Three-Unit Beachside Apartment
New
For Sale
$1,100,000
321 S Ocean Drive, Fort Pierce, FL 34949
MULTI_FAMILY - Fort Pierce, FL
Property Size2,448 SF
Price / SF$449.35
Days on Market2
Property Features for 321 S Ocean Drive
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
,
Zoning description
Multiple
Parking
5
Parking features
Assigned
Window features
Blinds
Patio and Porch features
Porch
Interior features
ClosetCabinetry, KitchenIsland
Exterior features
Porch
Subdivision
Fort Pierce Bch
Lot features
Less Than Quarter Acre
View
Ocean
Elementary school district
St Lucie County Schools
Middle school district
St Lucie County Schools
High school district
St Lucie County Schools
Directions
Seaway Drive to A1A South/ Ocean Drive, Building is 800 ft on the right side of the road
Standard status
Active
APN
240150101030007
Size
2,448 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
FT PIERCE BEACH S/D BLK 7 LOT 7
Tax Annual Amount
20023
Legal Description
FT PIERCE BEACH S/D BLK 7 LOT 7
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1983
Floors in Building
2
Flooring type
Tile
Building materials
Block, Concrete, Stucco
Roof type
Metal
Listing Agency:
Alex MacWilliam, Inc.
(772) 231-6509
Listed By:
Bill Baysura · License #3127176
(772) 713-5214
Added: Aug 1
Last Checked: Aug 2 at 7:06PM
MLS# 299018
Copyright © 2026 Realtors Association of Indian River County. 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.
Three-unit apartment building located directly across from the beach at 321 S Ocean Drive, Fort Pierce. The property includes a 3-bedroom/2-bath second-floor unit with ocean views, a 2-bedroom/1-bath first-floor unit, and a first-floor studio 1/1 with kitchenette. Interior features include closet cabinetry and a kitchen island. Exterior amenities include a porch, with concrete block construction, stucco and concrete elements, and tile flooring. Central heating and central air support year-round comfort, and the roof is metal.
Beach access is directly across from the building, and it is owned and maintained by the City of Fort Pierce. The property provides assigned parking, and it is described as within a 5-minute walk to the Ft. Pierce Inlet.
Built in 1983, the building is supplied by public water and public sewer. Cooling and heating are both listed as central systems.
Beach access is directly across from the building, and it is owned and maintained by the City of Fort Pierce. The property provides assigned parking, and it is described as within a 5-minute walk to the Ft. Pierce Inlet.
Built in 1983, the building is supplied by public water and public sewer. Cooling and heating are both listed as central systems.
Key Highlights
- Three‑unit building across from the beach at 321 S Ocean Drive, Fort Pierce
- Unit mix: 3 bed/2 bath second‑floor, 2 bed/1 bath first‑floor, and studio 1/1 with kitchenette
- Concrete block construction with high‑impact glass, tile floors, and a porch
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $54.3k | $22.20 |
| − Vacancy | −$3.0k | −$1.22 |
| EGI | $51.4k | $20.98 |
| − OpEx | −$15.4k | −$6.29 |
| NOI | $35.9k | $14.69 |
2,448 SF · lease $22.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$513.6K
$449.4K – $599.2K
NOI $35,950 @ 7.0% cap · market cap 3.27%
Second Best
Apartment 5plus
$476.8K
$417.2K – $556.3K
NOI $33,377 @ 7.0% cap · market cap 3.03%
Theoretical Best
Office A
$615.6K
$538.7K – $718.3K
NOI $43,095 @ 7.0% cap · market cap 3.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
27
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 - Three-unit concrete block building across from the beach with central HVAC, metal roof, and assigned parking.
Where is this triplex located?
The property is located at 321 S Ocean Drive Fort Pierce, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Three‑unit building across from the beach at 321 S Ocean Drive, Fort Pierce; Unit mix: 3 bed/2 bath second‑floor, 2 bed/1 bath first‑floor, and studio 1/1 with kitchenette; Concrete block construction with high‑impact glass, tile floors, and a porch
