| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Good |
| Demographics | 85th | Best |
| Amenities | 12th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7961 Gladiolus Dr, Fort Myers, FL, 33908, US |
| Region / Metro | Fort Myers |
| Year of Construction | 1987 |
| Units | 40 |
| Transaction Date | 2012-08-31 |
| Transaction Price | $1,450,000 |
| Buyer | MAR BELLA ST MYRES LLC |
| Seller | MAR BELLA APARTMENTS LLC |
7961 Gladiolus Dr Fort Myers Multifamily Investment
Suburban Fort Myers location with rising household counts within 3 miles and an owner-leaning housing stock supports steady renter demand, according to WDSuite’s CRE market data. Vintage positioning creates a potential value-add angle where modernization can capture tenants seeking more accessible options than ownership.
The property sits in a suburban pocket of Fort Myers where neighborhood demographics score in the top quartile nationally, reflecting higher incomes and consumer spending capacity (demographics national percentile 85), based on CRE market data from WDSuite. Within a 3-mile radius, population and households have expanded and are projected to continue growing, which points to a larger tenant base over time and supports occupancy stability for well-positioned assets.
Renter-occupied housing is a smaller share locally than in more urban parts of the metro, indicating an owner-leaning area. For multifamily investors, that typically translates into a deeper pool for workforce and lifestyle renters who prefer professionally managed communities, but also more focus on targeted leasing and retention. Median contract rents in the neighborhood track above many U.S. areas while rent-to-income ratios remain comparatively low, suggesting some pricing headroom without overextending affordability for qualified tenants.
Local amenity density is thinner than core districts (limited cafes, grocery, parks per square mile), so car access matters. That said, the area benefits from suburban conveniences along key corridors, and smaller average household sizes within 3 miles signal demand for efficient floor plans and amenities that emphasize convenience and maintenance-free living. The asset’s 1987 construction is older than the neighborhood’s average 2006 vintage, pointing to potential renovation and energy-efficiency upgrades that can improve competitive positioning and support rent premiums versus older, unrenovated stock.
Neighborhood safety trends compare favorably in the Cape Coral–Fort Myers metro, with crime rank competitive among 211 neighborhoods and national percentiles indicating performance above many U.S. neighborhoods, per WDSuite. Recent year-over-year declines in both property and violent offense rates further point to improving conditions. As always, investors should underwrite to submarket-level patterns and property-specific measures rather than block-level assumptions.
Employment access is supported by nearby corporate offices that draw a diverse workforce, helping leasing and retention for renters prioritizing commute convenience. Notable employers include the following within reasonable driving distance.
- Hertz Global Holdings — car rental (8.4 miles) — HQ
7961 Gladiolus Dr offers a suburban Fort Myers location with demographics that rank strong nationally and household growth within 3 miles that expands the renter pool. The 1987 vintage is older than the area’s 2006 average, creating a clear value-add path through interior upgrades and system modernization to enhance competitiveness versus newer stock. Elevated home values in the neighborhood support sustained reliance on multifamily housing, while comparatively low rent-to-income levels indicate room for disciplined rent optimization, based on CRE market data from WDSuite.
Key considerations include thinner walkable amenities and an owner-leaning tenure profile, which place a premium on parking, access, and targeted marketing to lifestyle and downsizing renters. Underwriting should budget for capital planning tied to vintage, but the combination of demographic strength and proximity to regional employers provides a foundation for durable demand.
- Demographic strength and household growth within 3 miles support a larger tenant base and occupancy stability.
- 1987 vintage presents value-add opportunity via renovations and energy-efficiency upgrades.
- Elevated ownership costs in the neighborhood reinforce multifamily demand and lease retention potential.
- Employer access, including a nearby corporate HQ, underpins leasing from commuting households.
- Risks: owner-leaning tenure, lower amenity density, and capital expenditures associated with older construction.