| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Fair |
| Demographics | 18th | Poor |
| Amenities | 52nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2511 Palm Ave, Fort Myers, FL, 33916, US |
| Region / Metro | Fort Myers |
| Year of Construction | 1973 |
| Units | 36 |
| Transaction Date | 2023-10-07 |
| Transaction Price | $4,200,000 |
| Buyer | MIDTOWN VILLA LLC |
| Seller | 250 ROYAL PALM LLC |
2511 Palm Ave Fort Myers Multifamily Investment
Steady renter demand and neighborhood amenity access support leasing fundamentals, according to WDSuite’s CRE market data. The asset benefits from a measurable renter base and improving occupancy trends at the neighborhood level.
Located in an Inner Suburb of Fort Myers, the neighborhood scores C+ overall and is competitive among Cape Coral–Fort Myers neighborhoods on amenities (ranked 43 of 211). Grocery access and parks test in the upper national percentiles, while cafes and pharmacies are thinner, suggesting day-to-day convenience with fewer discretionary options nearby. School ratings trail national benchmarks, so family appeal may be more value-driven than quality-driven for education.
Neighborhood occupancy is reported at 85.6% and has improved over the last five years, indicating firmer absorption even if levels remain below national medians. The share of housing units that are renter-occupied in the neighborhood is 46.2%, signaling a meaningful but not dominant renter concentration that supports multifamily demand without oversaturation.
Within a 3-mile radius, demographics indicate population growth of 8.7% over the prior period and households up 14.2%, with forecasts pointing to further renter pool expansion through 2028. The 3-mile area shows a renter-occupied share of roughly 61%, reinforcing depth of tenant base and supporting occupancy stability for smaller units. Rising household incomes in the 3-mile radius alongside higher median contract rents point to continued leasing viability, though lease management should watch for affordability pressure.
Compared with metro and national CRE trends, the area presents a mixed but investable profile: above-median amenity access for essentials, improving neighborhood occupancy, and a broader 3-mile catchment that is growing and skewed toward renters. Elevated home value-to-income ratios at the neighborhood level suggest a high-cost ownership market that can sustain rental demand and support retention.
Safety indicators are comparatively favorable in a national context. According to WDSuite’s data, the neighborhood sits in the top quartile nationally for overall safety, with property offense levels benchmarking strong and violent offense rates also comparing well versus U.S. neighborhoods. Recent year-over-year declines in both violent and property offenses further support the directional trend. As always, conditions vary within small geographies, so investors should consider property-level measures and block-by-block diligence.
Within the Cape Coral–Fort Myers metro (211 neighborhoods), this area performs above the metro median on several safety metrics, translating to potentially steadier operations and tenant retention relative to metro peers. Use these signals as context rather than guarantees, and pair them with onsite security practices and resident screening to manage risk.
Regional employment is supported by nearby corporate offices, with commute times suitable for workforce renters. The list below highlights a key corporate node that can underpin leasing demand.
- Hertz Global Holdings — corporate headquarters (15.0 miles) — HQ
This 36-unit asset benefits from an Inner Suburb location with improving neighborhood occupancy and a broader 3-mile catchment showing population and household growth, translating to a larger tenant base over the medium term. Essential amenity access is solid, while ownership costs in the neighborhood are elevated relative to incomes, which tends to reinforce renter reliance on multifamily housing and can aid retention. According to CRE market data from WDSuite, neighborhood safety benchmarks favorably in national comparisons, supporting operational stability.
Investor considerations include affordability pressure relative to incomes and thinner discretionary amenities (cafes, pharmacies) that may temper top-end rent growth. The unit mix skews smaller on average, which can align with workforce and value-focused demand segments if pricing remains disciplined.
- Improving neighborhood occupancy with a sizable renter base in the 3-mile area supports leasing durability
- Essential amenity access (grocery, parks) compares well, aiding day-to-day livability
- High-cost ownership context underpins demand for rental housing and can support retention
- Favorable safety benchmarks nationally can reduce operational volatility
- Risks: affordability pressure vs. incomes and thinner discretionary amenities may limit pricing power