Renovated Triplex on Hutchinson
For Sale
Contact for pricing
1412 Bayshore Dr, Fort Pierce, FL 34949
Renovated triplex in Fort Pierce, ideal for investors.
Property Size3,501 SF
Price / SF$221.37
Days on Market143
Property Features for 1412 Bayshore Dr
General Information
Standard status
Active
Size
3,501 SF
Property subtype
Multifamily
Zoning
R4-A
Occupancy
100%
Building Details
Year Built
1957
Year Renovated
2022
Buildings
1
Stories
2
Units
3
Tenancy
Multi
Listing Agency:
Jeremiah Baron & Co. Commercial Real Estate LLC
(772) 291-8443
Listed By:
Conor Mackin · License #BK3495289
Source:
Crexi
Added: Mar 23
Changed: Aug 8
Last Checked: Aug 8 at 6:36AM
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 Jeremiah Baron & Co. Commercial Real Estate LLC
Investment Insights
Based on property information with market context.
Located on Hutchinson Island in Fort Pierce, Florida, this renovated triplex offers an investment opportunity in a desirable coastal location. The two-story property includes a 2-bedroom, 2-bathroom unit, a 1-bedroom, 1-bathroom unit, and an efficiency unit. The property generates rental income ranging from $1,150 to $2,200 per month, with flexible leasing options including seasonal and short-term rentals. This property is suited for investors seeking cash flow, rental flexibility, and long-term appreciation in a beachside market. The property size is 3,501 square feet.
Key Highlights
- Prime investment opportunity on Hutchinson Island, Fort Pierce, FL.
- Triplex with a versatile unit mix: 2‑bed/2‑bath, 1‑bed/1‑bath, and efficiency unit.
- Generates rental income from $1,150 to $2,200 per month.
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
$51,413
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
6.63%
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%
$1,028,260
$1.0M
Cap Rate 7%
$734,471
$734.5K
Cap Rate 9%
$571,256
$571.3K
Market Conditions
NOI Build-Up for 3,501 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
$77.7K $22.20/SF
− Vacancy
−$4.3K −$1.22/SF
EGI
$73.4K $20.98/SF
− OpEx
−$22.0K −$6.29/SF
NOI
$51.4K $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%
$1,028,260
Cap Rate 7%
$734,471
Cap Rate 9%
$571,256
Alternative Uses
Best Use
Multifamily LT 5
$734.5K
$642.7K – $856.9K
NOI $51,413 @ 7.0% cap · market cap 6.63%
Second Best
Apartment 5plus
$681.9K
$596.7K – $795.6K
NOI $47,735 @ 7.0% cap · market cap 6.16%
Theoretical Best
Office A
$880.5K
$770.4K – $1.03M
NOI $61,632 @ 7.0% cap · market cap 7.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Renovated triplex in Fort Pierce, ideal for investors.
Where is this triplex located?
The property is located at 1412 Bayshore Dr Fort Pierce, FL.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Prime investment opportunity on Hutchinson Island, Fort Pierce, FL.; Triplex with a versatile unit mix: **2‑bed/2‑bath, 1‑bed/1‑bath, and efficiency unit.**; Generates rental income from $1,150 to $2,200 per month.
