Residential Income
For Sale
$329,999
506 HOLLY Avenue A/B, Fort Pierce, FL 34982
Built in 1970, the property has wall/window units and wall furnace heating.
Property Size2,052 SF
Price / SF$203.70
Days on Market16
Property Features for 506 HOLLY Avenue A/B
General Information
Standard status
Active
Size
2,052 SF
Total Parking Spaces
2
Property subtype
Residential Income
Zoning
Medium Den
Taxes and HOA fees
Annual Taxes
$3,833
Amenities
Ceiling Fan(s), Wall/Window Unit(s)
Wall Furnace
Lighting
Building Details
Building Size
2,052 SF
Year Built
1970
Stories
1
Listing Agency:
THE SHERIDAN NETWORK.COM, INC.
Listed By:
Cliff Glansen · License #278017259
(954) 965-3990
Source:
Evrealestate
Added: Sep 12
Changed: Sep 26
Last Checked: Sep 26 at 2:50PM
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 THE SHERIDAN NETWORK.COM, INC.
Investment Insights
Based on property information with market context.
Located at 506 Holly Avenue A/B in Fort Pierce, this residential income property was built in 1970. Interior features include ceiling fans, wall/window units, and a wall furnace. Exterior lighting is also present.
Key Highlights
- Built in 1970
- Address: 506 Holly Avenue A/B, Fort Pierce, FL 34982
- Interior features include ceiling fans, wall/window units, and a wall furnace
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
$22,088
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
6.69%
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%
$441,760
$441.8K
Cap Rate 7%
$315,543
$315.5K
Cap Rate 9%
$245,422
$245.4K
Market Conditions
NOI Build-Up for 1,620 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
$42.2K $26.04/SF
− Vacancy
−$2.0K −$1.25/SF
EGI
$40.2K $24.79/SF
− OpEx
−$18.1K −$11.16/SF
NOI
$22.1K $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 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%
$441,760
Cap Rate 7%
$315,543
Cap Rate 9%
$245,422
Alternative Uses
Best Use
Apartment 5plus
$315.5K
$276.1K – $368.1K
NOI $22,088 @ 7.0% cap · market cap 6.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$407.4K
$356.5K – $475.3K
NOI $28,518 @ 7.0% cap · market cap 8.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
522
Businesses Nearby
Explore this area
Business Placement
Demographics for 34982, FL
27,067
Population
12,356
Households
2.2
Avg Household Size
43
Median Age
15%
College-Educated
84%
High-School Grad
15.5 sq mi
ZIP Area
1,746
Density / Sq Mi
$54,025
Median Household Income
$33,661
Median Earnings
$1,254
Median Rent
$228,300
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Built in 1970, the property has wall/window units and wall furnace heating.
Where is this residential income property located?
The property is located at 506 HOLLY Avenue A/B Fort Pierce, FL.
What is the asking price?
The asking price for this property is $329,999.
What are key features of this property?
This property features: Built in 1970; Address: 506 Holly Avenue A/B, Fort Pierce, FL 34982; Interior features include ceiling fans, wall/window units, and a wall furnace
