CBS Triplex on Corner
New
For Sale
$418,000
1111 N 21ST Street, Fort Pierce, FL 34950
Fully rented three-unit property with monthly occupancy and a concrete block structure.
Property Size2,805 SF
Price / SF$219.08
Days on Market5
Property Features for 1111 N 21ST Street
General Information
Standard status
Active
Size
2,805 SF
Total Parking Spaces
1
Property subtype
Residential Income
Zoning
Medium Den
Occupancy
100%
Net Operating Income
$32,279
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Additional Details
Cap Rate
8%
Taxes and HOA fees
Annual Taxes
$4,428
Building Details
Building Size
2,805 SF
Year Built
1956
Stories
1
Listing Agency:
EXP Realty LLC
(772) 359-0300
Listed By:
Ethan McAuliffe PA · License #3348418
(772) 359-0300
Source:
Laerrealty
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 11 at 4:47AM
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 EXP Realty LLC
Investment Insights
Based on property information with market context.
This three-unit property contains a 3/1, a 2/1, and a 1/1 residence within 1,908 square feet. The CBS construction dates to 1956, and the building sits on a corner lot. All units are currently rented on a monthly basis.
The property is located next to Lincoln Park Academy and is described as minutes from downtown and the beaches. Zoning is identified as Medium Den. The offering is presented with an 8% CAP rate, providing a concise overview of the property’s current rental configuration and reported operating position.
The property is located next to Lincoln Park Academy and is described as minutes from downtown and the beaches. Zoning is identified as Medium Den. The offering is presented with an 8% CAP rate, providing a concise overview of the property’s current rental configuration and reported operating position.
Key Highlights
- 3/1, 2/1, 1/1 unit mix
- 1,908 SF CBS triplex built in 1956
- Corner‑lot property next to Lincoln Park Academy
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,020
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.70%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$560,400
$560.4K
Cap Rate 7%
$400,286
$400.3K
Cap Rate 9%
$311,333
$311.3K
Market Conditions
NOI Build-Up for 1,908 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$42.4K $22.20/SF
− Vacancy
−$2.3K −$1.22/SF
EGI
$40.0K $20.98/SF
− OpEx
−$12.0K −$6.29/SF
NOI
$28.0K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$560,400
Cap Rate 7%
$400,286
Cap Rate 9%
$311,333
Alternative Uses
Best Use
Multifamily LT 5
$400.3K
$350.3K – $467.0K
NOI $28,020 @ 7.0% cap · market cap 6.70%
Second Best
Apartment 5plus
$371.6K
$325.2K – $433.6K
NOI $26,015 @ 7.0% cap · market cap 6.22%
Theoretical Best
Office A
$479.8K
$419.9K – $559.8K
NOI $33,588 @ 7.0% cap · market cap 8.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
234
Businesses Nearby
Explore this area
Business Placement
Demographics for 34950, FL
16,582
Population
8,055
Households
2.1
Avg Household Size
37
Median Age
14%
College-Educated
64%
High-School Grad
5.2 sq mi
ZIP Area
3,189
Density / Sq Mi
$32,707
Median Household Income
$29,214
Median Earnings
$1,121
Median Rent
$175,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Fully rented three-unit property with monthly occupancy and a concrete block structure.
Where is this triplex located?
The property is located at 1111 N 21ST Street Fort Pierce, FL.
What is the asking price?
The asking price for this property is $418,000.
What are key features of this property?
This property features: 3/1, 2/1, 1/1 unit mix; 1,908 SF CBS triplex built in 1956; Corner‑lot property next to Lincoln Park Academy
