Building Details

Year Built 1972

Construction CBS

Listing Agency: Approved Realty Solutions, Inc c***@carlcarey.com Show Phone

Listed By: Patrick Jones Show Phone

Source: Lehmannflorida

Added: Aug 15 Changed: Oct 15 Last Checked: Oct 16 at 9:18AM

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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 Approved Realty Solutions, Inc

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Investment Insights

Based on property information with market context.

This CBS duplex contains two residential units with approximately 1,550 square feet under air. Both units have updated kitchens, while Unit A includes a partial bathroom renovation. Unit B has refreshed bathroom fixtures, new appliances including a refrigerator, and interior paint. Original tile flooring has been professionally re-grouted, and interior fixtures have been updated throughout the property.

Major system improvements include a newer roof installed in 2024, central A/C systems replaced approximately 2 years ago, and a new tankless water heater. Built in 1972, the property is located at 2105 Delaware Avenue in Fort Pierce, Florida.

Key Highlights

• Two‑unit CBS duplex with approximately 1,550 total sq. ft. under AC
• Newer roof installed in 2024
• Central A/C systems replaced approximately 2 years ago

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$22,762

Cap Rate

7.59%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$455,240 $455.2K

Cap Rate 7%

$325,171 $325.2K

Cap Rate 9%

$252,911 $252.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,550 SF

Gross rent

$34.4K $22.20/SF

− Vacancy

−$1.9K −$1.22/SF

EGI

$32.5K $20.98/SF

− OpEx

−$9.8K −$6.29/SF

NOI

$22.8K $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 Rate 5%

$455,240

Cap Rate 7%

$325,171

Cap Rate 9%

$252,911

Alternative Uses

Best Use

Multifamily LT 5

$325.2K

$284.5K – $379.4K (±1% cap)

NOI $22,762 @ 7.0% cap · market cap 7.59%

Second Best

Apartment 5plus

$301.9K

$264.2K – $352.2K (±1% cap)

NOI $21,134 @ 7.0% cap · market cap 7.05%

Theoretical Best

Office A

$389.8K

$341.1K – $454.8K (±1% cap)

NOI $27,286 @ 7.0% cap · market cap 9.10%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency (Bike/Boat/Book/etc) Store Electrical Service HVAC Service Plumbing Service Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

717

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

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two-unit residential property with refreshed kitchens, updated systems, and separate layouts totaling a practical residential configuration.

Where is this duplex located?

The property is located at 2105 Delaware Avenue Fort Pierce, FL.

What is the asking price?

The asking price for this property is $299,900.

What are key features of this property?

This property features: Two‑unit CBS duplex with approximately 1,550 total sq. ft. under AC; Newer roof installed in 2024; Central A/C systems replaced approximately 2 years ago