$350,000
●
House -
Off Market
120 A. Backus Avenue
Fort Pierce, FL 34950
2 Beds
1 Bath
922 Ft²
$608,183
RealtyHop Estimate
-0.62%
Since Oct 1, 2023
National-US
Primary Model
About This Property
The famed "Pineapple Cottage" is now ready for a new chapter in its
long life. Nice wrap around porch with City Marina and water views,
across from Intracoastal Waterway. Used for the last 17 years as an
awesome law office; the owner is ready to say goodbye to her. The
house can be used as an office or be made back into a historic
cottage that it was for many, many years. This extremely unique
property is across from the new Kings Landing, Marriott Hotel,
residential and business development that just broke ground. Use
Showing Time to see this one of a kind property in downtown Ft
Pierce, Florida.
Unit Size
922 Ft²
Days on Market
391 days
Land Size
0.25 acres
Price per sqft
$664
Property Type
House
Property Taxes
$255
HOA Dues
-
Year Built
1901
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Cap Rate
100% Occupancy
N/A (extreme outlier) What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Last updated: 2 months ago (Beaches MLS #F10344654)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Sep 9, 2025 | Listed | $1 | |
| Listed | |||
| | |||
|
Rare investor opportunity in downtown Fort Pierce. Directly across from King’s Landing ($100M+ mixed-use project), the planned Marriott, and marina expansion, this property is entitled for 3 STR units with potential to expand to 6 units (±1,000 SF each).Investor Highlights: Projected STR gross revenue: $225K–$350K annually. Potential stabilized cap rate: 7–8%. CRA zone with incentives, grants, and streamlined approvals. Excellent walk score to dining, entertainment, and waterfront amenities. Across from major redevelopment, appreciating property values and overall CBD gentrification. Seller financing may be considered for qualified buyers, creating a competitive advantage in today’s high-interest-rate environment and enhance acquisition feasibility/ project structuring. Highest bid pricing
| |||
| Sep 20, 2023 | Sold | ||
| Sold | |||
| Aug 18, 2022 | Listed by Waterbridge Real Estate LLC | $612,000 | |
| Listed by Waterbridge Real Estate LLC | |||
| | |||
|
The famed "Pineapple Cottage" is now ready for a new chapter in its long life. Nice wrap around porch with City Marina and water views, across from Intracoastal Waterway. Used for the last 17 years as an awesome law office; the owner is ready to say goodbye to her. The house can be used as an office or be made back into a historic cottage that it was for many, many years. This extremely unique property is across from the new Kings Landing, Marriott Hotel, residential and business development that just broke ground. Use Showing Time to see this one of a kind property in downtown Ft Pierce, Florida.
| |||
| Aug 8, 2005 | Sold | ||
| Sold | |||
| Aug 18, 1999 | Sold | ||
| Sold | |||
Property Highlights
Parking Available
Air Conditioning
With View
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
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About Fort Pierce
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Listed by: Scott A Gooding
Waterbridge Real Estate LLC
Last Updated: 2 months ago
Data Source: Beaches MLS, MLS# F10344654
All listings featuring the BMLS logo are provided by Beaches MLS, Inc. This information is not verified for authenticity or accuracy and is not guaranteed. Copyright 2026 Beaches Multiple Listing Service, Inc. 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. The listing broker's offer of compensation is made to participants of BeachesMLS, where the listing is filed, as well as participants of MLSs participating in MLSAdvantage or a data share with BeachesMLS.
Waterbridge Real Estate LLC
Last Updated: 2 months ago
Data Source: Beaches MLS, MLS# F10344654
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Phone: 425-283-2930
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