| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Fair |
| Demographics | 70th | Good |
| Amenities | 50th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1130 Turtle Creek Blvd, Naples, FL, 34110, US |
| Region / Metro | Naples |
| Year of Construction | 1997 |
| Units | 26 |
| Transaction Date | 2022-11-07 |
| Transaction Price | $58,260,000 |
| Buyer | MBP 1 PROPERTIES LLC |
| Seller | MEADOWBROOK PRESERVE LLC |
1130 Turtle Creek Blvd Naples Multifamily Investment
Neighborhood renter demand is supported by household growth and rising incomes, according to WDSuite’s CRE market data, suggesting stable leasing potential for a well-managed 26-unit asset.
Neighborhood dynamics and livability
The property sits in an Inner Suburb of Naples with an A- neighborhood rating and a rank of 29 among 109 metro neighborhoods, making it competitive among Naples-Marco Island neighborhoods. Neighborhood occupancy has trended higher over the past five years and, while measured for the neighborhood and not the property, this improvement points to firmer renter demand at the submarket level.
Within a 3-mile radius, households have increased while average household size has edged down, expanding the local renter pool and supporting occupancy stability. Forecasts indicate further population and household growth through 2028, which can translate into a larger tenant base for multifamily properties. Median contract rents in the area have also risen, reinforcing achievable rent benchmarks without outsized affordability pressure.
Amenities are mixed: neighborhood data show competitive access to groceries, pharmacies, and restaurants relative to the metro, though parks and cafes are thinner. For investors, this suggests daily-needs convenience that aids retention, even if lifestyle-oriented amenities are more destination-based.
The building’s 1997 vintage is slightly older than the neighborhood’s average construction year (2002). That gap can create value-add potential through targeted interior upgrades and building system refreshes, helping the asset compete against newer stock while informing capital planning. Neighborhood tenure data indicate a meaningful share of renter-occupied housing units, which supports depth of demand for professionally managed multifamily—an observation grounded in commercial real estate analysis from WDSuite.
Safety context
Safety indicators compare favorably at the national level, with the neighborhood scoring in the higher percentiles nationwide. At the metro scale (ranked against 109 neighborhoods), the area is competitive but not the very lowest-crime cohort, signaling typical suburban risk management considerations for Naples.
Recent year-over-year trends show estimated declines in both violent and property offenses at the neighborhood level, which supports a constructive near-term view. These figures describe neighborhood conditions, not property-specific security, and investors should align on-site measures with evolving local trends.
Anchor employers and commute drivers
Regional employment nodes help support renter demand through commute convenience. Notably, the following employer presence contributes to a stable white-collar tenant base in northern Collier County.
- Hertz Global Holdings — car rental (7.9 miles) — HQ
Investment thesis
This Naples asset pairs neighborhood demand resilience with value-add potential. Neighborhood occupancy has improved over the last five years, and 3-mile household growth—alongside rising median incomes and rent levels—supports a deeper tenant base and lease-up consistency. According to CRE market data from WDSuite, the area’s rent-to-income profile indicates manageable affordability pressure, which can aid retention and pricing discipline.
Built in 1997, the property trails the neighborhood’s average vintage, creating a clear path for targeted renovations and capital planning to enhance competitiveness versus newer product. Amenity access favors daily needs (grocers, pharmacies, restaurants), a profile that can support day-to-day livability and resident stickiness, even if some lifestyle amenities are reached by short drives.
- Neighborhood occupancy trending higher supports leasing stability (neighborhood-level metric).
- 3-mile household growth and income gains expand the renter pool and bolster demand.
- 1997 vintage offers value-add and capital planning opportunities to compete with newer stock.
- Daily-needs amenity access can aid retention and consistent rent collections.
- Risk: amenity mix is thinner for parks/cafes and local employment can be cyclical—underwriting should reflect conservative lease-up and reserves.