| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 19th | Poor |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2625 Heathcote Dr, Fort Pierce, FL, 34982, US |
| Region / Metro | Fort Pierce |
| Year of Construction | 1999 |
| Units | 40 |
| Transaction Date | 2000-07-07 |
| Transaction Price | $675,000 |
| Buyer | GREEN OAKS PLACE FT PIERCE INC |
| Seller | NADALIN ANGELO |
2625 Heathcote Dr, Fort Pierce Multifamily Investment
Neighborhood occupancy has trended higher over the past five years, supporting renter demand and potential income stability at this 40-unit asset, according to WDSuite’s CRE market data. Position in an inner-suburb location offers everyday conveniences that typically aid retention.
The property sits in an Inner Suburb of Fort Pierce rated A- and is competitive among Port St. Lucie neighborhoods (27th of 104), per WDSuite. Residents benefit from strong daily-needs access: the neighborhood places in the upper national percentiles for amenities such as pharmacies, groceries, restaurants, and parks, supporting day-to-day convenience that can help leasing and renewals.
Renter concentration in the neighborhood is elevated (share of housing units that are renter-occupied ranks in a high national percentile), which typically indicates a deeper tenant base for multifamily. Neighborhood occupancy has increased over five years, a constructive directional signal for income stability relative to many local peers. Median contract rents in the neighborhood have risen meaningfully over the last cycle, though current levels are not the highest in the metro; disciplined lease management remains important as pricing normalizes.
Within a 3-mile radius, population and households have grown in recent years and are projected to expand further through 2028, with households rising faster than population. This points to smaller average household sizes and a larger pool of renters entering the market, which can support occupancy and absorption for well-managed assets. Income measures in the 3-mile area have also trended upward, which can underpin rent collections while still requiring attention to affordability at renewal.
Home ownership costs in the neighborhood are relatively high versus local incomes (value-to-income ratio ranks at the top nationally), a pattern that tends to reinforce reliance on rental housing and can bolster tenant retention for approachable unit types. At the same time, the neighborhood’s average school ratings trail national norms, which may modestly limit family-driven demand relative to higher-rated school zones; the area’s convenience retail and service mix partially offsets this for workforce-oriented renters.
Safety indicators are mixed but trending in a constructive direction. The neighborhood’s overall crime positioning sits around the middle of national comparisons (national percentile near the midpoint), and within the Port St. Lucie metro it ranks 29th of 104 neighborhoods, indicating room for improvement relative to the region. However, recent trend data show notable declines in violent incidents year over year, placing the neighborhood in a strong improvement cohort nationally, with property offenses also easing.
For underwriting, this suggests current conditions warrant prudent security and operations planning, while recent momentum may support longer-term stabilization if trends continue. Always evaluate block-level dynamics during due diligence, as conditions can vary within small geographies.
Regional employment access is anchored by distribution and energy sector employers, supporting workforce housing demand and commute convenience for residents referenced below.
- CVS Distribution Center — distribution/logistics (20.0 miles)
- NextEra Energy — energy & utilities corporate offices (41.9 miles) — HQ
Built in 1999, this 40-unit asset offers relatively newer vintage versus much of the surrounding housing stock, providing competitive positioning against older properties while leaving room for targeted updates as systems age. The neighborhood shows rising occupancy and a high renter concentration, indicating a broad tenant base and supportive fundamentals for stabilized operations. According to commercial real estate analysis from WDSuite, local amenities score well nationally, reinforcing day-to-day livability that can aid retention.
Demand drivers are further supported by 3-mile projections showing continued population and household growth, with smaller household sizes pointing to more renters entering the market. While ownership costs appear elevated relative to incomes—often reinforcing rental reliance—operators should remain mindful of price sensitivity and school quality when tailoring unit finishes and marketing to workforce segments.
- 1999 vintage positions the asset competitively versus older stock, with selective modernization potential
- Neighborhood renter-occupied share is high, supporting depth of tenant demand and occupancy stability
- Strong access to daily amenities can bolster leasing and renewals
- 3-mile household and population growth expand the renter pool, aiding absorption
- Risks: below-average school ratings and mixed-but-improving safety require thoughtful positioning and tenant screening