| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Fair |
| Demographics | 49th | Fair |
| Amenities | 24th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2768 State Road A1A, Jacksonville, FL, 32233, US |
| Region / Metro | Jacksonville |
| Year of Construction | 1986 |
| Units | 120 |
| Transaction Date | 2013-08-01 |
| Transaction Price | $7,100,000 |
| Buyer | Marsh Oaks Apartments, LLC |
| Seller | Mid America Apartments LP |
2768 State Road A1A Jacksonville Multifamily Investment
Neighborhood data points to a deep renter base and steady leasing potential, according to WDSuite’s CRE market data, even as occupancy trends remain mid-range for the area.
Positioned along the A1A corridor in Jacksonville’s eastern Inner Suburb, the property benefits from day-to-day convenience and coastal-adjacent mobility. Grocery access is a relative strength (high nationally), while restaurants are adequate and cafés, parks, and pharmacies are sparse, suggesting resident demand concentrates on essentials rather than destination retail.
At the neighborhood level, renter-occupied housing is very high nationally, signaling depth in the tenant base that can support lease-up and renewal activity. By contrast, overall neighborhood occupancy is mid-range, indicating competition for tenants and the need for attentive leasing and asset management to sustain performance.
Within a 3-mile radius, demographics show a stable population and growing household counts historically, with WDSuite data indicating households increased while average household size trended lower. Forward-looking projections show households continuing to expand even as population is expected to edge down, implying smaller household sizes and a broader renter pool that can support occupancy stability.
Home values in the neighborhood are lower relative to national levels, which can create some competition from ownership options. However, neighborhood rent-to-income levels appear manageable, supporting retention and measured pricing power for well-operated assets. School ratings are not available in this dataset; investors should underwrite education quality via local diligence rather than assume impact on demand.
Safety indicators are mixed. Nationally, this neighborhood benchmarks below average on safety, while within the Jacksonville metro it sits in the middle tier among 368 neighborhoods. Recent year-over-year changes show reported offenses rising, suggesting operators should plan for practical security measures and underwriting cushions.
For investors, the takeaway is to calibrate expense assumptions for lighting, access controls, and community engagement, and to emphasize tenant retention practices that help stabilize operations over the hold period.
The employment base includes major corporate offices in Downtown and Southbank that broaden commuting options and support renter demand, particularly for households prioritizing access to rail logistics, title insurance, fintech, and distribution roles.
- CSX — rail transportation (14.7 miles) — HQ
- Fidelity National Financial — title insurance (15.4 miles) — HQ
- Fidelity National Information Services — fintech/payments (15.4 miles) — HQ
- Anixter — distribution & electrical supplies (16.7 miles)
This 120-unit asset’s demand profile is anchored by a high concentration of renter-occupied housing at the neighborhood level and convenient access to daily-needs retail, with grocery coverage a relative strength. Neighborhood occupancy trends sit in the mid-range, so execution—leasing velocity, renewals, and expense control—remains the key differentiator. Based on commercial real estate analysis from WDSuite, household growth within a 3-mile radius is expected to continue even as average household size declines, expanding the renter pool and supporting sustained tenancy.
Lower neighborhood home values can introduce competition from ownership, but balanced rent-to-income levels point to manageable affordability pressure and potential for steady retention. Nearby anchor employers broaden the commuting catchment, which can reinforce leasing stability across cycles.
- Deep renter base at the neighborhood level supports demand and renewals.
- Grocery access and essential services underpin day-to-day livability, aiding tenant retention.
- 3-mile household growth with smaller household sizes indicates a broader renter pool over time.
- Regional employers (rail, title insurance, fintech, distribution) support leasing stability.
- Risks: mid-range neighborhood occupancy, below-national safety benchmarks, and limited lifestyle amenities warrant conservative underwriting.