Income-Producing Corner-Lot
For Sale
$418,000
1111 N 21ST Street, Fort Pierce, FL 34950
Residential Income, Fort Pierce, FL
Property Size1,908 SF
Lot Size0.32 Acres
Price / SF$219.08
Days on Market42
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 3, Bedroom 5, Bedroom 6, Bathroom 3, Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 2, Bathroom 4
Pets allowed
No, Yes
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: Sep 14
Last Checked: Sep 14 at 5:06PM
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 1956 triplex contains three residential units configured as 3/1, 2/1, and 1/1 layouts. The property provides 1,908 square feet on a 0.32-acre corner lot, with block and stucco construction, tile flooring, shingle and composition roofing, and wall or window-unit cooling. Public water and sewer serve the property.
All three units are currently rented on a monthly basis. The property is adjacent to Lincoln Park Academy and is located minutes from downtown Fort Pierce and area beaches. It is offered with an 8% cap rate and carries Medium Den zoning.
All three units are currently rented on a monthly basis. The property is adjacent to Lincoln Park Academy and is located minutes from downtown Fort Pierce and area beaches. It is offered with an 8% cap rate and carries Medium Den zoning.
Key Highlights
- Three‑unit mix: 3/1, 2/1, and 1/1 layouts
- 1,908‑square‑foot triplex on a 0.32‑acre corner lot
- 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
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
327
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Fully rented three-unit property with public water and sewer service in Fort Pierce.
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 mix: 3/1, 2/1, and 1/1 layouts; 1,908‑square‑foot triplex on a 0.32‑acre corner lot; Fully rented with monthly tenancy
