Duplex Income Property with Separate
For Sale
Contact for pricing
2856 Harson Way, Fort Pierce, FL 34946
Duplex with two units, separate electric and water meters, and impact glass, offering flexibility for investors or owner-occupants.
Property Size3,616 SF
Lot Size0.24 Acres
Price / SF$204.65
Days on Market135
Property Features for 2856 Harson Way
General Information
Standard status
Active
Size
3,616 SF
Lot size
0.24 Acres
Property subtype
Multifamily
Zoning
Industrial
Occupancy
50%
Net Operating Income
$38,000
Additional Details
Business Included
Yes
Multifamily Units
2
Building Details
Year Built
1975
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
RE/MAX Masterpiece Realty
Listed By:
Rhea Dunn · License #3581325
Source:
Crexi
Added: Mar 28
Changed: Aug 8
Last Checked: Aug 8 at 8:58AM
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 RE/MAX Masterpiece Realty
Investment Insights
Based on property information with market context.
This income-producing duplex features two separate residential units, each laid out with four bedrooms plus a den/office and two full bathrooms. One unit is currently rented, while the second unit is ready for a new tenant or for owner-occupancy. Exterior and building features include impact glass windows and a metal roof. The property also has separate electric and water meters, with tenants responsible for their own utilities.
The duplex is situated on a 10,454 square-foot lot with no HOA. It is located in Fort Pierce near US-1 and Seaway Dr., with shopping and schools nearby. The property is zoned Industrial, which may provide additional flexibility compared with typical residential zoning.
For prospective tenants, buyers, or operators, the separate utility metering can help simplify expense allocation between units. With one unit generating rental income and the other available, the property may also support strategies that balance current cash flow with the ability to reposition the second unit for the next occupancy cycle. The Industrial zoning is a practical consideration for those evaluating how the site will be used over time.
The duplex is situated on a 10,454 square-foot lot with no HOA. It is located in Fort Pierce near US-1 and Seaway Dr., with shopping and schools nearby. The property is zoned Industrial, which may provide additional flexibility compared with typical residential zoning.
For prospective tenants, buyers, or operators, the separate utility metering can help simplify expense allocation between units. With one unit generating rental income and the other available, the property may also support strategies that balance current cash flow with the ability to reposition the second unit for the next occupancy cycle. The Industrial zoning is a practical consideration for those evaluating how the site will be used over time.
Key Highlights
- Duplex built in 1975 with 2 units in Fort Pierce, zoned Industrial
- One unit currently rented for immediate income; second unit is ready for a new tenant or owner‑occupant
- Approx. 1,740 sq ft per unit with 4 bedrooms plus den/office and 2 full bathrooms (possible 5th bedroom)
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
$53,102
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
7.18%
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%
$1,062,040
$1.1M
Cap Rate 7%
$758,600
$758.6K
Cap Rate 9%
$590,022
$590.0K
Market Conditions
NOI Build-Up for 3,616 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
$80.3K $22.20/SF
− Vacancy
−$4.4K −$1.22/SF
EGI
$75.9K $20.98/SF
− OpEx
−$22.8K −$6.29/SF
NOI
$53.1K $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%
$1,062,040
Cap Rate 7%
$758,600
Cap Rate 9%
$590,022
Alternative Uses
Best Use
Multifamily LT 5
$758.6K
$663.8K – $885.0K
NOI $53,102 @ 7.0% cap · market cap 7.18%
Second Best
Apartment 5plus
$704.3K
$616.3K – $821.7K
NOI $49,303 @ 7.0% cap · market cap 6.66%
Theoretical Best
Office A
$909.4K
$795.7K – $1.06M
NOI $63,656 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
50%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
166
Businesses Nearby
Explore this area
Business Placement
Demographics for 34946, FL
6,793
Population
3,435
Households
2
Avg Household Size
42
Median Age
14%
College-Educated
72%
High-School Grad
15.2 sq mi
ZIP Area
447
Density / Sq Mi
$40,488
Median Household Income
$27,591
Median Earnings
$1,000
Median Rent
$128,100
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 - Duplex with two units, separate electric and water meters, and impact glass, offering flexibility for investors or owner-occupants.
Where is this duplex located?
The property is located at 2856 Harson Way Fort Pierce, FL.
What is the asking price?
The asking price for this property is $740,000.
What are key features of this property?
This property features: Duplex built in 1975 with 2 units in Fort Pierce, zoned Industrial; One unit currently rented for immediate income; second unit is ready for a new tenant or owner‑occupant; Approx. 1,740 sq ft per unit with 4 bedrooms plus den/office and 2 full bathrooms (possible 5th bedroom)
