| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 25th | Poor |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 951 King Orange Dr, Fort Pierce, FL, 34982, US |
| Region / Metro | Fort Pierce |
| Year of Construction | 1995 |
| Units | 20 |
| Transaction Date | 2012-06-01 |
| Transaction Price | $880,000 |
| Buyer | SGHK FORGIONE HOLDINGS LLC |
| Seller | GEORGIA KING LLC |
951 King Orange Dr Fort Pierce 20-Unit Multifamily
Neighborhood occupancy is solid and renter demand is supported by Inner Suburb fundamentals, according to WDSuite’s CRE market data. For investors, the combination of steady absorption and a high-cost ownership market underpins pricing power over a full cycle.
Located in an Inner Suburb of Fort Pierce, the property benefits from neighborhood occupancy around 93% and a five‑year uptrend, based on CRE market data from WDSuite. Within the Port St. Lucie metro, the neighborhood’s occupancy rank sits in the top quartile among 104 neighborhoods, pointing to comparatively stable lease-up and retention dynamics.
Livability is anchored by everyday amenities: grocery and pharmacy access track modestly above national medians, while restaurant and cafe density is competitive for the area. Park access is limited, which may temper some lifestyle appeal, but daily-needs convenience helps support resident stickiness. Average school ratings in the neighborhood are on the lower side; investors should underwrite this into tenant mix and marketing, not as a cap on demand.
Home values sit in a high-cost ownership environment relative to local incomes (national value-to-income standing in a high percentile), which typically sustains reliance on rental housing and supports lease retention. Neighborhood contract rents are near the national midpoint with measurable five‑year growth; combined with a rent-to-income ratio below national pressure points, this suggests room for disciplined revenue management rather than stretch affordability risk.
The building’s 1995 vintage is slightly newer than the neighborhood average year built (early 1990s), offering relative competitiveness versus older stock. At roughly three decades old, investors should anticipate targeted capital planning for systems and cosmetic updates while leveraging value-add potential to capture demand in a renter pool that is deep for this market.
Within a 3‑mile radius, demographics show recent population growth and an expanding household base, with forecasts indicating further increases through the medium term. A renter-occupied share near two-fifths within this radius points to a meaningful tenant base; ongoing population and income gains translate into a larger renter pool and support for occupancy stability.
Safety trends are mixed. Compared with neighborhoods nationwide, the area’s crime standing is below the national median (national percentile in the teens to low 20s), and within the Port St. Lucie metro it ranks in the lower half among 104 neighborhoods. Recent data also indicate a year‑over‑year uptick in estimated property offenses. Investors typically account for this by prioritizing lighting, access control, and monitoring, and by reflecting these dynamics in marketing and underwriting assumptions.
Regional employers provide a broad employment base that supports workforce housing demand and commute convenience, led by logistics/distribution and energy. The following anchors illustrate the nearby draw for renters.
- CVS Distribution Center — logistics/distribution (20.6 miles)
- NextEra Energy — energy & corporate services (41.1 miles) — HQ
This 20‑unit 1995 asset sits in an Inner Suburb location with occupancy that ranks in the top quartile metro-wide, supporting a case for stable tenancy and manageable lease exposure. Elevated home values versus local incomes reinforce reliance on rental housing, while neighborhood rents track near national midpoints—conducive to steady absorption and measured rent growth. According to CRE market data from WDSuite, recent and forecast household growth within 3 miles expands the renter pool, which can aid retention and pricing power when paired with targeted upgrades.
Given its vintage, the property can compete well against older stock, with scope for value-add through unit and common-area refreshes and selective systems modernization. Underwriting should reflect mixed safety comparables and uneven park access, balanced by everyday amenity coverage and proximity to regional employers.
- Top-quartile neighborhood occupancy in metro supports leasing stability
- High-cost ownership market sustains renter reliance and retention
- 1995 vintage offers value-add and systems upgrade potential for rent lift
- 3‑mile population and household growth expand the tenant base
- Risk: below-median safety standing and limited parks warrant proactive asset management