BreakThru Realty

642 & 646 Eldorado Street, Fort Pierce FL

$2,170,000 · $271 per sq ft · Multifamily for sale

  • Property type: Multi Family
  • Asking price: $2,170,000
  • Price per sq ft: $271
  • Building size: 8,008 sq ft
  • Lot size: 10,454 sq ft
  • Zoning: HI Medium
  • Year built: 1984
  • Units: 8
  • Stories: 2
  • Net operating income: $102,570/yr
  • Cap rate: 4.7%
  • Buildings: 2
  • Parking spaces: 16
  • Units leased / vacant: 8 leased · — vacant
  • Parcel ID: 240150300620003
  • MLS#: B26027271
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About this property

Rare opportunity to acquire two adjacent fourplex buildings totaling 8 large 2BR/1.5BA units in one of Fort Pierce's fastest-growing coastal submarkets. Located near the Intracoastal, beaches, Jetty Park, marinas, restaurants, and downtown entertainment, this fully occupied multifamily portfolio offers immediate cash flow with approximately $157,800 in current gross annual income. Units average approximately 1,001 SF and feature separate electric meters, impact windows, and recent renovations. Frame and stucco construction with strong rental history and future upside through lease optimization. Positioned near major redevelopment projects including the planned surf park and continued Port of Fort Pierce expansion.

Building Features and Utilities

  • Electricity Connected
  • Sewer Connected
  • Water Connected
  • Frame
  • Stucco

Rent Roll

Unit typeUnitsBeds / bathsSizeRent per unitPro forma
2 Bedroom82 / 1.5—$154/mo—
2 Bedroom82 / 1.5—$117/mo—
2 Bedroom82 / 1.5—$167/mo—
2 Bedroom82 / 1.5—$125/mo—
2 Bedroom82 / 1.5—$125/mo—
2 Bedroom82 / 1.5—$125/mo—
2 Bedroom12 / 1.5—$142/mo—

49 units. Reported rent $79,752 a year ($6,646 a month).

Unit types and rents as the listing reports them in the MLS. Ask the listing broker for the leases and the trailing twelve months before you rely on them.

Operating Statement

Gross income$157,800/yr
Property taxes$43,595/yr
Total operating expenses$55,230/yr
Net operating income$102,570/yr
Cap rate at asking price4.7%

Income and expenses as the seller entered them in the MLS, not verified. A buyer's lender underwrites from the actual statements and the property tax and insurance a new owner will pay.

Presented by

BreakThru Realty · (786) 914-1017

Courtesy of

LPT Realty, LLC · flbrokers@lptrealty.com · Listing agent: John C DiGirolomo

BeachesMLS logo All listings featuring the BMLS logo are provided by BeachesMLS, Inc. This information is not verified for authenticity or accuracy and is not guaranteed. Copyright © 2026 BeachesMLS, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by BeachesMLS. Listings held by brokerage firms other than BreakThru Realty carry the name of the listing broker.

Request a tour or more information

Call or text BreakThru Realty at (786) 914-1017 or email sales@breakthrurealty.com to tour 642 & 646 Eldorado Street or to ask for what the listing leaves out: the rent roll, the leases and the operating statements.

Questions About 642 & 646 Eldorado Street

How much is 642 & 646 Eldorado Street?
642 & 646 Eldorado Street is listed at $2,170,000, about $271 per square foot of building. Ask for the rent roll, the existing leases and the operating statements: for an income property those, more than the asking price, show what the building is worth.
What is the cap rate on 642 & 646 Eldorado Street?
The listing reports net operating income of $102,570 a year, a cap rate of about 4.7% at the $2,170,000 asking price. Seller-reported income is a starting point: verify it against the rent roll, the leases and the operating statements during due diligence.
What is 642 & 646 Eldorado Street zoned?
The listing reports zoning of HI Medium. Permitted uses, parking and signage are set by the city or county zoning code, so confirm your intended use with the local zoning office before you close.
How big is 642 & 646 Eldorado Street?
The listing reports 8,008 square feet of building.
When was 642 & 646 Eldorado Street built?
642 & 646 Eldorado Street was built in 1984. For an older commercial building, ask about the roof, the HVAC and electrical systems, fire and life-safety compliance and whether a county building safety recertification is due.
What are the property taxes on 642 & 646 Eldorado Street?
The listing reports annual property taxes of $43,595 for 2025. Florida reassesses a non-homestead property after it sells, so budget for the new owner's bill rather than the current one.
How do I tour 642 & 646 Eldorado Street?
Request a tour from this page or call BreakThru Realty. A licensed agent will arrange access with the listing broker and ask for what the listing leaves out, such as the rent roll, the leases and the operating statements.

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