Oceanfront
New
For Sale
$1,400,000
600 S OCEAN Drive, Fort Pierce, FL 34949
Two ground-floor apartments are complemented by an upper-level area with a walk-out rooftop.
Property Size4,111 SF
Price / SF$340.55
Days on Market3
Property Features for 600 S OCEAN Drive
General Information
Standard status
Active
Size
4,111 SF
Total Parking Spaces
7
Property subtype
Triplex
Property Condition
Severity
Repairs Needed
Evidence
in need of some TLC
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
3
Amenities
rooftop
Building Details
Year Built
1952
Stories
2
Listing Agency:
The Keyes Company
(772) 242-8436
Listed By:
Joanne McCurdy · License #3023629
(772) 216-2821
Source:
Lehmannflorida
Added: Nov 3
Changed: Nov 4
Last Checked: Nov 4 at 2:33PM
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 The Keyes Company
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Investment Insights
Based on property information with market context.
This 4,111-square-foot oceanfront multifamily property, built in 1952, has two separate ground-floor apartments, each with one bedroom, a bathroom, kitchen, and living area. The second floor is configured as one large space and could be divided into two sides, each with two bedrooms, two bathrooms, and an open living area. A walk-out rooftop is also accessible from this level. The property needs repairs and updates and offers parking for up to seven cars.
At 600 S Ocean Drive in Fort Pierce, the property is near restaurants and parks and just off the city’s historic downtown. South Beach, the Sunrise Theatre, shopping, and a Saturday farmers market are among the nearby destinations.
At 600 S Ocean Drive in Fort Pierce, the property is near restaurants and parks and just off the city’s historic downtown. South Beach, the Sunrise Theatre, shopping, and a Saturday farmers market are among the nearby destinations.
Key Highlights
- Oceanfront multifamily property at 600 S Ocean Drive, Fort Pierce
- 4,111 square feet; built in 1952
- Two ground‑floor apartments, each with 1 bedroom, 1 bathroom, kitchen, and living area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,371
Cap Rate
4.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,207,420
$1.2M
Cap Rate 7%
$862,443
$862.4K
Cap Rate 9%
$670,789
$670.8K
Market Conditions
NOI Build-Up for 4,111 SF
Gross rent
$91.3K $22.20/SF
− Vacancy
−$5.0K −$1.22/SF
EGI
$86.2K $20.98/SF
− OpEx
−$25.9K −$6.29/SF
NOI
$60.4K $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 Rate 5%
$1,207,420
Cap Rate 7%
$862,443
Cap Rate 9%
$670,789
Alternative Uses
Best Use
Multifamily LT 5
$862.4K
$754.6K – $1.01M
NOI $60,371 @ 7.0% cap · market cap 4.31%
Second Best
Apartment 5plus
$800.7K
$700.7K – $934.2K
NOI $56,052 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$1.03M
$904.6K – $1.21M
NOI $72,370 @ 7.0% cap · market cap 5.17%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
104
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Two ground-floor apartments are complemented by an upper-level area with a walk-out rooftop.
Where is this triplex located?
The property is located at 600 S OCEAN Drive Fort Pierce, FL.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Oceanfront multifamily property at 600 S Ocean Drive, Fort Pierce; 4,111 square feet; built in 1952; Two ground‑floor apartments, each with 1 bedroom, 1 bathroom, kitchen, and living area
