| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Poor |
| Demographics | 39th | Fair |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 920 E Midway Rd, Fort Pierce, FL, 34982, US |
| Region / Metro | Fort Pierce |
| Year of Construction | 1987 |
| Units | 26 |
| Transaction Date | 2011-05-09 |
| Transaction Price | $760,000 |
| Buyer | SILVER ORANGE LLC |
| Seller | PBE COMPANIES LLC |
920 E Midway Rd, Fort Pierce Multifamily Opportunity
Neighborhood renter demand has held relatively steady with improving occupancy trends, according to WDSuite’s CRE market data, supporting a durable income profile for a 26-unit asset in this suburban Fort Pierce location.
Located in suburban Fort Pierce within the Port St. Lucie metro, the area scores competitively on everyday convenience: restaurants, parks, and pharmacies sit above national midpoints, while grocery access tracks near the national middle. Café density is limited, but essential retail and services are present. On a metro basis, overall amenities rank competitive among Port St. Lucie neighborhoods (21st out of 104), placing the location in the stronger cohort locally.
The property’s 1987 vintage is slightly older than the neighborhood’s average construction year of 1993. For investors, that skew typically points to planned capital improvements and potential value-add repositioning to stay competitive against newer stock, while still benefiting from stabilized renter demand in the submarket.
Within a 3-mile radius, demographics indicate a broadening tenant base: households have grown in recent years and are projected to expand further, with population growth and an expected increase in household counts by 2028. This trend supports occupancy stability and leasing velocity for workforce-oriented units. Renter-occupied housing represents roughly the lower third of tenure in the 3-mile radius, suggesting a primarily owner-occupied landscape that can still offer depth for multifamily while tempering excessive new-renter churn.
Home values sit in a high-cost ownership context relative to local incomes (value-to-income ratios track in upper national percentiles), which tends to reinforce renter reliance on multifamily housing and bolster pricing power during renewals. At the same time, rent-to-income levels indicate some affordability pressure, so disciplined lease management and amenity value delivery remain important for retention.
Neighborhood occupancy has improved over the last five years, per WDSuite’s commercial real estate analysis, and median asking rents are above national midpoints. Compared with metro peers, the neighborhood rates above the metro median on amenities and parks, and it is competitive among Port St. Lucie subareas for everyday services—factors that can help sustain tenant retention despite limited café options and modest educational ratings nearby.
Safety indicators are mixed in this part of Fort Pierce. Compared with other Port St. Lucie neighborhoods (104 total), the area’s crime rank places it on the higher-crime side locally, even as national positioning trends closer to the middle of the pack. Year over year, both violent and property offenses have declined, with violent incidents showing a notably sharper reduction according to WDSuite’s CRE market data.
For investors, the takeaway is to underwrite with conservative assumptions while recognizing the recent downward trend in reported incidents. Proximity to everyday amenities and continued neighborhood investment can support tenant retention and on-site safety practices over time.
Regional employers within commuting range help support a stable renter base, with logistics, energy, and foodservice distribution nodes offering diversified employment that can aid leasing and retention.
- CVS Distribution Center — distribution & logistics (22.7 miles)
- NextEra Energy — energy & corporate services (39.0 miles) — HQ
- Sysco Southeast Florida — foodservice distribution (44.3 miles)
This 26-unit property offers exposure to a suburban Fort Pierce location with improving neighborhood occupancy and a tenant base supported by steady household growth within a 3-mile radius. Based on CRE market data from WDSuite, local amenities are competitive within the Port St. Lucie metro, helping support retention even as café density is limited. The 1987 vintage is slightly older than the neighborhood average and points to straightforward value-add or systems upgrades that can enhance positioning versus newer product.
Home values relative to incomes suggest a high-cost ownership market, which can sustain reliance on rentals. At the same time, rent-to-income levels signal affordability pressure, warranting careful lease management and amenity-led retention strategies. Recent declines in violent and property offenses are constructive, but underwriting should remain prudent given the neighborhood’s higher-crime rank within the metro.
- Suburban Fort Pierce location with amenities competitive among Port St. Lucie neighborhoods, supporting retention
- Improving neighborhood occupancy and expanding 3-mile household base bolster leasing fundamentals
- 1987 vintage offers clear value-add and capital planning pathways to strengthen competitive positioning
- Ownership costs relative to incomes reinforce reliance on rentals, aiding pricing power during renewals
- Risks: higher-crime rank within metro and tenant affordability pressure call for disciplined operations and underwriting