Updated Duplex With Enclosed
For Sale
$329,999
Ab-506 Holly Avenue, Fort Pierce, FL 34982
Two residential units feature separate utility meters, refreshed interiors, and access to a shared backyard.
Property Size1,620 SF
Price / SF$203.70
Days on Market12
Property Features for Ab-506 Holly Avenue
General Information
Standard status
Active
Size
1,620 SF
Property subtype
Residential Income
Property Condition
Severity
Repairs Needed
Evidence
Things still doing are 1. painting the outside. 2. Putting shutters on each side of the big windows. frame with wood the ac units. 3.New blinds will be in all windows. 4. landscaping the front middle part against the building.
Additional Details
Furnished
No
Utilities to Site
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,833
Amenities
large back yard
enclosed back patio
Building Details
Buildings
1
Listing Agency:
FlatFee.com
Listed By:
Cliff Glansen · License #278017259
(954) 965-3990
Source:
Exprealty
Added: Sep 12
Changed: Sep 21
Last Checked: Sep 23 at 12:18AM
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 FlatFee.com
Investment Insights
Based on property information with market context.
This 1,620-square-foot duplex contains two residential units with separate utility meters and an enclosed back patio. The property has a metal roof, tiled bathrooms, new toilets, vanities, mirrors, and blinds. Unit B includes Lifeproof wood flooring in the kitchen and bathroom, while Unit A has tile throughout most of the unit, with carpeting or other flooring in the bedrooms and bath as described. Each unit also includes a kitchen and bathroom, with additional exterior work and landscaping planned or underway.
The property is located at Ab-506 Holly Avenue in Fort Pierce, Florida 34982. Shopping, beaches, and schools are identified as nearby, and the large backyard is maintained by the tenants. The duplex is currently vacant, allowing the remaining improvements to be completed before occupancy.
The property is located at Ab-506 Holly Avenue in Fort Pierce, Florida 34982. Shopping, beaches, and schools are identified as nearby, and the large backyard is maintained by the tenants. The duplex is currently vacant, allowing the remaining improvements to be completed before occupancy.
Key Highlights
- 1,620‑square‑foot duplex with two residential units
- Separate utility meters for each unit
- Metal roof and enclosed back patio
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
$23,790
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
7.21%
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%
$475,800
$475.8K
Cap Rate 7%
$339,857
$339.9K
Cap Rate 9%
$264,333
$264.3K
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
$36.0K $22.20/SF
− Vacancy
−$2.0K −$1.22/SF
EGI
$34.0K $20.98/SF
− OpEx
−$10.2K −$6.29/SF
NOI
$23.8K $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%
$475,800
Cap Rate 7%
$339,857
Cap Rate 9%
$264,333
Alternative Uses
Best Use
Multifamily LT 5
$339.9K
$297.4K – $396.5K
NOI $23,790 @ 7.0% cap · market cap 7.21%
Second Best
Apartment 5plus
$315.5K
$276.1K – $368.1K
NOI $22,088 @ 7.0% cap · market cap 6.69%
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
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
503
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature separate utility meters, refreshed interiors, and access to a shared backyard.
Where is this duplex located?
The property is located at Ab-506 Holly Avenue 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: 1,620‑square‑foot duplex with two residential units; Separate utility meters for each unit; Metal roof and enclosed back patio
