| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 29th | Poor |
| Demographics | 41st | Poor |
| Amenities | 28th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4507 9th St W, Bradenton, FL, 34207, US |
| Region / Metro | Bradenton |
| Year of Construction | 1973 |
| Units | 84 |
| Transaction Date | 2007-11-30 |
| Transaction Price | $6,200,000 |
| Buyer | 4507 9TH STREET WEST PCPRE LLC |
| Seller | CORTEZ INVESTORS 1 LLC |
4507 9th St W Bradenton Multifamily Investment
Neighborhood fundamentals point to steady renter demand supported by moderate rent levels relative to incomes, according to WDSuite’s CRE market data. Focus is on positioning for leasing stability amid a submarket where occupancy is measured for the neighborhood and not the property.
Situated in Bradenton’s inner-suburban fabric, the property benefits from everyday conveniences and dining density that outperforms national norms. Restaurant access ranks in the top decile nationally, and grocery availability is in the top quartile, while parks, pharmacies, and cafes are limited within the neighborhood. This mix favors workforce renters who prioritize proximity to services over recreational amenities, based on CRE market data from WDSuite.
At the neighborhood level, occupancy is below the metro median and has softened in recent periods. For investors, that underscores the importance of disciplined leasing and asset differentiation to capture share. By contrast, within a 3-mile radius, roughly 40% of housing units are renter-occupied, indicating a sizable tenant pool that can support absorption and renewals when product is well-positioned.
Demographics aggregated within a 3-mile radius show household counts rising even as average household size trends lower. This points to a broadening renter base and supports future demand for smaller formats and well-finished units. Forecasts indicate population growth and a meaningful increase in households by 2028, which typically supports occupancy stability and lease-up velocity when combined with effective management.
Home values in the neighborhood remain relatively low compared with national benchmarks. In practice, a more accessible ownership market can introduce competition for some renter cohorts, so pricing and finish need to be calibrated carefully. Rent-to-income levels trend moderate for the area, which can aid retention and reduce turnover risk when renewal strategies are thoughtfully executed.
Safety trends should be viewed in a metro and national context. The neighborhood’s crime measures rank in the lower tier among 218 North Port–Sarasota–Bradenton neighborhoods and sit below national averages, indicating higher reported incident levels than many peer areas. Recent year-over-year readings show upticks in both property and violent offenses, so investors typically underwrite added security, lighting, and community engagement to support resident comfort and retention.
While individual blocks can vary, a prudent approach is to align capital plans and on-site management with the broader area’s trend rather than isolated snapshots. Comparisons should emphasize property-level prevention and partnerships with local resources to help sustain leasing and stabilize operations over time.
Nearby employment includes industrial supplies, electronics manufacturing services, finance, healthcare distribution, and IT distribution, supporting a diverse renter base and practical commute options for workforce housing.
- Airgas Store — corporate office (4.1 miles)
- Jabil Circuit — electronics manufacturing services (28.5 miles)
- Raymond James Financial — financial services (30.0 miles) — HQ
- Cardinal Health — healthcare distribution (31.9 miles)
- Tech Data — IT distribution (32.6 miles) — HQ
This 84-unit, mid-70s asset offers a straightforward value-add path in a neighborhood with strong dining and grocery access but softer occupancy at the neighborhood level. Constructed in 1973, the property likely benefits from durable layouts yet may require targeted capital for systems, exteriors, and interiors to sharpen competitive positioning against newer stock. According to WDSuite’s commercial real estate analysis, the surrounding 3-mile area shows a sizable renter pool and household growth ahead, which can support absorption and renewal pricing when paired with effective operations.
Investor focus should center on operational execution: calibrating finishes and amenities to local expectations, managing concessions through leasing cycles, and leveraging the area’s employment base for steady traffic. With moderate rent-to-income dynamics and expanding households within a 3-mile radius, there is scope to drive occupancy and revenue, while underwriting for security, maintenance, and turnover remains important given submarket conditions.
- Value-add profile: 1973 vintage with clear opportunities to modernize systems and interiors
- Demand drivers: strong dining and grocery access and a meaningful 3-mile renter base
- Forward tailwinds: 3-mile household growth supports tenant base expansion and leasing stability
- Key risks: below-metro neighborhood occupancy and area safety readings require active leasing, security, and capex planning