| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Poor |
| Demographics | 13th | Poor |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2275 Central Ave, Fort Myers, FL, 33901, US |
| Region / Metro | Fort Myers |
| Year of Construction | 1973 |
| Units | 48 |
| Transaction Date | 2015-06-09 |
| Transaction Price | $2,120,000 |
| Buyer | BAY PARK FM LLC |
| Seller | WATERSONG REALTY SERIES II LLC |
2275 Central Ave, Fort Myers — 48-Unit Multifamily Position
Renter-occupied housing is concentrated in the surrounding neighborhood, pointing to a deep tenant base and durable leasing demand, according to WDSuite’s CRE market data. Occupancy and pricing power will hinge on asset quality and positioning relative to nearby workforce housing.
Located in Fort Myers’ inner-suburb fabric, the property benefits from practical neighborhood amenities: grocery and pharmacy access rank above many peers locally, while restaurants are plentiful. Parks are a relative strength, supporting livability and retention for residents who prioritize open space. Cafés and childcare are thinner, which suggests demand skews toward everyday convenience rather than lifestyle retail.
Neighborhood renter-occupied share is high, indicating a sizable pool of multifamily households and potential depth for leasing. Neighborhood occupancy is modest by national comparison, so well-managed assets with competitive finishes and responsive operations can stand out on renewals and lease-up. Median home values are below many coastal Florida submarkets, and this high-cost ownership market context at the metro level can reinforce renter reliance on multifamily housing, supporting stabilization and lease retention.
Demographic statistics are aggregated within a 3-mile radius. Recent years show population and household growth with a larger working-age cohort expected ahead, signaling renter pool expansion that can support occupancy stability. Forward-looking data indicate continued increases in households and incomes, which can underpin demand for renovated units and moderate rent steps where value is demonstrated.
Vintage context matters: the property’s 1973 construction is newer than the neighborhood’s older housing stock (average 1961). That positioning can be competitive versus mid-century buildings, though planning for system updates and targeted modernization remains prudent to capture renters seeking quality at attainable price points.
Safety trends are comparatively favorable. The neighborhood sits in the top quartile nationally for lower property and violent offense exposure based on WDSuite’s indicators, and conditions are competitive among Cape Coral–Fort Myers neighborhoods. Year-over-year estimates show meaningful declines in both property and violent offenses, suggesting momentum that supports tenant retention and day-to-day livability.
As with any urban-adjacent area, outcomes vary block to block and by asset operations. Owners who invest in lighting, access control, and resident engagement typically align more closely with the stronger end of local trends.
Regional employment is anchored by corporate services and travel-related headquarters accessible by regional arterials, supporting workforce renter demand and commute convenience for residents. The employers below illustrate nearby demand drivers.
- Hertz Global Holdings — car rental HQ (15.3 miles) — HQ
This 48-unit, 1973-vintage asset offers exposure to a renter-heavy neighborhood with everyday amenities and improving safety indicators. The submarket’s practical access to grocery, pharmacy, and parks supports day-to-day livability, while restaurants provide additional draw. High renter concentration suggests a deep tenant base; the key for performance is positioning the asset above dated competition through targeted upgrades and attentive management. Based on commercial real estate analysis from WDSuite, neighborhood occupancy sits below national norms, reinforcing the advantage for properties that present renovated interiors and reliable operations.
Within a 3-mile radius, population and households have been expanding, with forecasts pointing to continued household growth and income gains—conditions that typically support renter pool expansion and absorption of refreshed units. Ownership remains comparatively costly relative to incomes at the metro level, which can sustain multifamily demand and aid lease retention for well-run properties that offer value relative to new construction.
- Renter-heavy neighborhood provides depth for leasing and renewals.
- 1973 vintage is newer than much of the nearby stock, with clear value-add and modernization angles.
- Everyday amenities (grocery, pharmacy, parks) support livability and tenant retention.
- 3-mile population and household growth signal a larger renter pool to support stabilized occupancy.
- Risks: neighborhood occupancy is modest; cafés/childcare are limited—execution and finish quality are important to outperform.