Three-Unit Residential Income
301 Preston Court, Fort Pierce, FL 34950
For Sale
$455,000
Triplex with three income-producing units and long-term tenants near Fort Pierce amenities.
Property Size2,361 SF
Days on Market152
Property Features for 301 Preston Court
General Information
Standard status
Size
Property subtype
Additional Details
Business Included
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Rays Real Estate Services, Inc
Listed By:
Philippe J Alexander · License #3031254
(772) 370-4639
Source:
Meyerlucas
Added: Jun 9
Changed: Nov 3
Last Checked: Nov 6 at 3:38PM
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
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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 / Yr
$34,672
Cap Rate
7.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$693,440
$693.4K
Cap Rate 7%
$495,314
$495.3K
Cap Rate 9%
$385,244
$385.2K
Market Conditions
NOI Build-Up for 2,361 SF
Gross rent
$52.4K $22.20/SF
− Vacancy
−$2.9K −$1.22/SF
EGI
$49.5K $20.98/SF
− OpEx
−$14.9K −$6.29/SF
NOI
$34.7K $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%
$693,440
Cap Rate 7%
$495,314
Cap Rate 9%
$385,244
Alternative Uses
Best Use
Multifamily LT 5
$495.3K
$433.4K – $577.9K
NOI $34,672 @ 7.0% cap · market cap 7.62%
Second Best
Apartment 5plus
$459.9K
$402.4K – $536.5K
NOI $32,191 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$593.8K
$519.5K – $692.7K
NOI $41,563 @ 7.0% cap · market cap 9.13%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
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
$175,900
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Fort Pierce, FL
Properties on Market for Triplexes in Fort Pierce
Vacancy Rate% for Multifamily in South region
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
