| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Poor |
| Demographics | 10th | Poor |
| Amenities | 42nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2811 Central Ave, Fort Myers, FL, 33901, US |
| Region / Metro | Fort Myers |
| Year of Construction | 1982 |
| Units | 92 |
| Transaction Date | 2016-12-15 |
| Transaction Price | $2,080,000 |
| Buyer | MERIDIAN AT 2825 LLC |
| Seller | WATERSONG REALTY SERIES I LLC |
2811 Central Ave, Fort Myers Multifamily Investment
Renter-occupied housing is prevalent in the surrounding neighborhood, supporting consistent tenant demand, according to WDSuite’s CRE market data. Neighborhood occupancy trends have improved in recent years, suggesting stable leasing fundamentals for well-maintained assets.
The property sits in an Inner Suburb of Fort Myers with neighborhood metrics that point to durable renter demand. The share of housing units that are renter-occupied is among the highest nationally, indicating a deep tenant base and potential support for occupancy stability at comparable assets. Neighborhood occupancy is about 90% and has trended higher over the past five years, based on CRE market data from WDSuite.
Everyday convenience is a relative strength: grocery access and restaurant density rank competitively within the Cape Coral–Fort Myers metro, while cafés, parks, and pharmacies are less concentrated locally. For investors, this mix suggests daily-needs accessibility that supports retention, with fewer destination amenities in the immediate blocks.
Median contract rents in the neighborhood sit in the upper half of national neighborhoods, while home values are lower relative to many U.S. areas. That ownership landscape can introduce some competition from entry-level ownership, but it also helps sustain a broad renter pool; the current rent-to-income profile points to manageable affordability pressure, which favors lease retention but may temper near-term pricing power.
Vintage context matters: the asset was built in 1982, whereas the neighborhood’s average construction year skews older (1960s). Being newer than much of the nearby stock can enhance competitive positioning versus aging product, though modernization and systems updates may still be prudent to support leasing and reduce future capital surprises.
Demographic statistics aggregated within a 3-mile radius indicate population and household growth, with a rising share of higher-income brackets over time. This points to a larger tenant base and potential renter pool expansion, which can support occupancy and absorption for well-operated multifamily properties.
Neighborhood safety indicators are generally competitive within the Cape Coral–Fort Myers metro, and the area trends safer than the national median. Recent data show a meaningful year-over-year decline in estimated property offenses, while violent-offense levels sit near the national midpoint. For investors, the directional improvement in property-related incidents reduces operational risk, though ongoing monitoring remains prudent.
Regional employment is anchored by corporate roles that help support renter demand through commute accessibility. Notable nearby employer:
- Hertz Global Holdings — corporate headquarters (14.6 miles) — HQ
This 1982-vintage, 92-unit asset is positioned in a renter-heavy Fort Myers neighborhood where occupancy has improved and remains solid relative to national benchmarks. Being newer than much of the local 1960s-era stock provides a competitive edge versus older product, while modernization can further enhance leasing and operating efficiency. According to CRE market data from WDSuite, the surrounding area’s rent levels are mid-pack nationally and ownership costs are comparatively accessible, implying stable retention with measured pricing power.
Demographics aggregated within a 3-mile radius show population and household growth with rising incomes, supporting a larger tenant base over the next several years. Daily-needs amenities are convenient, and recent improvements in property-crime indicators modestly reduce operational risk, though investors should underwrite to ongoing safety monitoring and potential competition from entry-level ownership.
- High renter-occupied share in the neighborhood supports a deep tenant base and occupancy stability.
- 1982 construction is newer than much of the local stock, offering relative competitiveness with targeted upgrades.
- Mid-range neighborhood rent levels and improving occupancy favor retention and steady cash flow management.
- Risk factors: locally accessible ownership options and uneven amenity depth warrant conservative rent growth and continued safety monitoring.