| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Best |
| Demographics | 43rd | Best |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 315 State Road 62, Bowling Green, FL, 33834, US |
| Region / Metro | Bowling Green |
| Year of Construction | 2003 |
| Units | 120 |
| Transaction Date | 2018-06-27 |
| Transaction Price | $2,840,000 |
| Buyer | COUNTRY MANOR PROPERTY LLC |
| Seller | COUNTRY MANOR ASSOCIATES LTD |
315 State Road 62 Bowling Green Multifamily Investment
2003 vintage and 120 units position this asset as relatively competitive against older neighborhood stock, with demand supported by a regional workforce draw, according to WDSuite’s CRE market data. Investors should underwrite rural market dynamics and leasing tied to commute convenience rather than walkable amenities.
Bowling Green is a rural neighborhood within the Wauchula, FL metro (neighborhood rating: B+). The area skews auto-oriented with limited walkable amenities, which places greater weight on onsite features and parking for leasing. School quality trends are comparatively favorable in metro context, with the neighborhood ranking 1st among 12 metro neighborhoods and landing in the upper half nationally, a positive signal for family-oriented renter demand.
The property s 2003 construction is newer than the neighborhood s average vintage (1992), suggesting a competitive edge versus older stock. That positioning can moderate near-term capital needs while still leaving room for targeted renovations to modernize interiors and common areas as part of a value-add plan.
Neighborhood occupancy is reported at 83.7% (measured for the neighborhood, not the property), roughly around the metro median. Renter-occupied housing accounts for a moderate share locally, indicating a defined but not dominant renter base that can support multifamily absorption when pricing and quality are aligned. Home values are relatively modest for Florida, which can introduce some competition from ownership; however, median rent levels and a rent-to-income ratio near 0.19 point to manageable affordability pressure, aiding retention and lease stability.
Demographic statistics are aggregated within a 3-mile radius: recent years show a slight population dip alongside meaningful growth in households, implying smaller average household sizes and a broader base of potential renters. Forward-looking projections anticipate continued household growth even with softer population totals, which can expand the tenant pool for appropriately sized units. This dynamic, paired with measured pricing, supports occupancy stability in a rural context and aligns with investor priorities in commercial real estate analysis.
Neighborhood-level crime metrics are not available in this dataset for Bowling Green. Investors typically benchmark safety by comparing neighborhood trends to metro and county sources over time and corroborating with multiple datasets. Where data is limited, prudent underwriting incorporates property-level security measures, lighting, and resident feedback trends as part of risk assessment.
The renter base is supported by regional employers accessible by car, reinforcing workforce housing dynamics and commute-driven leasing. Key nearby employers include Mosaic, Publix Super Markets, Cardinal Health, and Airgas.
- Mosaic corporate offices (19.8 miles)
- Publix Super Markets corporate offices (30.2 miles) HQ
- Cardinal Health corporate offices (38.1 miles)
- Airgas Store corporate offices (44.1 miles)
This 120-unit asset, built in 2003, benefits from a newer-than-neighborhood average vintage that can compete well against older regional stock while enabling targeted value-add upgrades. Neighborhood occupancy trends sit around the metro median and, according to CRE market data from WDSuite, local rent levels relative to income suggest manageable affordability pressure a constructive backdrop for retention in a price-sensitive rural market.
Within a 3-mile radius, households have increased despite a slight population decline, pointing to smaller household sizes and a broader leasing universe for right-sized units. Regional employers within commuting range bolster the workforce renter pool, though limited walkable amenities and a homeownership option set at modest price points warrant conservative underwriting on lease-up velocity and concessions.
- 2003 vintage offers competitive positioning versus older neighborhood stock with targeted renovation upside
- Household growth within 3 miles expands the tenant base even as population trends soften
- Manageable rent-to-income dynamics support retention and pricing discipline
- Commutable access to regional employers underpins workforce housing demand
- Risk: rural location with limited amenities and potential competition from ownership options; underwrite lease-up cadence and concessions accordingly