Fort Pierce Multi-Unit Investment
For Sale
$825,000
2206 Delaware Ave, Fort Pierce, FL 34950
Five units on a corner lot with redevelopment potential.
Property Size3,042 SF
Lot Size0.52 Acres
Days on Market208
Property Features for 2206 Delaware Ave
General Information
Standard status
Active
Size
3,042 SF
Lot size
0.52 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$10,011
Building Details
Building Size
3,042 SF
Year Built
1970
Stories
2
Units
2
Listing Agency:
HIGHLIGHT REALTY
Listed By:
Gustavo Adolfo Cepeda Jr · License #3322766
(202) 604-2746
Source:
Elliman
Added: Mar 23
Changed: Sep 30
Last Checked: Oct 15 at 2:22AM
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 HIGHLIGHT REALTY
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Investment Insights
Based on property information with market context.
This property presents an investment opportunity in Fort Pierce, featuring five units comprising three single-family homes and one duplex. Situated on a corner half-acre lot, the property offers long-term potential and flexible use options. The units are currently rented on a month-to-month basis, providing immediate income with the possibility to adjust or reposition as needed. Each unit includes a washer and dryer. The property benefits from a location on Delaware Avenue, offering visibility and access to major roads, services, and ongoing redevelopment.
Key Highlights
- Rare multi‑unit asset with immediate rental income.
- Multi‑unit property (3 single family homes and 1 duplex).
- Large corner half‑acre lot offering long‑term potential and flexible use options.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,673
Cap Rate
5.41%
Suggested Prices Based on Cap Rates
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
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 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.
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Current Use
Location Intelligence
Trade Area within ½ mile
690
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Five units on a corner lot with redevelopment potential.
Where is this multifamily property located?
The property is located at 2206 Delaware Ave 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: Rare multi‑unit asset with immediate rental income.; Multi‑unit property (3 single family homes and 1 duplex).; Large corner half‑acre lot offering long‑term potential and flexible use options.
