| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Poor |
| Demographics | 22nd | Poor |
| Amenities | 69th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2801 Avenue B, Fort Pierce, FL, 34947, US |
| Region / Metro | Fort Pierce |
| Year of Construction | 1989 |
| Units | 23 |
| Transaction Date | 2010-10-13 |
| Transaction Price | $200,100 |
| Buyer | B14 LLC |
| Seller | LAND HOLDING LLC |
2801 Avenue B, Fort Pierce 23-Unit Multifamily
Renter-occupied housing is prevalent in the immediate neighborhood, supporting a stable tenant base even as occupancy trends sit below the metro median, according to WDSuite’s commercial real estate analysis. Recent improvements in neighborhood safety and access to everyday amenities position this asset for consistent workforce demand.
Located in Fort Pierce’s inner-suburb fabric, the property benefits from a high share of renter-occupied housing (neighborhood tenure) that signals depth in the local tenant pool. Neighborhood occupancy trends are below the Port St. Lucie metro median (rank 71 of 104), but have improved over the past five years, suggesting steadier performance ahead rather than near-term volatility, based on CRE market data from WDSuite.
Amenity access stands out: grocery, restaurants, cafes, and parks register in the top quartile nationally, and are competitive among Port St. Lucie neighborhoods (e.g., cafe density ranks 9th of 104 and grocery density 6th of 104). This daily-needs coverage helps leasing and renewal activity by reducing commute time to essentials. The main service gap is pharmacies, which are sparse locally (rank 104 of 104), a factor to consider for resident convenience.
Within a 3-mile radius, population and households have grown in recent years and are projected to expand further through 2028, indicating a larger tenant base over time. Forecasts show notable increases in households alongside a smaller average household size, which typically supports multifamily absorption and occupancy stability.
Ownership costs in the immediate neighborhood are relatively low compared with many U.S. areas, which can introduce some competition from for-sale options. At the same time, neighborhood rent-to-income indicators point to affordability pressure for renters, which means asset performance will lean on effective lease management and product-market fit rather than outsized rent pushes. Average school ratings in the area track below national norms, which can influence unit mix positioning toward workforce and value-oriented renters.
Safety signals are mixed in this Fort Pierce neighborhood. Metro-relative rankings indicate elevated crime compared with many Port St. Lucie peers (rank 23 of 104 implies higher reported activity), while national positioning is closer to the middle of the pack. Importantly, both violent and property offenses have declined sharply year over year, placing the neighborhood in a high national percentile for improvement, according to WDSuite’s CRE market data.
For investors, the takeaway is trend direction: improving safety metrics can support retention and reduce turn costs over time, though underwriting should still reflect neighborhood-level variability rather than citywide averages.
Regional employers provide a broad base of stable jobs that support renter demand across northern Palm Beach and the Port St. Lucie–Fort Pierce corridor, notably logistics and energy. The list below highlights nearby anchors relevant to workforce housing dynamics.
- CVS Distribution Center — logistics/distribution (17.4 miles)
- NextEra Energy — energy/utilities (44.4 miles) — HQ
Built in 1989, the property is newer than the neighborhood average, offering relative competitiveness versus older stock while still warranting targeted system updates or common-area refreshes for positioning. The immediate neighborhood shows a high concentration of renter-occupied units, supporting a deeper tenant base, and amenity access for daily needs is strong. Occupancy sits below the metro median but has improved in recent years, pointing to gradually firmer fundamentals; according to CRE market data from WDSuite, safety trends have also moved in a favorable direction.
Within a 3-mile radius, population and household growth—paired with forecasts for additional gains through 2028—suggest a larger renter pool over time. Balance this with local affordability pressure and below-average school ratings, which favor a workforce-oriented value proposition and disciplined renewal strategy rather than aggressive rent escalations.
- 1989 vintage offers relative competitiveness with potential value-add via targeted updates
- High renter-occupied share supports depth of demand and leasing velocity
- Strong daily-needs coverage (grocery, restaurants, parks, cafes) aids retention
- Improving safety trajectory and household growth support occupancy stability
- Risks: affordability pressure, weak school ratings, and metro-relative crime perception require conservative underwriting