| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Fair |
| Demographics | 94th | Best |
| Amenities | 26th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 351 Palm Ave, Boca Grande, FL, 33921, US |
| Region / Metro | Boca Grande |
| Year of Construction | 1978 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
351 Palm Ave Boca Grande Multifamily Overview
Owner-dominant coastal enclave with a very limited renter base; performance hinges on niche demand and thoughtful value-add strategy, according to WDSuite’s CRE market data.
Boca Grande sits within the Cape Coral–Fort Myers metro and rates A- overall (ranked 43 among 211 metro neighborhoods), signaling strong household wealth and quality-of-life drivers even as day-to-day services are sparse nearby. Restaurants are relatively accessible compared with many peer areas in the metro, while parks score stronger than average, offering lifestyle appeal that can aid marketing and retention for well-positioned assets.
Amenities skew toward dining and recreation rather than daily necessities: park access ranks competitive among Cape Coral–Fort Myers neighborhoods, but the immediate area shows limited grocery and pharmacy density. For residents, this translates to a destination lifestyle rather than convenience-driven living—an important consideration for positioning and lease-up pacing.
Housing is overwhelmingly owner-occupied in the neighborhood and within a 3-mile radius, indicating a thin base of renter-occupied units and a smaller multifamily tenant pool. For investors, that suggests demand is more niche—potentially seasonal, downsizing households, or corporate/extended-stay use—rather than broad-based renter depth typical of larger rental submarkets.
Median home values and household incomes sit at the top end nationally, reinforcing that ownership is a high-cost proposition. In rental terms, this can support pricing power for quality units, but the limited renter concentration means absorption and stabilization rely on targeted demand segments rather than metro-wide renter inflows. The property’s 1978 vintage is modestly older than the neighborhood average construction year (1984), implying near- to medium-term capital planning for systems and interiors; in return, value-add modernization can sharpen competitiveness versus newer stock.
Demographic indicators within a 3-mile radius show smaller average household size and a large 65+ cohort, with households up while population edges down—consistent with smaller households and second-home dynamics. This backdrop favors efficient floor plans and convenience features; the asset’s smaller average unit size aligns with that demand profile, though service-light surroundings should be factored into amenity strategy.
Relative to the Cape Coral–Fort Myers metro, the neighborhood’s overall crime rank sits around the middle of the pack (109 out of 211), while national comparisons suggest favorable conditions: violent offense rates are in the top decile nationally, and property offenses score above average. For investors, this points to a stability tailwind versus many U.S. neighborhoods, supporting leasing and retention for well-managed assets.
Recent trends indicate improvement in serious offenses year over year, while property-related incidents remain comparatively moderate by national standards. As always, underwriting should reference the most current data for the broader submarket and seasonal fluctuations, but directional indicators are constructive for multifamily operations.
Regional employment access is anchored by select corporate presences within commuting range, supporting executive, corporate housing, and extended-stay demand reflected in Boca Grande’s niche renter base. The list below highlights a notable headquarters within reasonable driving distance.
- Hertz Global Holdings — corporate offices (36.0 miles) — HQ
351 Palm Ave offers a boutique, 24-unit footprint in a high-income, ownership-heavy enclave where renter-occupied units are scarce. That dynamic can support premium positioning for renovated product serving seasonal, executive, or rightsizing households, but it also means demand is specialized and leasing can be more sensitive to product-market fit. Based on commercial real estate analysis from WDSuite, neighborhood quality indicators are strong, with national safety comparisons supportive of tenant retention.
The 1978 vintage points to targeted capital needs—mechanicals, exteriors, and interior finishes—to command pricing versus younger inventory. Elevated home values and wealth in the area reduce direct competition from entry-level ownership, yet the thin renter pool requires disciplined marketing and conservative absorption assumptions. Smaller average unit sizes align with an older, smaller-household profile within a 3-mile radius, suggesting resonance for efficient layouts and low-maintenance living.
- High-income, ownership-dominant micro-market that can support premium rents for well-finished units
- Safety compares favorably at the national level, aiding retention and long-term occupancy stability
- 1978 vintage with value-add potential across systems and interiors to sharpen competitive positioning
- Efficient unit sizes fit smaller-household and seasonal use cases common within a 3-mile radius
- Risk: extremely limited renter-occupied base and sparse daily services require precise targeting and conservative lease-up assumptions