Building Details

Year Built 1986

Stories 2

Listing Agency: Billero & Billero Properties

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

Source: Compass

Added: Apr 24 Changed: Oct 11 Last Checked: Oct 19 at 8:25AM

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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.

The property at 741 Hernando Street is a four-unit multifamily asset located one block from the Atlantic Ocean on South Hutchinson Island in Fort Pierce, Florida. The property has been fully renovated and offers immediate income stability with future upside through long-term and short-term rental strategies. The unit configuration includes one two-bedroom/two-bathroom unit, two two-bedroom/one-bathroom units, and one one-bedroom/one-bathroom unit. Comprehensive interior and exterior renovations have been completed, including modern finishes. The location provides access to beaches, dining, and recreational amenities. The bike score is 41, indicating it is somewhat bikeable, and the walk score is 7, indicating it is car-dependent.

Key Highlights

• Fully renovated, turnkey four‑unit multifamily property.
• Located one block from the Atlantic Ocean on South Hutchinson Island.
• Immediate income stability with future upside potential.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$57,654

Cap Rate

3.25%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,153,080 $1.2M

Cap Rate 7%

$823,629 $823.6K

Cap Rate 9%

$640,600 $640.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,926 SF

Gross rent

$87.2K $22.20/SF

− Vacancy

−$4.8K −$1.22/SF

EGI

$82.4K $20.98/SF

− OpEx

−$24.7K −$6.29/SF

NOI

$57.7K $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%

$1,153,080

Cap Rate 7%

$823,629

Cap Rate 9%

$640,600

Alternative Uses

Best Use

Multifamily LT 5

$823.6K

$720.7K – $960.9K (±1% cap)

NOI $57,654 @ 7.0% cap · market cap 3.25%

Second Best

Apartment 5plus

$764.7K

$669.1K – $892.2K (±1% cap)

NOI $53,529 @ 7.0% cap · market cap 3.02%

Theoretical Best

Office A

$987.3K

$863.9K – $1.15M (±1% cap)

NOI $69,113 @ 7.0% cap · market cap 3.89%

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

Property Analytics

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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

Similar For Sale Nearby

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Renovated Four-Unit Quadplex

662 Granada Street, Hutchinson Island, FL 34949

$2,049,000

4,512 SF

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Turnkey Vacation Rental Home

2507 North Ocean Drive, Hutchinson Island, FL 34949

$1,690,000

4,396 SF

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Renovated 6-Unit Apartment Building

1150 Carlton Court, Hutchinson Island, FL 34949

$2,295,000

4,720 SF

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Frequently Asked Questions

What type of property is this?

Quadplex - Turnkey four-unit property one block from the Atlantic Ocean.

Where is this quadplex located?

The property is located at 741 Hernando Street Hutchinson Island, FL.

What is the asking price?

The asking price for this property is $1,775,000.

What are key features of this property?

This property features: Fully renovated, turnkey four‑unit multifamily property.; Located one block from the Atlantic Ocean on South Hutchinson Island.; Immediate income stability with future upside potential.