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    Duplex Near Beach, Fort Pierce Title is generated by Realmo AI

    11099 Ridge Avenue, Fort Pierce, FL 34982

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    For Sale
    $699,000

    MULTI_FAMILY - Fort Pierce, FL

    Property size:
    2,848 SF
    Lot size:
    0.35 Acres
    Price / SF:
    $245/SF
    Added:
    Mar 11, 2025
    Days on Market:
    442
    Last Refresh:
    May 26 at 5:06 pm

    Property Features for 11099 Ridge Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    RS-4Co
    Bedrooms
    6
    Bathrooms
    4
    Rooms
    Bedroom 6, Bathroom 3, Bathroom 4, Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 5, Bedroom 1, Bedroom 2, Bedroom 4
    Window features
    Bay Window(s)
    Patio and Porch features
    Patio
    Pool private
    1
    Standard status
    Active
    APN
    353250300790104
    Size
    2,848 SF
    Lot size
    0.35 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    B S HARRIS S/D BLK 6 FROM SE COR LOT 2 RUN NWLY ALG W R/W RIDGE AV 240 FT TO POB, TH CONT ALG SD R/W 80 FT, TH WLY // WI
    Tax Annual Amount
    8914

    Utilities

    Utilities
    Cable Available
    Sewer type
    Septic Tank
    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air, Electric
    Water source
    Well

    Building Details

    Year built
    1980
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Tile - Ceramic
    Building materials
    Frame
    Roof type
    Composition

    We can help!

    Listing Contact
    Sergio Luis Martinez
    Sergio Luis Martinez

    Listing agent Sergio Luis Martinez License #637989

    Listing office LPT Realty, LLC 1400 S International Parkw Suite 1020, Lake Mary, FL

    Listing date Mar 11, 2025

    MLS# R11070336 Listing URL

    Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Income‑generating duplex with potential for $5,000 total monthly rental income.
    • Minutes from the beach.
    • Each unit has access to a private pool.
    • Walking distance to Indian River.
    • Both kitchens and bathrooms have been remodeled.
    • Each unit features 3 bedrooms and 2 bathrooms.

    Overview

    This multifamily duplex in Fort Pierce, Florida, presents an income opportunity, situated minutes from the beach. The property, zoned RS-4Co, features two units. Unit A, a 3-bedroom, 2-bathroom configuration, is currently rented for $2,500. Unit B, also a 3-bedroom, 2-bathroom layout, is rented for $2,000, with the tenants providing care for the duplex. The potential rental income for Unit B is $2,500. Both units have access to a private pool and are within walking distance of the Indian River. The kitchens and bathrooms in both units have been remodeled. The property size is 2,848 square feet and sits on a lot of 0.35 acres.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $464.7K
    NOI $41,824 @ 9.00% cap · cautious / downside scenario
    Moderate
    $597.5K
    NOI $41,824 @ 7.00% cap · market / base-case scenario
    Aggressive
    $836.5K
    NOI $41,824 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $63.2k $22.20
    − Vacancy −$3.5k −$1.22
    EGI $59.7k $20.98
    − OpEx −$17.9k −$6.29
    NOI $41.8k $14.69
    2,848 SF · lease $22.20/SF/yr · vacancy 5.50% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $597.5K
    $522.8K – $697.1K (±1% cap)
    NOI $41,824 @ 7.0% cap · market cap 5.98%
    Second Best
    Apartment 5plus
    $554.7K
    $485.4K – $647.2K (±1% cap)
    NOI $38,831 @ 7.0% cap · market cap 5.56%
    Theoretical Best
    Office A
    $716.2K
    $626.7K – $835.6K (±1% cap)
    NOI $50,136 @ 7.0% cap · market cap 7.17%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Building Supply Auto Repair Shop Storage Facility (Bike/Boat/Book/etc) Store Home Appliance Store Plumbing Service Carpet & Flooring Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fort Pierce
    County
    St. Lucie
    State
    Florida
    Longitude
    -80.258493
    Latitude
    27.30308

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    FAQs

    What type of property is this?
    Duplex - Income-generating duplex near the beach in Fort Pierce, Florida.
    Where is this duplex located?
    The property is located at 11099 Ridge Avenue Fort Pierce, FL.
    What is the asking price?
    The asking price for this property is $699,000.
    What are key features of this property?
    This property features: Income‑generating duplex with potential for $5,000 total monthly rental income.; Minutes from the beach.; Each unit has access to a private pool.
    (786) 326-7698
    We can help!
    Listing Contact
    Sergio Luis Martinez
    Sergio Luis Martinez
    Real Estate License ID: 637989
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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