| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Fair |
| Demographics | 27th | Poor |
| Amenities | 65th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 907 S 27th St, Fort Pierce, FL, 34947, US |
| Region / Metro | Fort Pierce |
| Year of Construction | 2008 |
| Units | 80 |
| Transaction Date | 2024-11-22 |
| Transaction Price | $29,200,000 |
| Buyer | LIVE OAK PRESERVATIONS LTD |
| Seller | LIVE OAK APARTMENTS LTD |
907 S 27th St Fort Pierce 80-Unit Multifamily
Renter demand is supported by a high neighborhood share of renter-occupied housing and steady occupancy, according to WDSuite’s CRE market data. 2008 construction offers a more competitive vintage than much of the local stock.
Located in Fort Pierce’s inner-suburban fabric, the property benefits from local amenity access that is competitive among Port St. Lucie neighborhoods. Parks, pharmacies, and everyday retail are relatively accessible (parks and pharmacies rank in the top quartile nationally), while cafes are limited. Restaurants index well above national averages, and grocery access is solid rather than destination-worthy, per WDSuite’s commercial real estate analysis.
The neighborhood’s renter-occupied share is high (top decile nationally), signaling a deep tenant base and reinforcing multifamily leasing depth. Overall housing occupancy in the neighborhood sits around the metro middle, with recent stability that supports income predictability at similar assets. Median contract rents in the neighborhood track mid-market for the metro, which can aid retention if managed with attention to affordability.
2008 construction is newer than the neighborhood’s average vintage (late 1970s). That positioning can reduce near-term capital intensity versus older comparables while still leaving room for targeted modernization to enhance rentability. Home values are comparatively lower than many U.S. neighborhoods, which can introduce some competition from ownership options but also supports demand for accessible workforce rentals.
Demographics within a 3-mile radius show recent population growth and a measurable increase in households, with forecasts pointing to further household expansion and smaller average household sizes by 2028. For investors, that points to a larger, more diversified renter pool over time and support for occupancy stability if unit mix and pricing remain aligned with local incomes. Average school ratings in the immediate area are below national norms, which may influence the depth of family-oriented demand but should be weighed against strong renter concentration and amenity access.
Neighborhood safety indicators are mixed when compared with the Port St. Lucie metro. Based on metro rankings where lower ranks indicate more crime, the area trends in the higher-crime half of the region rather than the top tier. Nationally, the neighborhood sits below the midrange for safety, so investors should underwrite conservative security and operating practices.
Trend signals offer a partial offset: recent data show a sharp year-over-year improvement in violent offense rates, while property offense measures remain closer to the less favorable end of national comparisons. In practical terms, this suggests monitoring year-to-year movement and weighing site-level measures (lighting, access control, and resident engagement) during due diligence.
Regional employment is anchored by logistics and utilities, supporting a broad workforce renter base and reasonable commute patterns to distribution and energy-sector offices. Nearby employers include CVS Distribution for logistics and NextEra Energy for utilities and corporate functions.
- CVS Distribution Center — logistics & distribution (17.9 miles)
- NextEra Energy — utilities & corporate (43.8 miles) — HQ
This 80-unit, 2008-vintage asset offers a favorable position versus the neighborhood’s older housing stock, with potential for targeted updates to sharpen competitiveness while moderating near-term capital needs. Strong renter-occupied share in the neighborhood underpins demand depth, and occupancy has been steady near metro norms, which can support income durability. According to CRE market data from WDSuite, local rents and incomes track mid-market for the metro, suggesting a balance between pricing power and retention if affordability is managed.
Forward-looking demographics within a 3-mile radius point to continued population growth and a meaningful increase in households alongside gradually smaller household sizes, expanding the renter pool over the next cycle. Offsetting considerations include below-average school ratings, crime metrics that sit on the higher side relative to the metro, and a homeownership market that is more attainable than in many U.S. areas, which can create some competition with ownership. Prudent underwriting should reflect these factors while recognizing the durable workforce demand drivers and a location supported by everyday amenities.
- 2008 vintage competes well against older local stock, with selective value-add potential
- High neighborhood renter concentration supports tenant base depth and occupancy stability
- 3-mile population and household growth expand the prospective renter pool
- Amenity access (parks, pharmacies, restaurants) enhances livability for workforce renters
- Risks: below-average school ratings, comparatively higher crime within the metro, and some competition from attainable ownership