Duplex with Private
For Sale
$680,000
11099 Ridge Avenue, Fort Pierce, FL 34982
Residential Income, Fort Pierce, FL
Property Size2,848 SF
Lot Size0.35 Acres
Price / SF$238.76
Days on Market535
Property Features for 11099 Ridge Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RS-4Co
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 2, Bathroom 3, Bedroom 2, Bathroom 1, Bedroom 4, Bathroom 4, Bedroom 5, Bedroom 6, Bedroom 1
Window features
Bay Window(s)
Patio and Porch features
Patio
Pool private
1
Subdivision
B S HARRIS SUBDIVISION
Directions
Dir: Walton Road to Indian River Drive, left to your first left (Main St) follow road to the Walton Community Center. Unit is on the left.
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
Legal 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
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Well
Amenities
private pool
Building Details
Year built
1980
Floors in Building
1
Number of units
2
Flooring type
Tile - Ceramic
Building materials
Frame
Roof type
Composition
Listing Agency:
LPT Realty, LLC
(877) 366-2213
Listed By:
Sergio Luis Martinez · License #637989
(786) 326-7698
Added: Mar 11, 2025
Changed: Aug 27
Last Checked: Aug 27 at 9:06PM
MLS# R11070336
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.
Investment Insights
Based on property information with market context.
This duplex in Fort Pierce contains two three-bedroom, two-bath units, creating a combined six-bedroom, four-bath configuration within 2,848 square feet. Kitchens and bathrooms have been remodeled, and both residences feature ceramic tile flooring, central heating, and central air conditioning. Each unit has access to a private pool, with patio space included.
The property occupies 0.35 acres at 11099 Ridge Avenue and is within walking distance of the Indian River. The site is also described as minutes from the beach. Built in 1980, the frame construction includes a composition roof, well water, septic service, and cable availability. RS-4Co zoning applies to the property.
The property occupies 0.35 acres at 11099 Ridge Avenue and is within walking distance of the Indian River. The site is also described as minutes from the beach. Built in 1980, the frame construction includes a composition roof, well water, septic service, and cable availability. RS-4Co zoning applies to the property.
Key Highlights
- Two‑unit duplex with a combined 6 bedrooms and 4 bathrooms
- 2,848 square feet on a 0.35‑acre lot
- Kitchens and bathrooms remodeled in both units
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
$41,824
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
6.15%
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%
$836,480
$836.5K
Cap Rate 7%
$597,486
$597.5K
Cap Rate 9%
$464,711
$464.7K
Market Conditions
NOI Build-Up for 2,848 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
$63.2K $22.20/SF
− Vacancy
−$3.5K −$1.22/SF
EGI
$59.7K $20.98/SF
− OpEx
−$17.9K −$6.29/SF
NOI
$41.8K $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%
$836,480
Cap Rate 7%
$597,486
Cap Rate 9%
$464,711
Alternative Uses
Best Use
Multifamily LT 5
$597.5K
$522.8K – $697.1K
NOI $41,824 @ 7.0% cap · market cap 6.15%
Second Best
Apartment 5plus
$554.7K
$485.4K – $647.2K
NOI $38,831 @ 7.0% cap · market cap 5.71%
Theoretical Best
Office A
$716.2K
$626.7K – $835.6K
NOI $50,136 @ 7.0% cap · market cap 7.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
15
Businesses Nearby
Explore this area
Business Placement
Demographics for 34982, FL
27,067
Population
12,356
Households
2.2
Avg Household Size
43
Median Age
15%
College-Educated
84%
High-School Grad
15.5 sq mi
ZIP Area
1,746
Density / Sq Mi
$54,025
Median Household Income
$33,661
Median Earnings
$1,254
Median Rent
$228,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Remodeled kitchens and bathrooms support a two-unit residential income property near the Indian River.
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 $680,000.
What are key features of this property?
This property features: Two‑unit duplex with a combined 6 bedrooms and 4 bathrooms; 2,848 square feet on a 0.35‑acre lot; Kitchens and bathrooms remodeled in both units
