Duplexes on Corner
For Sale
$825,000
2206 Delaware Avenue, Fort Pierce, FL 34950
MULTI_FAMILY - Fort Pierce, FL
Property Size3,042 SF
Lot Size0.52 Acres
Price / SF$271.20
Days on Market143
Property Features for 2206 Delaware Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
Res
Bedrooms
4
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 2
Pets allowed
No, Yes
Exterior features
Storage
Subdivision
West end
Standard status
Active
APN
240970700260009
Size
3,042 SF
Lot size
0.52 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
WEST END ADDN BLK A LOTS 26, 27 AND 28-LESS S 5 FT
Tax Annual Amount
10011
Legal Description
WEST END ADDN BLK A LOTS 26, 27 AND 28-LESS S 5 FT
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Ductless, Wall/Window Unit(s), Window Unit(s), Heat Pump
Water source
Public
Amenities
washer and dryer
Building Details
Year built
1970
Floors in Building
2
Number of units
2
Flooring type
Laminate, Tile, Wood
Building materials
Block, CBS, Frame, Wood Frame
Roof type
Shingle
Additional Structures
Outbuilding, Storage
Listing Agency:
Highlight Realty Corp/LW
(561) 641-6787
Listed By:
Gustavo Adolfo Cepeda Jr · License #3322766
(202) 604-2746
Added: Mar 18
Changed: Aug 1
Last Checked: Aug 7 at 4:06AM
MLS# B26003915
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-style multi-unit property totals five units: three single-family homes and one duplex, situated on a corner lot totaling 0.52 acres. The units are described as rented month-to-month. Washer and dryer are included. Exterior amenities include storage.
The property is located at 2206 Delaware Avenue in Fort Pierce, Florida (34950). It is built with a mix of block/CBS and frame/wood-frame construction, with laminate, tile, and wood flooring. Heating is provided by heat pump systems, and cooling includes ductless and wall/window units. The roof is shingle.
Utilities include public water and public sewer. The property is zoned Res and was built in 1970.
The property is located at 2206 Delaware Avenue in Fort Pierce, Florida (34950). It is built with a mix of block/CBS and frame/wood-frame construction, with laminate, tile, and wood flooring. Heating is provided by heat pump systems, and cooling includes ductless and wall/window units. The roof is shingle.
Utilities include public water and public sewer. The property is zoned Res and was built in 1970.
Key Highlights
- Total of five units: three single‑family homes and one duplex
- 0.52‑acre corner lot
- Rented month‑to‑month with washer and dryer included
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
$44,673
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
5.41%
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%
$893,460
$893.5K
Cap Rate 7%
$638,186
$638.2K
Cap Rate 9%
$496,367
$496.4K
Market Conditions
NOI Build-Up for 3,042 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
$67.5K $22.20/SF
− Vacancy
−$3.7K −$1.22/SF
EGI
$63.8K $20.98/SF
− OpEx
−$19.1K −$6.29/SF
NOI
$44.7K $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%
$893,460
Cap Rate 7%
$638,186
Cap Rate 9%
$496,367
Alternative Uses
Best Use
Multifamily LT 5
$638.2K
$558.4K – $744.6K
NOI $44,673 @ 7.0% cap · market cap 5.41%
Second Best
Apartment 5plus
$592.5K
$518.5K – $691.3K
NOI $41,476 @ 7.0% cap · market cap 5.03%
Theoretical Best
Office A
$765.0K
$669.4K – $892.5K
NOI $53,551 @ 7.0% cap · market cap 6.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,369
Businesses Nearby
Explore this area
Business Placement
Demographics for 34950, FL
16,582
Population
8,055
Households
2.1
Avg Household Size
37
Median Age
14%
College-Educated
64%
High-School Grad
5.2 sq mi
ZIP Area
3,189
Density / Sq Mi
$32,707
Median Household Income
$29,214
Median Earnings
$1,121
Median Rent
$175,900
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 - Duplex with a total of five rented units on a 0.52-acre corner lot with public water and sewer.
Where is this duplex located?
The property is located at 2206 Delaware Avenue Fort Pierce, FL.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Total of five units: three single‑family homes and one duplex; 0.52‑acre corner lot; Rented month‑to‑month with washer and dryer included
