Duplex with Detached
For Sale
$995,000
Pending
711 S Ocean Drive, Fort Pierce, FL 34949
ResidentialIncome, Fort Pierce, FL
Property Size2,524 SF
Lot Size0.32 Acres
Days on Market186
Property Features for 711 S Ocean Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Driveway
Patio and Porch features
Patio
Pets allowed
Yes
Exterior features
Patio
Subdivision
Ocean View Sub Rep Holley & Morgan
Standard status
Pending
APN
240150300790005
Size
2,524 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
OCEAN VIEW S/D REVISED PLAT HOLLEY AND MORGAN S S/D BLK 8 LOTS7 AND 10
Tax Annual Amount
10214
Legal Description
OCEAN VIEW S/D REVISED PLAT HOLLEY AND MORGAN S S/D BLK 8 LOTS7 AND 10
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1952
Number of units
2
Building materials
Block, Concrete, Stucco
Roof type
Aluminum
Additional Structures
Outbuilding
Listing Agency:
Beach Front Mann Realty
(772) 229-1111
Listed By:
Christopher Upton · License #3568178
(615) 995-9986
Added: Feb 27
Changed: Aug 19
Last Checked: Sep 1 at 10:06AM
MLS# M20054589
Copyright © 2026 Martin County REALTORS® of the Treasure Coast, Inc. 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.
This 2,524-square-foot duplex on Hutchinson Island includes four separate entrances, a detached rear garage, driveway parking, and a patio. The building was constructed in 1952 with block, concrete, and stucco materials, and has central heating, central air, an aluminum roof, public water, and public sewer. Electrical and plumbing systems were redone in 2024.
The 0.3184-acre property has street access from both sides and sits across A1A from the beach. Restaurants, bars, and the Fort Pierce Inlet are within walking distance. One side is leased annually while the other operates as a short-term rental, providing two distinct occupancy arrangements within the duplex.
The 0.3184-acre property has street access from both sides and sits across A1A from the beach. Restaurants, bars, and the Fort Pierce Inlet are within walking distance. One side is leased annually while the other operates as a short-term rental, providing two distinct occupancy arrangements within the duplex.
Key Highlights
- 2,524‑square‑foot duplex with four separate entrances
- Electrical and plumbing systems redone in 2024
- Detached rear garage with driveway parking
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$37,066
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.73%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Coastal duplex with separate entrances, mixed lease arrangements, and a detached rear garage on a deep island lot.
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: 2,524‑square‑foot duplex with four separate entrances; Electrical and plumbing systems redone in 2024; Detached rear garage with driveway parking
