| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 59th | Good |
| Amenities | 50th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2175 W State Road 84, Fort Lauderdale, FL, 33312, US |
| Region / Metro | Fort Lauderdale |
| Year of Construction | 2003 |
| Units | 28 |
| Transaction Date | 1985-02-01 |
| Transaction Price | $41,785,714 |
| Buyer | AVAILABLE NOT |
| Seller | AVAILABLE NOT |
2175 W State Road 84 Fort Lauderdale Multifamily Investment
High renter-occupied concentration in the surrounding neighborhood supports a deep tenant base, according to WDSuite’s CRE market data.
This Inner Suburb pocket carries a B+ neighborhood rating and ranks 123 out of 345 within the Fort Lauderdale-Pompano Beach-Sunrise metro—competitive among Fort Lauderdale neighborhoods. Amenity access is solid for daily needs, with cafes and grocery options testing in the upper national quartiles, while parks score in the top quartile nationally; pharmacy and childcare options are thinner, which may modestly shape renter profiles.
The property’s 2003 construction is newer than the neighborhood’s average vintage of 1987. That relative youth can support competitive positioning versus older stock, though investors should still plan for mid-life systems updates and targeted modernization to meet current renter expectations.
Neighborhood rent levels sit on the higher side nationally and have grown over the last five years, reflecting demand for well-located units near job corridors. At the same time, the neighborhood’s rent-to-income profile indicates affordability pressure for some renters, suggesting a need for disciplined lease management and renewals. Neighborhood occupancy measures have eased in recent years, so performance may hinge on effective marketing and unit readiness rather than pure market lift.
Within a 3-mile radius, population and household counts have expanded and are projected to continue growing, with forecasts indicating a notable increase in households and smaller average household sizes over the next five years. This points to a larger renter pool and supports leasing velocity for appropriately positioned units. Median incomes within 3 miles have trended upward, which can underpin rent levels, while a high-cost ownership market (reflected by a strong value-to-income ratio nationally) tends to sustain reliance on multifamily housing. According to WDSuite’s commercial real estate analysis, neighborhood NOI per unit trends score in the upper national tier, reinforcing the area’s income-generation potential at the neighborhood level.
Safety indicators for the neighborhood trend below national and metro benchmarks. The area’s crime standing is 303 out of 345 metro neighborhoods, and national comparisons place it in the lower percentiles for both property and violent offenses. Recent year-over-year estimates also point to higher incident rates. Investors typically address these dynamics through pragmatic measures such as security planning, lighting, and insurance underwriting assumptions, rather than avoiding the submarket outright.
Proximity to major employers anchors renter demand through short commutes and diversified industry exposure. Notable nearby employers include AutoNation, Johnson & Johnson, Tenet Healthcare Corporation, Ryder System, and Office Depot.
- AutoNation — auto retail HQ and corporate offices (2.6 miles) — HQ
- Johnson & Johnson — pharmaceuticals (15.1 miles)
- Tenet Healthcare Corporation, Florida Region — healthcare services (16.2 miles)
- Ryder System — logistics and transportation (20.3 miles) — HQ
- Office Depot — office supplies (21.9 miles) — HQ
The 2003 vintage positions 2175 W State Road 84 competitively against older neighborhood stock, offering an approachable platform for light value-add while mitigating some near-term capital uncertainty typical of pre-1990 assets. Strong renter-occupied concentration in the neighborhood supports demand depth, and a high-cost ownership landscape reinforces reliance on multifamily. Within a 3-mile radius, population and household growth—paired with smaller projected household sizes—points to a larger tenant base and supports occupancy over the medium term.
Balanced against these strengths, neighborhood occupancy has softened and safety metrics trend below national averages, so execution will matter: targeted renovations, security planning, and disciplined revenue management should drive outcomes. According to CRE market data from WDSuite, the neighborhood’s income-generation profile ranks well nationally, suggesting the submarket can support durable cash flows for well-managed assets.
- 2003 vintage offers competitive positioning versus older local stock, with manageable modernization scope
- High renter-occupied share indicates depth of tenant demand and supports leasing continuity
- 3-mile demand drivers: growing households and smaller sizes expand the renter pool
- High-cost ownership market sustains multifamily reliance and pricing power
- Risks: softer neighborhood occupancy and below-average safety require focused leasing, security measures, and expense controls