| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Poor |
| Demographics | 22nd | Poor |
| Amenities | 69th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2901 Avenue D, Fort Pierce, FL, 34947, US |
| Region / Metro | Fort Pierce |
| Year of Construction | 1985 |
| Units | 36 |
| Transaction Date | 2008-06-01 |
| Transaction Price | $925,000 |
| Buyer | SAINT LUCIE BUILDING LLC |
| Seller | EQUITYMAX INC |
2901 Avenue D, Fort Pierce FL Multifamily Investment
Renter demand is deep in the surrounding neighborhood, with a high share of renter-occupied units supporting leasing velocity, according to WDSuite’s CRE market data. Vintage 1985 positioning offers competitive footing versus older stock while leaving room for targeted modernization.
The property sits in an Inner Suburb of Fort Pierce within the Port St. Lucie metro, where neighborhood fundamentals are mixed but investable. Neighborhood occupancy is in the mid‑80s and has improved over the past five years, while the renter concentration is high (share of housing units that are renter‑occupied), indicating a broad tenant base and potential demand stability at the submarket level. These metrics reflect the neighborhood, not this specific property.
Livability is anchored by everyday conveniences: neighborhood counts of grocery stores, restaurants, parks, and cafes rank competitive nationally, which helps with retention and day‑to‑day appeal for residents. Pharmacy access is thin locally, which is a minor convenience trade‑off investors should note.
Education quality trends lower in this neighborhood versus national benchmarks (average school ratings are below national medians), which can influence unit mix performance for family‑oriented renters but is less impactful for smaller households seeking value and access to services.
Within a 3‑mile radius, demographics point to a growing renter pool. Population and households have expanded in recent years, and WDSuite data indicates further gains ahead, with households projected to increase alongside a smaller average household size. For multifamily investors, that combination supports a larger tenant base and sustained absorption for efficiently sized units.
Construction vintage in the neighborhood skews early‑1980s on average. With a 1985 build, the asset is somewhat newer than the neighborhood mean, which can improve competitive positioning versus older stock; however, aging systems and common areas may still benefit from selective upgrades to support rent trade‑outs and leasing velocity.
Safety signals are mixed when viewed at the neighborhood scale. Compared with neighborhoods nationwide, overall crime levels are around mid‑pack, and recent trends show notable year‑over‑year declines in both violent and property offenses. Within the Port St. Lucie metro, this area experiences comparatively higher incident rates than some suburban peers, so investors should underwrite to prudent security measures and tenant‑experience best practices. All figures reference the neighborhood, not the property.
Regional employment is supported by logistics and retail distribution within commuting range, which can feed steady renter demand for workforce housing. Nearby, the CVS distribution facility anchors this employment base.
- CVS Distribution Center — logistics & distribution (17.1 miles)
This 36‑unit 1985 community offers an attainable entry point into Fort Pierce’s renter‑heavy neighborhood fabric. High renter‑occupied share at the neighborhood level indicates depth of tenant demand, while improving occupancy trends suggest stabilization potential with attentive operations. According to CRE market data from WDSuite, the asset’s vintage is somewhat newer than the neighborhood average, which can support competitive positioning versus older comparables while leaving room for targeted value‑add to interiors and common areas.
Within a 3‑mile radius, population and household growth—along with projections for additional household gains and smaller average household size—point to renter pool expansion that supports occupancy stability. Amenity coverage for groceries, dining, parks, and cafes is strong locally, enhancing retention. Key underwriting considerations include neighborhood affordability pressure (elevated rent‑to‑income ratios at the neighborhood level), below‑average school ratings, and safety variations within the metro that warrant practical on‑site measures.
- High neighborhood renter concentration supports a broad tenant base and leasing depth.
- 1985 vintage is slightly newer than local averages, offering competitive footing plus value‑add upside via targeted upgrades.
- Strong local amenities (grocery, dining, parks, cafes) bolster renter retention and day‑to‑day livability.
- 3‑mile demographics show recent and projected household growth and smaller household sizes, reinforcing multifamily demand.
- Risks: neighborhood affordability pressure, lower school ratings, and mixed safety signals within the metro call for disciplined operations and resident‑experience investments.