| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Poor |
| Demographics | 53rd | Fair |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1150 NW 80th Ave, Margate, FL, 33063, US |
| Region / Metro | Margate |
| Year of Construction | 1988 |
| Units | 28 |
| Transaction Date | 2005-07-01 |
| Transaction Price | $2,700,000 |
| Buyer | RENANIA CORP |
| Seller | SKY LIMIT ASSOCIATES INC |
1150 NW 80th Ave Margate Multifamily Investment
1988 vintage positions the asset competitively versus older neighborhood stock, with a growing 3-mile household base supporting renter demand, according to WDSuite’s CRE market data.
Located in Broward County’s inner suburbs, the immediate neighborhood shows limited amenity density at the neighborhood level, so residents typically rely on nearby arterial corridors for retail and services. For investors, that places greater weight on on-site features, parking, and property management to support retention and leasing velocity.
The surrounding housing stock skews older (average construction year earlier than the subject), while the property’s 1988 construction is comparatively newer. This can improve competitive positioning against nearby Class C assets, though investors should plan for aging systems and targeted modernization to sustain performance.
Within a 3-mile radius, population and household counts have grown and are projected to continue expanding, indicating a larger tenant base over time. Roughly one-third of housing units in this radius are renter-occupied, which supports depth of multifamily demand, while neighborhood occupancy is below national medians—placing a premium on active leasing, renewals, and resident experience.
Rents in the neighborhood have risen over the past five years, and median home values in the immediate area are lower than many South Florida submarkets. For multifamily owners, that mix points to steady renter reliance on apartment housing, but pricing power should be calibrated to local rent-to-income levels to balance growth with retention.
At a high level, the neighborhood benchmarks around the upper half nationally for overall safety, indicating performance that is above the national median. However, recent year trends show an uptick in violent offense rates; owners should monitor conditions and align security and lighting standards with resident expectations.
As with most inner-suburban locations, comparative safety can vary by corridor and time of day. For underwriting, consider historical trends and property-level measures rather than block-level assumptions, using region and metro comparisons to frame risk.
Nearby employment anchors include healthcare, corporate headquarters, and logistics offices that broaden the commuter tenant base and can support leasing stability. The list below highlights proximate employers that are most relevant to workforce housing demand.
- Tenet Healthcare Corporation, Florida Region — healthcare services (5.1 miles)
- AutoNation — auto retail HQ functions (10.1 miles) — HQ
- Office Depot — office supplies corporate (13.0 miles) — HQ
- Johnson & Johnson — pharmaceuticals & consumer health offices (23.8 miles)
- Ryder System — logistics & fleet management (27.6 miles) — HQ
This 28‑unit, 1988-built asset offers a relative age advantage versus nearby stock, with proximity to diversified employment supporting day-to-day renter demand. Based on commercial real estate analysis from WDSuite, neighborhood-level occupancy trails national medians, so execution will hinge on active leasing, renewals, and measured rent setting that reflects local rent-to-income dynamics.
Within a 3-mile radius, recent and projected growth in population and households point to a larger tenant pool, while corporate and healthcare employers within commuting range help underpin retention. The vintage provides opportunities for focused value-add—common-area refresh, in-unit updates, and systems planning—to maintain competitiveness against older Class C assets.
- 1988 vintage is newer than much of the surrounding stock, supporting competitive positioning with targeted modernization
- Expanding 3-mile population and household counts suggest a growing renter pool that supports occupancy stability over time
- Proximity to healthcare, corporate, and logistics employers broadens the commuter tenant base and aids retention
- Operational focus needed: amenity-light neighborhood context and below-median neighborhood occupancy require disciplined leasing and resident experience
- Affordability pressures in local rent-to-income levels argue for calibrated rent growth and careful underwriting