| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Fair |
| Demographics | 40th | Fair |
| Amenities | 30th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11701 Palm Lake Dr, Jacksonville, FL, 32218, US |
| Region / Metro | Jacksonville |
| Year of Construction | 2008 |
| Units | 24 |
| Transaction Date | 2019-06-17 |
| Transaction Price | $55,000,000 |
| Buyer | CHRISTIAN POPOFF AND MEZZA LP |
| Seller | EASTPORT JACKSONVILLE LLC |
11701 Palm Lake Dr Jacksonville 2008 Multifamily Asset
Neighborhood signals point to a steady workforce renter base and manageable rent-to-income dynamics, according to WDSuite s commercial real estate analysis for the area. Expect demand supported by proximity to major employers, with competitive positioning for a 2008-vintage asset.
Situated in an Inner Suburb of Jacksonville with a C+ neighborhood rating, the area around 11701 Palm Lake Dr trends below the metro median on overall ranking among 368 Jacksonville neighborhoods, based on CRE market data from WDSuite. The property s 2008 construction is newer than the neighborhood s average vintage (mid-1980s), which positions the asset competitively versus older stock; investors should still plan for mid-life system updates and select common-area refreshes to sustain leasing velocity.
Livability is mixed. Grocery access is better than many peers in the region, and park access sits above national medians, while restaurants are adequate. However, cafes and pharmacies are relatively sparse nearby, which may temper some convenience expectations and could influence tenant preferences toward on-site amenities and parking.
For multifamily demand, the neighborhood shows a renter-occupied share in the mid-30% range competitive among Jacksonville neighborhoods indicating a meaningful tenant base without oversaturation. Neighborhood rents benchmark above national medians, while the local rent-to-income ratio trends on the lower side nationally, a combination that can support retention and disciplined rent management.
Demographic statistics aggregated within a 3-mile radius indicate population growth over the past five years, with households expanding and further increases forecast by 2028. This points to a larger tenant pool over time and supports occupancy stability, particularly for well-maintained workforce units that offer practical finishes and parking.
On the ownership side, elevated home values relative to incomes in national context suggest a high-cost ownership market locally, which helps reinforce reliance on rental housing. For investors, this dynamic can underpin leasing fundamentals, though renewed supply or shifts in mortgage rates should still be monitored when evaluating pricing power.
Safety indicators for the surrounding neighborhood trend below national medians, and conditions are weaker than many Jacksonville subareas on WDSuite s benchmarks. Recent year-over-year readings show an uptick in both property and violent offense measures, signaling volatility that investors should underwrite with practical security planning (lighting, access controls, and resident engagement).
Given these trends, it s prudent to compare historical patterns to broader Jacksonville and national trajectories, evaluate current onsite practices, and consider insurer feedback when modeling operating expenses and loss assumptions. Framing safety at the neighborhood level rather than the specific property helps maintain an objective view for risk management.
The location draws from a strong Downtown employment base that supports workforce renter demand and commute convenience, notably CSX and two Fidelity headquarters, plus regional distribution/technology operations like Anixter.
- CSX rail & transportation HQ (8.9 miles) HQ
- Fidelity National Financial title & insurance services (9.4 miles) HQ
- Fidelity National Information Services fintech & payments (9.4 miles) HQ
- Anixter distribution & technology solutions (22.5 miles)
This 24-unit, 2008-vintage asset offers a relative age advantage versus the mid-1980s neighborhood stock, supporting competitive positioning with moderate capital planning for mid-life systems. Household and population growth within a 3-mile radius point to a larger tenant base ahead, and neighborhood rents sit above national medians while rent-to-income readings remain comparatively manageable a setup that favors retention and steady leasing, according to CRE market data from WDSuite. Proximity to major employers in Downtown Jacksonville further reinforces weekday demand.
Key considerations include neighborhood safety metrics that trail national medians and an occupancy level that runs below the metro median, which calls for attentive operations, targeted marketing, and security best practices. Convenience retail is serviceable but thin for certain categories, so amenity programming and maintenance quality will matter for differentiation.
- 2008 construction offers competitive positioning versus older neighborhood stock; plan for mid-life system updates.
- Expanding 3-mile population and households signal a growing renter pool that supports occupancy stability.
- Neighborhood rents above national medians with comparatively manageable rent-to-income support retention and disciplined pricing.
- Access to major employers (CSX and Fidelity HQs) underpins weekday leasing demand.
- Risks: below-median neighborhood safety, softer occupancy trends, and thinner nearby conveniences require active management and security planning.