Duplex with New
221 Balboa Street Apt a, Fort Pierce, FL 34949
For Sale
$420,000
Pending
Storm shutters add an additional exterior feature to this residential duplex.
Property Size2,812 SF
Days on Market53
Property Features for 221 Balboa Street Apt a
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Listing Agency:
EXP Realty LLC
Listed By:
Jonathan Carroll · License #3302123
(772) 633-1852
Source:
Meyerlucas
Added: Sep 16
Changed: Nov 7
Last Checked: Nov 6 at 3:01PM
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 EXP Realty LLC
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Investment Insights
Based on property information with market context.
Built in 1972, this duplex includes a new roof and storm shutters. The two-unit residential configuration supports use as an investment property or a place to live, providing flexibility for the next owner.
The property is located at 221 Balboa Street in Fort Pierce, near beaches, shopping, dining, and other local amenities. Its residential format and surrounding conveniences offer a practical combination for ownership and occupancy considerations.
The property is located at 221 Balboa Street in Fort Pierce, near beaches, shopping, dining, and other local amenities. Its residential format and surrounding conveniences offer a practical combination for ownership and occupancy considerations.
Key Highlights
- Duplex configuration built in 1972
- New roof
- Storm shutters included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,340
Cap Rate
9.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$766,800
$766.8K
Cap Rate 7%
$547,714
$547.7K
Cap Rate 9%
$426,000
$426.0K
Market Conditions
NOI Build-Up for 2,812 SF
Gross rent
$73.2K $26.04/SF
− Vacancy
−$3.5K −$1.25/SF
EGI
$69.7K $24.79/SF
− OpEx
−$31.4K −$11.16/SF
NOI
$38.3K $13.63/SF
Area
St. Lucie County, FL
Vacancy
4.80%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$766,800
Cap Rate 7%
$547,714
Cap Rate 9%
$426,000
Alternative Uses
Best Use
Multifamily LT 5
$589.9K
$516.2K – $688.3K
NOI $41,295 @ 7.0% cap · market cap 9.83%
Second Best
Apartment 5plus
$547.7K
$479.3K – $639.0K
NOI $38,340 @ 7.0% cap · market cap 9.13%
Theoretical Best
Office A
$707.2K
$618.8K – $825.0K
NOI $49,502 @ 7.0% cap · market cap 11.79%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
221
Businesses Nearby
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Business Placement
Demographics for 34949, FL
8,027
Population
8,033
Households
1
Avg Household Size
65
Median Age
47%
College-Educated
96%
High-School Grad
9.4 sq mi
ZIP Area
854
Density / Sq Mi
$92,188
Median Household Income
$37,219
Median Earnings
$1,484
Median Rent
$427,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Fort Pierce, FL
Properties on Market for Duplexes in Fort Pierce
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Storm shutters add an additional exterior feature to this residential duplex.
Where is this duplex located?
The property is located at 221 Balboa Street Apt a Fort Pierce, FL.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Duplex configuration built in 1972; New roof; Storm shutters included
