Duplex with Detached
New
For Sale
$995,000
711 S Ocean Drive, Fort Pierce, FL 34949
Separate annual and short-term rental arrangements provide two distinct income streams.
Property Size2,524 SF
Days on Market5
Property Features for 711 S Ocean Drive
General Information
Standard status
Active
Size
2,524 SF
Property subtype
Duplex
Additional Details
Road Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,214
Building Details
Building Size
2,524 SF
Year Built
1952
Year Renovated
2024
Listing Agency:
Beach Front Mann Realty
Listed By:
Christopher Upton · License #3568178
(615) 995-9986
Source:
Meyerlucas
Added: Oct 12
Changed: Oct 15
Last Checked: Oct 15 at 1:53AM
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 Beach Front Mann Realty
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Investment Insights
Based on property information with market context.
This duplex on Hutchinson Island has a detached garage at the rear and four separate entrances. One side is leased on an annual basis; the other is used as a short-term rental. Electrical and plumbing work was completed in 2024. The lot has street access from both sides and room for additional construction, as described in the property information.
The property is across A1A from the beach and within walking distance of restaurants, bars, and the Fort Pierce Inlet, which leads to the Atlantic.
The property is across A1A from the beach and within walking distance of restaurants, bars, and the Fort Pierce Inlet, which leads to the Atlantic.
Key Highlights
- Duplex with one annual lease and one short‑term rental
- Four separate entrances
- Electrical and plumbing redone in 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,066
Cap Rate
3.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$741,320
$741.3K
Cap Rate 7%
$529,514
$529.5K
Cap Rate 9%
$411,844
$411.8K
Market Conditions
NOI Build-Up for 2,524 SF
Gross rent
$56.0K $22.20/SF
− Vacancy
−$3.1K −$1.22/SF
EGI
$53.0K $20.98/SF
− OpEx
−$15.9K −$6.29/SF
NOI
$37.1K $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%
$741,320
Cap Rate 7%
$529,514
Cap Rate 9%
$411,844
Alternative Uses
Best Use
Multifamily LT 5
$529.5K
$463.3K – $617.8K
NOI $37,066 @ 7.0% cap · market cap 3.73%
Second Best
Apartment 5plus
$491.6K
$430.2K – $573.6K
NOI $34,414 @ 7.0% cap · market cap 3.46%
Theoretical Best
Office A
$634.7K
$555.4K – $740.5K
NOI $44,432 @ 7.0% cap · market cap 4.47%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
104
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Separate annual and short-term rental arrangements provide two distinct income streams.
Where is this duplex located?
The property is located at 711 S Ocean Drive Fort Pierce, FL.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Duplex with one annual lease and one short‑term rental; Four separate entrances; Electrical and plumbing redone in 2024
