Renovated Triplex With Updated
For Sale
$499,000
Pending
204 17th N Street, Fort Pierce, FL 34950
MULTI_FAMILY - Fort Pierce, FL
Property Size2,596 SF
Lot Size0.33 Acres
Days on Market163
Property Features for 204 17th N Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
Medium
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 4, Bedroom 6, Bathroom 3, Bedroom 7, Bedroom 2, Bedroom 1, Bathroom 4
Subdivision
KILLER'S SUBDIVISION
Elementary school
Weatherbee
Middle school
Dan Mccarty
High school
Fort Pierce Westwood Academy
Directions
Off I95 east on Orange Avenue, north on N 17th St, property will be on your right hand side.
Standard status
Pending
APN
240951200170005
Size
2,596 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
KILLER'S S/D BLK 2 LOTS 12 AND 13
Tax Annual Amount
5359
Legal Description
KILLER'S S/D BLK 2 LOTS 12 AND 13
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Cooling system
Central Air, Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1941
Floors in Building
1
Number of units
3
Flooring type
Laminate
Building materials
CBS, Stucco
Roof type
Metal, Composition
Listing Agency:
Dalton Wade Inc
(888) 668-8283
Listed By:
Diego Pun Lay · License #3366247
(561) 708-0679
Added: Feb 27
Changed: Aug 5
Last Checked: Aug 9 at 1:06AM
MLS# R11167138
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.
Renovated triplex at 204 17th N Street in Fort Pierce, FL. The property includes three turnkey units and features updated kitchens and bathrooms, fresh paint, and laminate flooring. Construction is CBS with stucco, supported by durable roofing with a mix of metal and composition roofing across the units. Cooling includes wall/window units and central air, and the property is served by public water with public sewer.
Set on a 0.33-acre lot totaling 2,596 square feet, the building was constructed in 1941. Zoning is listed as “Medium,” and the configuration offers immediate, move-in-ready units designed for low-maintenance upkeep.
Set on a 0.33-acre lot totaling 2,596 square feet, the building was constructed in 1941. Zoning is listed as “Medium,” and the configuration offers immediate, move-in-ready units designed for low-maintenance upkeep.
Key Highlights
- Three turnkey units
- 0.33‑acre lot with 2,596 SF total area
- Renovated interiors with updated kitchens and bathrooms plus fresh paint
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
$38,123
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
7.64%
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%
$762,460
$762.5K
Cap Rate 7%
$544,614
$544.6K
Cap Rate 9%
$423,589
$423.6K
Market Conditions
NOI Build-Up for 2,596 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
$57.6K $22.20/SF
− Vacancy
−$3.2K −$1.22/SF
EGI
$54.5K $20.98/SF
− OpEx
−$16.3K −$6.29/SF
NOI
$38.1K $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%
$762,460
Cap Rate 7%
$544,614
Cap Rate 9%
$423,589
Alternative Uses
Best Use
Multifamily LT 5
$544.6K
$476.5K – $635.4K
NOI $38,123 @ 7.0% cap · market cap 7.64%
Second Best
Apartment 5plus
$505.6K
$442.4K – $589.9K
NOI $35,395 @ 7.0% cap · market cap 7.09%
Theoretical Best
Office A
$652.9K
$571.3K – $761.7K
NOI $45,700 @ 7.0% cap · market cap 9.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
361
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
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Frequently Asked Questions
What type of property is this?
Triplex - Renovated triplex with updated kitchens and bathrooms, laminate flooring, and public water and sewer service.
Where is this triplex located?
The property is located at 204 17th N Street Fort Pierce, FL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Three turnkey units; 0.33‑acre lot with 2,596 SF total area; Renovated interiors with updated kitchens and bathrooms plus fresh paint
