| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Fair |
| Demographics | 21st | Poor |
| Amenities | 26th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 515 Van Buren St, Fort Myers, FL, 33916, US |
| Region / Metro | Fort Myers |
| Year of Construction | 1986 |
| Units | 70 |
| Transaction Date | 2010-08-24 |
| Transaction Price | $1,000,000 |
| Buyer | JAB WOODSIDE LLC |
| Seller | VILLAGE CAPITAL CORPORATION |
515 Van Buren St Fort Myers Multifamily Investment
Neighborhood renter demand and household growth within a 3-mile radius support stable leasing prospects, according to WDSuite’s CRE market data. The property’s positioning in Fort Myers offers practical exposure to an inner-suburb tenant base with competitive occupancy at the neighborhood level.
Located in Fort Myers’ inner-suburb fabric, the neighborhood shows competitive among Cape Coral–Fort Myers neighborhoods occupancy performance (neighborhood occupancy is measured for the neighborhood, not the property) with a rank of 54 out of 211. Grocery access is a relative strength (84th percentile nationally), while parks, pharmacies, and cafes are sparse locally, suggesting residents rely on broader trade areas for certain conveniences, based on CRE market data from WDSuite.
Vintage positioning matters: the asset was built in 1986, newer than the neighborhood’s average 1968 stock. That typically supports competitive standing versus older properties while still warranting planning for aging systems or select modernization to meet current renter expectations—an angle that can enhance value-add execution.
Tenure dynamics point to a meaningful renter base. At the neighborhood level, the share of housing units that are renter-occupied ranks in the upper tier locally (36.9% with a metro rank of 28 out of 211), implying depth for multifamily demand. Within a 3-mile radius, renters account for roughly half of occupied housing today and are projected to become the majority by 2028, indicating a larger tenant pool and support for occupancy stability.
Demographic indicators within a 3-mile radius show modest population growth to date with a notable projected increase in households by 2028 and a gradual decline in average household size. For investors, that typically translates to more lease-up opportunities and steady turnover management as more households enter the rental market. Home values in the neighborhood are in a higher national percentile relative to incomes (value-to-income ratio around the 75th percentile), reinforcing reliance on rental housing, while rent-to-income measures skew favorable for retention risk management.
Amenities are mixed: restaurants index well (around the 74th percentile nationally), but limited parks, pharmacies, and cafés within the immediate area may keep residents oriented to nearby corridors for daily needs. For multifamily operators, this places emphasis on on-site features and service quality to support lease retention.
Safety signals are mixed and best viewed comparatively. Neighborhood crime overall trends modestly better than the national middle (around the 56th percentile nationwide), according to WDSuite. Property-related offenses show improvement with a strong year-over-year decline, placing the area in a comparatively better national position for that category. In contrast, violent offense trends worsened over the last year and sit closer to the national middle, underscoring the value of diligent property-level security and lighting practices.
Within the Cape Coral–Fort Myers metro, the neighborhood’s rank-based readings indicate neither an outlier on the safe nor unsafe end when translated into quartiles. Investors should underwrite routine safety measures and monitor local trendlines rather than assuming block-level outcomes.
Regional employment is anchored by corporate services accessible by car, supporting workforce housing demand and commute convenience for residents. The following nearby employer reflects that base.
- Hertz Global Holdings — car rental corporate HQ (17.2 miles) — HQ
This 70-unit asset built in 1986 offers a practical value-add and cash-flow narrative in an inner-suburb Fort Myers location. Neighborhood occupancy performance is competitive among metro peers, and the renter-occupied share locally plus a projected increase in renters within a 3-mile radius point to a deeper tenant base. Elevated ownership costs relative to incomes in the neighborhood sustain reliance on rental housing, while rent-to-income readings suggest manageable affordability pressure—factors that can aid lease retention.
According to CRE market data from WDSuite, amenities skew toward restaurants and groceries, while limited parks, cafés, and pharmacies elevate the importance of on-site experience. Relative to the area’s older 1960s housing stock, a 1986 vintage can be positioned competitively with targeted system upgrades and common-area improvements to capture demand and support pricing.
- Competitive neighborhood occupancy supports leasing stability versus metro peers
- Expanding renter pool within 3 miles underpins demand and lease-up prospects
- 1986 vintage provides value-add leverage against older local stock
- Ownership costs vs. income favor multifamily reliance; rents appear manageable for retention
- Risks: mixed safety trendline and limited nearby amenities require operator focus on security and on-site services