1,325,200

Cap Rate 7%

$946,571

Cap Rate 9%

$736,222

Alternative Uses

Best Use

Multifamily LT 5

$946.6K

$828.3K – $1.10M (±1% cap)

NOI $66,260 @ 7.0% cap · market cap 3.23%

Second Best

Apartment 5plus

$878.8K

$769.0K – $1.03M (±1% cap)

NOI $61,519 @ 7.0% cap · market cap 3.00%

Theoretical Best

Office A

$1.13M

$992.9K – $1.32M (±1% cap)

NOI $79,429 @ 7.0% cap · market cap 3.88%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Location Intelligence

Trade Area within ½ mile

152

Businesses Nearby

Explore this area Business Placement

Demographics for 34949, FL

8,027

Population

8,033

Households

1

Avg Household Size

65

Median Age

47%

College-Educated

96%

High-School Grad

9.4 sq mi

ZIP Area

854

Density / Sq Mi

$92,188

Median Household Income

$37,219

Median Earnings

$1,484

Median Rent

$427,500

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Quadplex - Four spacious units on a large lot in Fort Pierce.

Where is this quadplex located?

The property is located at 662 Granada Street Hutchinson Island, FL.

What is the asking price?

The asking price for this property is $2,049,000.

What are key features of this property?

This property features: Four spacious 3‑bedroom, 1‑bath units averaging approximately 1,128 square feet.; Low‑maintenance concrete block construction and durable finishes.; ±0.36‑acre lot with ample parking and separation between buildings.