27-Unit Multifamily
For Sale
$4,500,000
6602 MIRAMAR Avenue, Fort Pierce, FL 34951
The rental package combines duplexes, triplexes, and a single-family home with central air conditioning.
Property Size24,698 SF
Price / SF$182.20
Days on Market9
Property Features for 6602 MIRAMAR Avenue
General Information
Standard status
Active
Size
24,698 SF
Property subtype
Triplex
Units
Unit Mix
1 x efficiency, 1 x 4BR/2BA, 15 x 2BR/1BA, 10 x 3BR/2BA
Multifamily Units
27
Additional Details
Gross Income
$552,480
Taxes and HOA fees
Annual Taxes
$55,196
Amenities
Central A/C
Stove
Refrigerator
Washing machine hookups
Utility rooms with washer/dryer hookups
Building Details
Building Size
24,698 SF
Year Built
1974
Buildings
12
Listing Agency:
Coldwell Banker Paradise
Listed By:
Hoyt C Murphy Jr. · License #186988
(772) 971-7424
Source:
Meyerlucas
Added: Oct 12
Changed: Oct 16
Last Checked: Oct 19 at 4:02PM
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 Coldwell Banker Paradise
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Investment Insights
Based on property information with market context.
This 27-unit rental portfolio comprises 7 duplexes, 4 triplexes, and a single-family home, with approximately 24,698 square feet of living area. The unit mix includes 1 efficiency, 15 two-bedroom/one-bath units, 10 three-bedroom/two-bath units, and 1 four-bedroom/two-bath unit. All units have central air conditioning, a stove, a refrigerator, and washing machine hookups; three-bedroom units also have utility rooms with washer and dryer hookups.
Twenty-four units are situated in two areas identified as Lakewood Park and St. Lucie Boulevard. Most buildings are CBS construction; three triplexes are frame construction. All properties have city water except 5105 Eastwood.
Twenty-four units are situated in two areas identified as Lakewood Park and St. Lucie Boulevard. Most buildings are CBS construction; three triplexes are frame construction. All properties have city water except 5105 Eastwood.
Key Highlights
- 27 rental units across 7 duplexes, 4 triplexes, and 1 single‑family home
- Approximately 24,698 square feet of living area
- Unit mix: 1 efficiency, 15 two‑bedroom/one‑bath, 10 three‑bedroom/two‑bath, and 1 four‑bedroom/two‑bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$336,746
Cap Rate
7.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,734,920
$6.7M
Cap Rate 7%
$4,810,657
$4.8M
Cap Rate 9%
$3,741,622
$3.7M
Market Conditions
NOI Build-Up for 24,698 SF
Gross rent
$643.1K $26.04/SF
− Vacancy
−$30.9K −$1.25/SF
EGI
$612.3K $24.79/SF
− OpEx
−$275.5K −$11.16/SF
NOI
$336.7K $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%
$6,734,920
Cap Rate 7%
$4,810,657
Cap Rate 9%
$3,741,622
Alternative Uses
Best Use
Apartment 5plus
$4.81M
$4.21M – $5.61M
NOI $336,746 @ 7.0% cap · market cap 7.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.21M
$5.43M – $7.25M
NOI $434,784 @ 7.0% cap · market cap 9.66%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
27
Residential units
Location Intelligence
Trade Area within ½ mile
237
Businesses Nearby
Explore this area
Business Placement
Demographics for 34951, FL
15,357
Population
8,305
Households
1.8
Avg Household Size
56
Median Age
21%
College-Educated
92%
High-School Grad
24.3 sq mi
ZIP Area
632
Density / Sq Mi
$63,214
Median Household Income
$35,597
Median Earnings
$1,186
Median Rent
$229,600
Median Home Value
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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 - The rental package combines duplexes, triplexes, and a single-family home with central air conditioning.
Where is this multifamily property located?
The property is located at 6602 MIRAMAR Avenue Fort Pierce, FL.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: 27 rental units across 7 duplexes, 4 triplexes, and 1 single‑family home; Approximately 24,698 square feet of living area; Unit mix: 1 efficiency, 15 two‑bedroom/one‑bath, 10 three‑bedroom/two‑bath, and 1 four‑bedroom/two‑bath
