| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Poor |
| Demographics | 27th | Poor |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3800 Central Ave, Fort Myers, FL, 33901, US |
| Region / Metro | Fort Myers |
| Year of Construction | 1987 |
| Units | 24 |
| Transaction Date | 2005-02-28 |
| Transaction Price | $18,525,000 |
| Buyer | PARK AT VENETO OWNER FL LLC |
| Seller | REFLECTIONS PROPERTY HOLDINGS LLC |
3800 Central Ave Fort Myers Multifamily Investment Outlook
Renter concentration and strong daily-needs amenities support demand even as neighborhood occupancy trends run softer, according to WDSuite’s CRE market data.
Located at 3800 Central Ave in Fort Myers, this Inner Suburb neighborhood carries a B rating and ranks 99 out of 211 within the Cape Coral–Fort Myers metro, placing it above the metro median. Daily-needs access is a key strength: groceries and pharmacies rank among the very best in the metro (ranks 1 and 2 of 211), and restaurant density is robust (rank 3 of 211), placing the area in the top quartile nationally for food-and-beverage access. Café options are also competitive in the metro (rank 19 of 211). The notable drawback is limited park access within the neighborhood (rank 211 of 211), which may factor into resident lifestyle preferences.
From a rental housing perspective, a majority of housing units are renter-occupied, indicating a deep tenant base that can support leasing velocity and retention. However, the neighborhood’s occupancy rate trends below the metro median and sits low versus national benchmarks, suggesting operators may need to lean on concessions, amenity upgrades, or targeted marketing to sustain absorption. Median contract rents in the neighborhood track in the mid-range locally, per WDSuite.
Demographic statistics aggregated within a 3-mile radius point to population and household growth over the past five years, with further increases projected by 2028. A larger household count and a slightly smaller average household size over time translate into a larger renter pool and support for occupancy stability as new renters enter the market.
Ownership costs in the immediate neighborhood are relatively accessible compared with many U.S. locations. While this can introduce competition from entry-level ownership options, the high renter concentration and strong convenience retail footprint create a durable foundation for multifamily demand and lease retention.
Safety indicators present a mixed but generally constructive picture for investors. Within the Cape Coral–Fort Myers metro, this neighborhood ranks closer to the higher-crime end of the spectrum (ranked 32 out of 211, where lower rank indicates more crime). In national comparisons, however, WDSuite data places the neighborhood in the top quartile for safety, reflecting stronger relative standing versus many neighborhoods nationwide. Recent year-over-year trends show declines in violent incidents and a modest pullback in property offenses, which, if sustained, can support resident retention and leasing stability.
Regional employment access is anchored by corporate services within commuting range, supporting workforce housing demand and lease retention for nearby multifamily. The list below highlights a key employer within a typical commute shed.
- Hertz Global Holdings — car rental (13.4 miles) — HQ
Built in 1987, the property offers potential value-add and modernization opportunities that can improve competitive positioning against older local stock. Neighborhood fundamentals point to a large renter base and strong amenity access, while softer occupancy suggests the need for hands-on asset management to drive lease-up and retention. Based on CRE market data from WDSuite, national safety comparisons and 3-mile demographic growth support a longer-term demand thesis even as near-term leasing may require sharper pricing and targeted improvements.
The surrounding 3-mile area shows population and household growth with projections for continued renter pool expansion through 2028, reinforcing demand depth. Ownership remains relatively accessible locally, which can compete with rentals, but the area’s renter-occupied profile and convenience-driven location should help sustain tenant interest as operators execute value-add or repositioning strategies.
- 1987 vintage supports value-add and modernization to enhance competitiveness
- Large renter base and strong grocery/pharmacy access bolster leasing durability
- 3-mile population and household growth underpin long-term demand and occupancy stability
- National safety positioning compares favorably, aiding resident retention
- Risk: neighborhood occupancy trends below metro median and limited park access may require concessions or amenity upgrades