Corner Duplex with Redevelopment
611 S 21st Street, Fort Pierce, FL 34950
Two separately metered, tenant-occupied units sit on a corner, double lot zoned for up to a 4-plex.
Type:Multifamily
Property size:
1,980 SFPrice / SF:
$189/SF- Added:
- Jan 27, 2026
- Days on Market:
- 149
- Last Refresh:
- Jun 20 at 5:56 am
Property Features for 611 S 21st Street
General Information
- Standard status
- Active
- Size
- 1,980 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1951
Listing office Dalton Wade Inc
Listing date Jan 27, 2026
Source Crexi
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 Dalton Wade Inc
HighLights
- Duplex built in 1951 with two separately metered, tenant‑occupied units
- Corner double lot zoned for up to a 4‑plex, allowing potential expansion or redevelopment
- Unit A: 3‑bedroom, 2‑bath rented at $1,300/month
- Unit B: recently updated 2‑bedroom, 1‑bath rented at $1,300/month
- Both units are currently tenant‑occupied for immediate rental income
Overview
This income-producing duplex sits on a corner, double lot and includes two separately metered residential units. Unit A is a 3-bedroom, 2-bath layout currently rented at $1,300 per month. Unit B is a recently updated 2-bedroom, 1-bath unit also rented at $1,300 per month, providing current rental income. The property is configured as a duplex today while remaining positioned for future density.
The oversized parcel is zoned for up to a 4-plex, creating flexibility for expansion or redevelopment beyond the existing two units. The asset’s corner location and double-lot footprint support a range of ownership strategies where a buyer may plan phased improvements or an alternative unit configuration, subject to applicable approvals.
For buyers seeking a residential income property, the current tenant occupancy and separate metering can simplify operations and support straightforward management. For investors or owner-operators interested in adding units, the zoning designation for up to a 4-plex offers a practical pathway to pursue additional development on-site. Overall, this is a duplex with both immediate income and zoning-based redevelopment options.
The oversized parcel is zoned for up to a 4-plex, creating flexibility for expansion or redevelopment beyond the existing two units. The asset’s corner location and double-lot footprint support a range of ownership strategies where a buyer may plan phased improvements or an alternative unit configuration, subject to applicable approvals.
For buyers seeking a residential income property, the current tenant occupancy and separate metering can simplify operations and support straightforward management. For investors or owner-operators interested in adding units, the zoning designation for up to a 4-plex offers a practical pathway to pursue additional development on-site. Overall, this is a duplex with both immediate income and zoning-based redevelopment options.
Local 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 | $44.0k | $22.20 |
| − Vacancy | −$2.4k | −$1.22 |
| EGI | $41.5k | $20.98 |
| − OpEx | −$12.5k | −$6.29 |
| NOI | $29.1k | $14.69 |
1,980 SF · lease $22.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$415.4K
$363.5K – $484.6K
NOI $29,077 @ 7.0% cap · market cap 7.75%
Second Best
Apartment 5plus
$385.7K
$337.5K – $449.9K
NOI $26,996 @ 7.0% cap · market cap 7.20%
Theoretical Best
Office A
$497.9K
$435.7K – $580.9K
NOI $34,856 @ 7.0% cap · market cap 9.29%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Fort Pierce
- County
- St. Lucie
- State
- Florida
- Longitude
- -80.3457903
- Latitude
- 27.442035
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Two separately metered, tenant-occupied units sit on a corner, double lot zoned for up to a 4-plex.
Where is this duplex located?
The property is located at 611 S 21st Street Fort Pierce, FL.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Duplex built in 1951 with two separately metered, tenant‑occupied units; Corner double lot zoned for up to a 4‑plex, allowing potential expansion or redevelopment; Unit A: 3‑bedroom, 2‑bath rented at $1,300/month
