| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Poor |
| Demographics | 48th | Fair |
| Amenities | 23rd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11900 Palm Bay Ct, Bonita Springs, FL, 34135, US |
| Region / Metro | Bonita Springs |
| Year of Construction | 2006 |
| Units | 36 |
| Transaction Date | 2023-12-15 |
| Transaction Price | $5,250,000 |
| Buyer | LYNX AT PRESERVE LLC |
| Seller | BONITA LLC |
11900 Palm Bay Ct Bonita Springs Multifamily Investment
Forecast household growth within a 3-mile radius points to a larger tenant base, according to WDSuite s CRE market data, supporting sustained renter demand in this Inner Suburb location.
Located in Bonita Springs within the Cape Coral Fort Myers metro, the neighborhood carries a C+ rating and performs above the metro median on several everyday convenience measures. Grocery access is competitive among Cape Coral Fort Myers neighborhoods (ranked 59th of 211), while restaurant density tracks above the metro median (94th of 211), according to WDSuite s CRE market data.
Lifestyle amenities are more limited in certain categories: cafes, parks, childcare, and pharmacies are comparatively sparse (ranks near the lower end of 211 neighborhoods nationally by percentile), which investors should consider when underwriting tenant retention and marketing spend.
Within a 3-mile radius, households have been increasing and are projected to expand further through 2028, even as average household size trends lower. This combination typically supports a broader renter pool and steadier absorption for mid-size assets.
The 2006 vintage is newer than the neighborhood s average construction year of 1995. For investors, that positioning can reduce near-term capital exposure versus older stock while still leaving room for targeted modernization (common areas, interiors, or systems) to sharpen competitive standing and capture rent premiums.
Ownership costs in the area are elevated relative to incomes by national comparison (home values in the upper-third nationally), which can reinforce reliance on multifamily housing and aid pricing power for well-maintained units, particularly as median incomes trend higher and lease-up competition focuses on quality and convenience.
Safety indicators trend favorable in national terms, with property offenses positioned in the top quartile nationally and violent offense levels around the national midpoint, based on WDSuite s CRE market data. Recent year-over-year estimates show notable declines in both violent and property offenses, suggesting improving conditions rather than deterioration.
At the metro level, safety varies across Cape Coral Fort Myers subareas; investors should benchmark against peer neighborhoods when modeling retention and insurance assumptions. Use trend direction and national percentile context rather than block-level snapshots for underwriting.
Proximity to a major corporate presence supports commuter convenience and renter demand, with access anchored by Hertz Global Holdings.
- Hertz Global Holdings corporate offices (5.9 miles) HQ
This 36-unit, 2006-vintage asset offers a competitive footing versus older neighborhood stock while benefiting from projected household growth within 3 miles that enlarges the tenant base and supports occupancy stability. Elevated ownership costs in the area and rising household incomes point to durable renter demand for quality units, according to commercial real estate analysis from WDSuite.
Amenity access is strongest around daily needs (notably grocery), with restaurants above metro median density; more limited parks, cafes, and childcare suggest marketing should emphasize in-unit quality and commute efficiency over neighborhood lifestyle. Capital plans can target selective upgrades to capture pricing power while monitoring an owner-heavy tenure profile that may moderate near-term leasing velocity.
- 2006 vintage outcompetes older local stock; targeted upgrades can drive rent premiums.
- 3-mile household growth expands the renter pool, supporting absorption and retention.
- Elevated ownership costs and rising incomes reinforce reliance on multifamily rentals.
- Daily-needs access (grocery/restaurants) supports livability; market to convenience and quality.
- Risks: owner-heavy tenure and thinner lifestyle amenities may temper lease-up velocity; underwrite conservatively.