| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 71st | Best |
| Amenities | 40th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1300 Shetter Ave, Jacksonville Beach, FL, 32250, US |
| Region / Metro | Jacksonville Beach |
| Year of Construction | 2009 |
| Units | 20 |
| Transaction Date | 2016-04-01 |
| Transaction Price | $46,512,000 |
| Buyer | KRE B HOUSE OWNER LLC |
| Seller | BR BEACH HOUSE DST |
1300 Shetter Ave Jacksonville Beach Multifamily Investment
Stable neighborhood occupancy and high-income household dynamics support durable renter demand in this coastal submarket, according to WDSuite’s CRE market data.
Jacksonville Beach offers a suburban coastal setting with strong livability fundamentals that matter to multifamily investors. Neighborhood occupancy is in the mid-90s and sits above national norms, indicating steady leasing and limited downtime between turns based on CRE market data from WDSuite. Rent levels in the neighborhood are higher than many U.S. areas and have increased over the past five years, reinforcing pricing power where unit quality and management execution are competitive.
Amenities are a relative strength. Parks density ranks in the top quartile nationally and restaurants are competitive versus peer neighborhoods, while grocery access is above average. By contrast, the immediate area shows limited cafe and pharmacy presence, so daily convenience may rely on nearby corridors rather than within-block retail. Average school ratings are around the national midpoint to slightly above, which can aid retention for household renters without commanding the premium seen in top school clusters.
The 3-mile radius surrounding the property shows a diversified, higher-income renter base and ongoing growth. Median and mean household incomes are elevated, and households are projected to increase over the next five years with modest declines in household size, pointing to a larger tenant base and continued demand for multifamily units. Roughly one-third of housing units are renter-occupied within 3 miles, providing depth for leasing while still competing with ownership-minded households.
Relative to the Jacksonville metro, this neighborhood is competitive on several investor metrics: it holds an A- neighborhood rating and strong NOI-per-unit performance sits in the top quintile nationally, signaling operational potential for well-run assets. The local construction vintage trends around 1990; this property’s 2009 build is newer than the neighborhood average, which can reduce near-term capital needs while still leaving room for selective modernization to meet current renter preferences.
Safety trends compare favorably at the national level. Overall conditions are in the top quartile nationally, and violent offense rates benchmark in a stronger national percentile as well, indicating comparatively lower severe incidents than many U.S. neighborhoods. Property offense measures also track better than national averages.
Recent data shows a year-over-year decline in violent offense estimates, which supports tenant retention and leasing stability when combined with income and occupancy fundamentals. As always, investors should review submarket and corridor-level patterns during diligence, since safety can vary within metros and over time.
The employment base includes logistics and Fortune 500 financial services employers within commuting range, which supports renter demand and lease retention for workforce and professional tenants. Listed below are nearby corporate offices that shape the area’s demand profile.
- Anixter — distribution/logistics (12.7 miles)
- CSX — rail & logistics (15.9 miles) — HQ
- Fidelity National Financial — financial services (16.5 miles) — HQ
- Fidelity National Information Services — financial technology (16.5 miles) — HQ
This 2009-vintage, 20-unit property benefits from durable neighborhood occupancy, elevated local incomes, and an expanding renter pool within a 3-mile radius. Elevated home values in the neighborhood context reinforce reliance on multifamily options, supporting pricing power and lease-up cadence where unit finishes and management practices are competitive. According to CRE market data from WDSuite, the area’s NOI performance is strong relative to peers, and national-percentile positioning for safety further supports leasing stability.
Being newer than the neighborhood’s average construction year, the asset may require less immediate capital for core systems, while targeted upgrades can capture demand from higher-earning renters and sustain rent growth. Forward-looking projections show increases in households and steady income gains within 3 miles, which point to a broader tenant base and occupancy resilience through cycles.
- Mid-90s neighborhood occupancy and rising incomes support stable leasing
- 2009 construction offers reduced near-term capex with selective value-add potential
- Elevated home values reinforce multifamily demand and pricing power
- Nationally competitive safety and strong NOI positioning aid retention
- Risk: limited immediate cafe/pharmacy density and competition from ownership