AbstractTwo formulas for the multiplicity of the fiber cone of an 𝑚-primary ideal of a d-dimensional Cohen–Macaulay local ring (R, 𝑚) are derived in terms of the mixed multiplicity ed–1(𝑚|I), the multiplicity e(I), and superficial elements. As a consequence, the Cohen–Macaulay property of F(I) when I has minimal mixed multiplicity or almost minimal mixed multiplicity is characterized in terms of the reduction number of I and lengths of certain ideals. We also characterize the Cohen–Macaulay and Gorenstein properties of fiber cones of 𝑚–primary ideals with a d–generated minimal reduction J satisfying ℓ(I2/JI) = 1 or ℓ(I𝑚/J𝑚) = 1.