Three-Unit Residential Income
For Sale
Contact for pricing
301 Preston Court, Fort Pierce, FL 34950
Triplex with three income-producing units and long-term tenants near Fort Pierce amenities.
Property Size2,911 SF
Price / SF$156.30
Days on Market61
Property Features for 301 Preston Court
General Information
Standard status
Active
Size
2,911 SF
Property subtype
Multifamily
Zoning
Medium Den
Net Operating Income
$29,000
Additional Details
Business Included
Yes
Multifamily Units
3
Building Details
Year Built
1955
Units
4
Listing Agency:
Rays Real Estate Services, Inc
(561) 464-0420
Listed By:
Philippe Alexander · License #3031254
Source:
Crexi
Added: Jun 10
Changed: Aug 8
Last Checked: Aug 8 at 1:43PM
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 Rays Real Estate Services, Inc
Investment Insights
Based on property information with market context.
This three-unit residential income property is configured as a triplex and features three income-producing units with long-term, established tenants. The current arrangement supports straightforward ownership for investors seeking an already-rented setup rather than a ground-up repositioning.
The property is located in the heart of Fort Pierce, with convenient access to area beaches and local destinations. Public remarks also note proximity to popular restaurants, shopping, and attractions.
From an investment perspective, the tenant history described in the offering can appeal to buyers looking for immediate rental income from multiple units within a single asset. For owner-occupants or operators, the triplex layout allows for flexible personal and investment use while maintaining the existing structure of three separate rental units.
The property is located in the heart of Fort Pierce, with convenient access to area beaches and local destinations. Public remarks also note proximity to popular restaurants, shopping, and attractions.
From an investment perspective, the tenant history described in the offering can appeal to buyers looking for immediate rental income from multiple units within a single asset. For owner-occupants or operators, the triplex layout allows for flexible personal and investment use while maintaining the existing structure of three separate rental units.
Key Highlights
- 3‑unit triplex built in 1955 with three income‑producing units
- Long‑term, established tenants in place
- Located in the heart of Fort Pierce near beaches, restaurants, shopping, and local attractions
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
$39,690
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
8.72%
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%
$793,800
$793.8K
Cap Rate 7%
$567,000
$567.0K
Cap Rate 9%
$441,000
$441.0K
Market Conditions
NOI Build-Up for 2,911 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
$75.8K $26.04/SF
− Vacancy
−$3.6K −$1.25/SF
EGI
$72.2K $24.79/SF
− OpEx
−$32.5K −$11.16/SF
NOI
$39.7K $13.63/SF
Area
St. Lucie County, FL
Vacancy
4.80%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
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%
$793,800
Cap Rate 7%
$567,000
Cap Rate 9%
$441,000
Alternative Uses
Best Use
Multifamily LT 5
$610.7K
$534.4K – $712.5K
NOI $42,749 @ 7.0% cap · market cap 9.40%
Second Best
Apartment 5plus
$567.0K
$496.1K – $661.5K
NOI $39,690 @ 7.0% cap · market cap 8.72%
Theoretical Best
Office A
$732.1K
$640.6K – $854.1K
NOI $51,245 @ 7.0% cap · market cap 11.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,137
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 - Triplex with three income-producing units and long-term tenants near Fort Pierce amenities.
Where is this triplex located?
The property is located at 301 Preston Court Fort Pierce, FL.
What is the asking price?
The asking price for this property is $455,000.
What are key features of this property?
This property features: 3‑unit triplex built in 1955 with three income‑producing units; Long‑term, established tenants in place; Located in the heart of Fort Pierce near beaches, restaurants, shopping, and local attractions
