| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Poor |
| Demographics | 32nd | Poor |
| Amenities | 65th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 965 Candlelight Blvd, Brooksville, FL, 34601, US |
| Region / Metro | Brooksville |
| Year of Construction | 1982 |
| Units | 50 |
| Transaction Date | 2025-09-16 |
| Transaction Price | $9,580,000 |
| Buyer | CANDLELIGHT APARTMENTS FL OWNER LLC |
| Seller | CANDLELIGHT APARTMENTS LTD |
965 Candlelight Blvd Brooksville 60-Unit Multifamily
Neighborhood data points to a deep renter pool and everyday convenience that can support leasing durability, according to WDSuite’s CRE market data. The core investor angle is steady renter demand balanced by cautious underwriting around local occupancy.
This Inner Suburb location in Brooksville sits in a neighborhood rated C+ and performs competitive among Tampa–St. Petersburg–Clearwater neighborhoods for overall amenities (rank 94 of 710). Daily needs are well-covered with grocery access in the top quintile nationally, restaurant density above national norms, and pharmacies comparatively plentiful; parks are limited, which may temper outdoor-amenity appeal.
Neighborhood occupancy is measured for the area, not this property, and trends softer than national benchmarks, suggesting investors should emphasize leasing management and retention strategies. At the same time, the share of housing units that are renter-occupied is high (above most U.S. neighborhoods), indicating a sizable tenant base that can help support absorption and renewal rates for multifamily assets.
Within a 3-mile radius, demographics show recent population and household growth with additional expansion projected, implying a larger tenant base over the next five years. Median household incomes have been rising, and rent levels remain relatively manageable for the area, which can aid lease retention but may limit outsized pricing power. Home values are lower than many U.S. neighborhoods, which can introduce some competition from ownership, yet the convenience profile and renter concentration continue to underpin multifamily demand.
The average neighborhood construction year skews older than this property’s 1985 vintage, pointing to a competitive edge versus older stock; investors may still earmark capital for systems updates or light common-area improvements to strengthen positioning. These observations are based on commercial real estate analysis from WDSuite’s dataset for the immediate neighborhood, with national percentiles used to frame relative strength.
Safety indicators present a mixed but readable profile. Relative to the Tampa–St. Petersburg–Clearwater metro, the neighborhood’s crime rank (46th out of 710 neighborhoods) indicates higher-than-typical crime locally. Nationally, however, several indicators score well: the property-offense measure is in the top tier for safety nationwide and has improved markedly over the past year, while violent-offense levels benchmark above average nationally but show a recent uptick that warrants monitoring. These figures reflect neighborhood-level conditions, not this specific property.
For underwriting, this suggests standard security measures and resident engagement practices are prudent, with attention to trend direction rather than one-year snapshots. Comparisons draw on WDSuite’s CRE market data using metro ranks (out of 710 neighborhoods) and national percentiles to contextualize relative safety.
Regional employment anchors within commuting range support workforce housing demand and retention, notably in insurance, financial services, healthcare plans, and environmental services.
- MetLife Insurance Company — insurance (28.6 miles)
- Raymond James — financial services (31.7 miles)
- Wellcare — managed care/health plans (36.2 miles)
- Wellcare Health Plans — managed care/health plans (36.3 miles) — HQ
- Waste Management — environmental services (36.8 miles)
965 Candlelight Blvd offers 60 units in a neighborhood with strong everyday convenience and a high share of renter-occupied housing units, supporting depth of tenant demand. The 1985 vintage is newer than the local average, which can provide competitive positioning versus older stock, though investors should anticipate selective modernization to optimize rents. Based on CRE market data from WDSuite, neighborhood occupancy runs below national norms, so performance will hinge on leasing execution, resident retention, and thoughtful rent-setting.
Forward-looking demographics within a 3-mile radius indicate population and household growth, expanding the renter pool. Ownership costs in the area are relatively accessible compared with many U.S. markets, which may introduce some competition from for-sale options, yet manageable rent-to-income levels can support renewal stability. Underwriting should balance these strengths with measured assumptions on rent growth and stable operating practices.
- High renter-occupied share in the neighborhood supports a deeper tenant base and leasing stability.
- 1985 vintage provides relative competitiveness versus older local stock; targeted upgrades can unlock value.
- Everyday convenience with strong grocery, restaurant, and pharmacy access enhances resident appeal.
- Demographic growth within 3 miles points to a larger renter pool over the next five years.
- Risk: Neighborhood occupancy trends are soft; success depends on disciplined leasing and retention strategies.