Brand New CBS
For Sale
Contact for pricing
Pending
311 N 16th Street, Fort Pierce, FL 34950
New 2026 CBS duplex with two 3BR/2BA units, modern kitchens, and private rear porches.
Property Size2,280 SF
Days on Market129
Property Features for 311 N 16th Street
General Information
Standard status
Pending
Size
2,280 SF
Property subtype
Multifamily
Zoning
Medium Den
Net Operating Income
$46,700
Additional Details
Multifamily Units
2
Amenities
private rear porch
Building Details
Year Built
2026
Units
2
Construction
CBS
Listing Agency:
Meant2b Realty LLC
Listed By:
Nicholas Tobis · License #3259725
Source:
Crexi
Added: May 4
Changed: Aug 8
Last Checked: Jul 24 at 3:25PM
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 Meant2b Realty LLC
Investment Insights
Based on property information with market context.
Brand new 2026 concrete block (CBS) duplex designed for straightforward, low-maintenance ownership. Each oversized 3BR/2BA unit is laid out with an open-concept interior and includes a modern kitchen with a dishwasher, energy-efficient windows, solid core doors, and a private rear porch.
The property is constructed with durable CBS walls and a metal roof, and features all-new systems throughout. Per the public remarks, the duplex is SEC 8 compatible, supporting long-term rental use.
Located at 311 N 16th Street in Fort Pierce, Florida, the offering is presented as a turnkey investment opportunity for buyers seeking a newer duplex structure compared with older inventory.
The property is constructed with durable CBS walls and a metal roof, and features all-new systems throughout. Per the public remarks, the duplex is SEC 8 compatible, supporting long-term rental use.
Located at 311 N 16th Street in Fort Pierce, Florida, the offering is presented as a turnkey investment opportunity for buyers seeking a newer duplex structure compared with older inventory.
Key Highlights
- New 2026 CBS duplex with two 3BR/2BA units
- Each unit offers 1,140 sq ft with an open‑concept layout
- Modern kitchens include a dishwasher
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
$33,482
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
6.06%
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%
$669,640
$669.6K
Cap Rate 7%
$478,314
$478.3K
Cap Rate 9%
$372,022
$372.0K
Market Conditions
NOI Build-Up for 2,280 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
$50.6K $22.20/SF
− Vacancy
−$2.8K −$1.22/SF
EGI
$47.8K $20.98/SF
− OpEx
−$14.3K −$6.29/SF
NOI
$33.5K $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%
$669,640
Cap Rate 7%
$478,314
Cap Rate 9%
$372,022
Alternative Uses
Best Use
Multifamily LT 5
$478.3K
$418.5K – $558.0K
NOI $33,482 @ 7.0% cap · market cap 6.06%
Second Best
Apartment 5plus
$444.1K
$388.6K – $518.1K
NOI $31,087 @ 7.0% cap · market cap 5.63%
Theoretical Best
Office A
$573.4K
$501.7K – $669.0K
NOI $40,137 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
728
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - New 2026 CBS duplex with two 3BR/2BA units, modern kitchens, and private rear porches.
Where is this duplex located?
The property is located at 311 N 16th Street Fort Pierce, FL.
What is the asking price?
The asking price for this property is $552,499.
What are key features of this property?
This property features: New 2026 CBS duplex with two 3BR/2BA units; Each unit offers 1,140 sq ft with an open‑concept layout; Modern kitchens include a dishwasher
