| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Good |
| Demographics | 54th | Good |
| Amenities | 65th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3500 Creighton Rd, Pensacola, FL, 32504, US |
| Region / Metro | Pensacola |
| Year of Construction | 1982 |
| Units | 20 |
| Transaction Date | 2011-10-01 |
| Transaction Price | $5,629,300 |
| Buyer | AHPC CRESTVIEW AT CORDOVA 2021 LLC |
| Seller | CRESTVIEW AT CORDOVA LLC |
3500 Creighton Rd Pensacola Multifamily Investment Opportunity
Neighborhood occupancy has been resilient, with tight vacancies supporting stable cash flow potential according to WDSuite’s CRE market data. Positioned in an inner-suburb pocket of Pensacola, the location balances day-to-day convenience with steady renter demand.
This inner-suburb location in Pensacola emphasizes daily convenience: restaurant and grocery density ranks competitively within the metro, and pharmacies and cafés are readily accessible. While park access is limited, the amenity mix supports routine needs and commute flexibility for a broad renter base.
Neighborhood occupancy is strong relative to national norms (top quartile nationally), and median rents in the area remain manageable versus local incomes, which can aid retention and leasing stability. Home values are comparatively moderate for Florida, reinforcing reliance on multifamily housing without overly constraining move-up options—helpful for balanced renewal dynamics.
Within a 3-mile radius, demographics indicate a mixed picture: population dipped modestly over the past five years, but households and families expanded and are projected to continue growing through 2028, suggesting a larger tenant base ahead. Smaller average household sizes further point to more renters entering the market, which can support occupancy stability and absorption.
Renter-occupied housing accounts for roughly two-fifths of units within the 3-mile radius, indicating a meaningful renter concentration and depth of demand for multifamily product. School quality trends lower on average, which investors should underwrite carefully, but the area’s convenience and service density remain positives for workforce-oriented demand. These dynamics align with balanced pricing power and prudent lease management, informed by commercial real estate analysis from WDSuite.
Safety trends in the immediate neighborhood are mixed when viewed against the Pensacola-Ferry Pass-Brent metro and national benchmarks. Overall crime performance sits near the metro median among 134 neighborhoods, indicating neither a clear outlier for safety nor a persistent hotspot relative to the region.
Nationally, the neighborhood compares below average on safety measures; however, recent data show a notable year-over-year decline in property offenses, signaling momentum in the right direction. Investors should evaluate property security measures and operating practices as part of underwriting while acknowledging the improving trend line.
This 20-unit Pensacola asset benefits from a high-occupancy neighborhood, manageable rent-to-income dynamics, and a service-rich inner-suburb location. According to CRE market data from WDSuite, the surrounding area demonstrates competitive occupancy versus national norms, while neighborhood-level NOI per unit ranks competitively within the metro. Together, these indicators point to durable renter demand and steady leasing fundamentals.
Forward-looking demographics within a 3-mile radius show growth in households and families through 2028, supporting a larger tenant base even as household sizes trend smaller. Balanced homeownership costs and a meaningful share of renter-occupied units suggest depth of demand for multifamily housing, with lease retention supported by day-to-day convenience. Key underwriting considerations include below-average school ratings, limited park access, and safety metrics that trail national comparables despite recent improvement.
- Tight neighborhood occupancy supports cash flow stability and steady absorption
- Service-rich inner suburb with strong restaurant, grocery, and pharmacy access
- 3-mile radius shows household and family growth, expanding the tenant base
- Competitive neighborhood NOI per unit within the metro
- Risks: below-average school ratings, limited parks, and safety metrics that lag national peers