| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Best |
| Demographics | 40th | Poor |
| Amenities | 53rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5301 W McNab Rd, North Lauderdale, FL, 33068, US |
| Region / Metro | North Lauderdale |
| Year of Construction | 2004 |
| Units | 20 |
| Transaction Date | 2021-12-21 |
| Transaction Price | $26,742,400 |
| Buyer | 5301 W MCNAB ROAD FL OWNER LLC |
| Seller | SANCTUARY COVE ASSOCIATES LTD |
5301 W McNab Rd North Lauderdale Multifamily Investment
Neighborhood occupancy has been steady with signs of improvement, supporting leasing durability according to WDSuite s CRE market data. This inner-suburb location offers broad renter demand drivers and a 2004 vintage that competes well against older local stock.
Situated in North Lauderdale within the Fort Lauderdale Pompano Beach Sunrise metro, the neighborhood scores a B- and ranks 185 out of 345 metro neighborhoods. Amenity access is above the metro median, with everyday needs supported by competitive concentrations of restaurants, cafes, grocery options, and childcare relative to peer neighborhoods. Park and pharmacy access are comparatively limited, so residents tend to rely on nearby commercial corridors for services.
Rents in the neighborhood sit above the metro median and in the upper tier nationally, which can translate to pricing power when paired with stable occupancy. At the same time, the rent-to-income backdrop indicates some affordability pressure, suggesting prudent lease management and renewal strategies. According to CRE market data from WDSuite, neighborhood NOI per unit trends align with top quartile performance nationally, underscoring income potential for well-operated assets.
The local housing stock averages 1992 construction, while this property built in 2004 is newer than the neighborhood norm, offering relative competitive positioning versus older properties; investors should still plan for mid-life system updates and selective renovations to sustain appeal.
Renter-occupied housing accounts for a meaningful share of neighborhood units (38% per neighborhood data), supporting depth in the tenant base. Demographic statistics aggregated within a 3-mile radius show recent population growth and a notable increase in households, expanding the renter pool and helping support occupancy stability over the medium term. Forecasts point to continued growth in both households and incomes, which can bolster demand for well-managed multifamily inventory.
Neighborhood safety indicators are near the metro median (ranked 172 out of 345 metro neighborhoods), and below the national median by percentile. Recent data show property offenses trending downward over the past year, indicating an improving direction, while violent offense indicators remain weaker than national norms. Investors should underwrite with neighborhood-level context, monitor trend direction, and consider standard security and lighting measures to support resident experience.
Proximity to major corporate offices and healthcare employers supports a broad commuter tenant base and can aid retention. Nearby anchors include AutoNation, Tenet Healthcare, Office Depot, Johnson & Johnson, and Ryder System.
- AutoNation corporate offices (6.9 miles) HQ
- Tenet Healthcare Corporation, Florida Region healthcare services (8.3 miles)
- Office Depot corporate offices (14.5 miles) HQ
- Johnson & Johnson corporate offices (21.7 miles)
- Ryder System corporate offices (26.0 miles) HQ
5301 W McNab Rd offers a 2004 vintage, 20-unit asset positioned in an inner-suburban neighborhood where occupancy has been stable and renter demand is supported by everyday amenities and commute access. Compared with the neighborhood s older average stock, the property s vintage is a competitive advantage; investors should plan for mid-life capital items and targeted upgrades to sustain positioning. Elevated ownership costs in the area tend to reinforce reliance on multifamily housing, while above-metro-median rents point to potential pricing power when balanced with retention-focused leasing.
Demographic statistics aggregated within a 3-mile radius reflect recent population growth and a faster rise in household counts, expanding the tenant base and supporting occupancy stability. According to CRE market data from WDSuite, neighborhood income performance per unit sits in the top quartile nationally, consistent with a market that can reward operational discipline, while affordability pressure and amenity gaps (parks, pharmacies) remain underwriting considerations.
- 2004 construction competes well versus older neighborhood stock, with scope for selective value-add
- Stable neighborhood occupancy and a sizable renter-occupied share support leasing durability
- Above-metro-median rents and top-quartile NOI per unit point to income potential with strong operations
- 3-mile household growth expands the tenant pool, aiding retention and lease-up
- Risks: affordability pressure (high rent-to-income), safety around metro median, and limited park/pharmacy access