Corner-Lot
New
For Sale
$418,000
1111 N 21ST Street, Fort Pierce, FL 34950
MULTI_FAMILY - Fort Pierce, FL
Property Size1,908 SF
Lot Size0.32 Acres
Price / SF$219.08
Days on Market6
Property Features for 1111 N 21ST Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
Medium Den
Bedrooms
6
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 3, Bedroom 6, Bedroom 2, Bathroom 2, Bedroom 1, Bathroom 3, Bathroom 4, Bedroom 4, Bathroom 1
Pets allowed
Yes, No
Subdivision
SUNNY ACRES SUBDIVISION
Standard status
Active
APN
240470200230008
Size
1,908 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SUNNY ACRES S/D NO 1 BLK 3 LOTS 2 AND 4 AND E 5 FT OF VAC ALLEY ADJ ON W
Tax Annual Amount
4428
Legal Description
SUNNY ACRES S/D NO 1 BLK 3 LOTS 2 AND 4 AND E 5 FT OF VAC ALLEY ADJ ON W
Utilities
Sewer type
Public Sewer
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1956
Floors in Building
1
Number of units
3
Flooring type
Tile
Building materials
Block, CBS, Stone, Stucco
Roof type
Composition, Shingle
Listing Agency:
EXP Realty LLC
(888) 883-8509
Listed By:
Ethan McAuliffe PA · License #3348418
(772) 359-0300
Added: Aug 4
Changed: Aug 8
Last Checked: Aug 9 at 12:06AM
MLS# B26060433
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,908-square-foot CBS triplex contains three residential units configured as 3/1, 2/1, and 1/1 layouts. The property is fully rented with monthly tenancy and includes tile flooring, window or wall/window unit cooling, composition and shingle roofing, and block, CBS, stone, and stucco construction. Built in 1956, the building is served by public water and public sewer.
The triplex occupies a 0.32-acre corner lot next to Lincoln Park Academy. Medium Den zoning is identified for the property. The offering reflects an 8% CAP rate, with the three-unit configuration and existing rental occupancy providing the primary operating profile.
The triplex occupies a 0.32-acre corner lot next to Lincoln Park Academy. Medium Den zoning is identified for the property. The offering reflects an 8% CAP rate, with the three-unit configuration and existing rental occupancy providing the primary operating profile.
Key Highlights
- Three‑unit configuration with 3/1, 2/1, and 1/1 layouts
- 1,908 square feet of building area
- Fully rented with monthly tenancy
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 - Three residential units provide one-, two-, and three-bedroom layouts in a fully rented property.
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: Three‑unit configuration with 3/1, 2/1, and 1/1 layouts; 1,908 square feet of building area; Fully rented with monthly tenancy
