Furnished Duplex Near
For Sale
$550,000
1400 Binney Drive, Fort Pierce, FL 34949
Residential Income, Fort Pierce, FL
Property Size1,859 SF
Lot Size0.23 Acres
Price / SF$295.86
Days on Market59
Property Features for 1400 Binney Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
HI Medium
Bedrooms
4
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 3
Window features
Storm Window(s), Blinds
Patio and Porch features
Porch, Patio
Pets allowed
Yes, No
Subdivision
Fort Pierce
Lot features
Corner Lot
Standard status
Active
APN
240150102670004
Size
1,859 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
FT PIERCE BCH S/D BLK 15 FROM SE COR LOT 11 RUN WLY ALG S LI LOT 11 87.52 FT FOR POB, TH NLY 137.08 FT TO PT ON NLY LI LOT 10, SD PT BEING 5
Tax Annual Amount
11992
Legal Description
FT PIERCE BCH S/D BLK 15 FROM SE COR LOT 11 RUN WLY ALG S LI LOT 11 87.52 FT FOR POB, TH NLY 137.08 FT TO PT ON NLY LI LOT 10, SD PT BEING 5
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Electric, Ceiling Fan(s)
Water source
Public
Building Details
Year built
1950
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Building materials
Frame, Stucco
Roof type
Flat
Listing Agency:
Waterfront Properties & Club C
(561) 746-7272
Listed By:
Madison Wood · License #3541413
(561) 941-0340
Added: Aug 19
Changed: Oct 15
Last Checked: Oct 16 at 12:06PM
MLS# B26065894
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.
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Investment Insights
Based on property information with market context.
This 1,859-square-foot duplex in Fort Pierce offers two residential units on a 0.23-acre corner parcel. One unit is leased through May 2027, while the other is furnished and can support a new tenant, seasonal occupancy, or owner residence. The property includes two bathrooms, vinyl flooring, central heating, central air, electric cooling, ceiling fans, a porch, and a patio.
The property is approximately 2 minutes from the beach and nearby restaurants. There is no HOA, and the lot provides space for boat or RV parking. Public water and sewer serve the property, with cable available. The roof was updated in 2018 and the A/C in 2022. Built in 1950, the duplex has frame and stucco construction and is identified with HI Medium zoning.
The property is approximately 2 minutes from the beach and nearby restaurants. There is no HOA, and the lot provides space for boat or RV parking. Public water and sewer serve the property, with cable available. The roof was updated in 2018 and the A/C in 2022. Built in 1950, the duplex has frame and stucco construction and is identified with HI Medium zoning.
Key Highlights
- Duplex on a 0.23‑acre corner lot
- 1,859 square feet with two bathrooms
- One unit leased through May 2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,300
Cap Rate
4.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$546,000
$546.0K
Cap Rate 7%
$390,000
$390.0K
Cap Rate 9%
$303,333
$303.3K
Market Conditions
NOI Build-Up for 1,859 SF
Gross rent
$41.3K $22.20/SF
− Vacancy
−$2.3K −$1.22/SF
EGI
$39.0K $20.98/SF
− OpEx
−$11.7K −$6.29/SF
NOI
$27.3K $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 Rate 5%
$546,000
Cap Rate 7%
$390,000
Cap Rate 9%
$303,333
Alternative Uses
Best Use
Multifamily LT 5
$390.0K
$341.3K – $455.0K
NOI $27,300 @ 7.0% cap · market cap 4.96%
Second Best
Apartment 5plus
$362.1K
$316.8K – $422.5K
NOI $25,347 @ 7.0% cap · market cap 4.61%
Theoretical Best
Office A
$467.5K
$409.1K – $545.4K
NOI $32,726 @ 7.0% cap · market cap 5.95%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
226
Businesses Nearby
Explore this area
Business Placement
Demographics for 34949, FL
8,027
Population
8,033
Households
1
Avg Household Size
65
Median Age
47%
College-Educated
96%
High-School Grad
9.4 sq mi
ZIP Area
854
Density / Sq Mi
$92,188
Median Household Income
$37,219
Median Earnings
$1,484
Median Rent
$427,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Corner-lot duplex with one furnished unit and a second unit leased through May 2027.
Where is this duplex located?
The property is located at 1400 Binney Drive Fort Pierce, FL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Duplex on a 0.23‑acre corner lot; 1,859 square feet with two bathrooms; One unit leased through May 2027
