Remodeled Duplex with Pool
For Sale
$680,000
11099 Ridge Avenue, Fort Pierce, FL 34982
Two remodeled residences offer three-bedroom layouts, river proximity, and individual access to a private pool.
Property Size2,848 SF
Days on Market14
Property Features for 11099 Ridge Avenue
General Information
Standard status
Active
Size
2,848 SF
Property subtype
Duplex
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,913
Amenities
private pool
Building Details
Building Size
2,848 SF
Year Built
1980
Listing Agency:
LPT Realty, LLC
(786) 326-7698
Listed By:
Sergio Luis Martinez · License #637989
(786) 326-7698
Source:
Meyerlucas
Added: Aug 14
Changed: Aug 25
Last Checked: Aug 26 at 2:45PM
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 LPT Realty, LLC
Investment Insights
Based on property information with market context.
Built in 1980, this duplex contains two three-bedroom, two-bath residences. Unit A and Unit B each feature remodeled kitchens and bathrooms, providing updated interior finishes across both sides of the property. Each residence also has access to a private pool.
The property is located at 11099 Ridge Avenue in Fort Pierce, Florida, with the Indian River within walking distance. The two-unit configuration supports an income property setup, including the option to occupy one residence while renting the other.
The property is located at 11099 Ridge Avenue in Fort Pierce, Florida, with the Indian River within walking distance. The two-unit configuration supports an income property setup, including the option to occupy one residence while renting the other.
Key Highlights
- Duplex with two 3/2 units
- Kitchens and bathrooms remodeled in both units
- Private pool access for each residence
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 - Two remodeled residences offer three-bedroom layouts, river proximity, and individual access to a private pool.
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: Duplex with two 3/2 units; Kitchens and bathrooms remodeled in both units; Private pool access for each residence
