| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Fair |
| Demographics | 47th | Fair |
| Amenities | 54th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 105 Wright Pkwy SW, Fort Walton Beach, FL, 32548, US |
| Region / Metro | Fort Walton Beach |
| Year of Construction | 1975 |
| Units | 100 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
105 Wright Pkwy SW Value-Add Multifamily, Fort Walton Beach
1975 vintage and 100 units position this asset for renovations in a suburban location where the neighborhood s renter concentration supports demand, according to WDSuite s CRE market data.
Amenity access is a relative strength at the neighborhood level: grocery, parks, and restaurant density place the area in the top quartile among 86 metro neighborhoods, while cafes and pharmacies are limited. For investors, this mix supports daily convenience and leasing appeal, with some room for targeted service-oriented retail to deepen the amenity base.
Neighborhood rent levels and incomes indicate manageable rent-to-income ratios, which can aid retention and pricing discipline. Median home values are elevated for the region, reinforcing reliance on multifamily rentals rather than ownership, a supportive backdrop for lease-up and renewal strategies based on commercial real estate analysis from WDSuite.
Occupancy at the neighborhood level trails most of the metro and sits in a lower national percentile, signaling that operational execution and product differentiation matter. However, the renter-occupied share is above the metro median (ranked competitively among 86 neighborhoods), suggesting a sufficiently deep tenant base for workforce-oriented product.
Within a 3-mile radius, population and household counts have been broadly stable in recent years, with forecasts pointing to growth over the next five years. This expected increase in households expands the local renter pool and can support occupancy stabilization for well-positioned communities.
The property s 1975 construction predates the neighborhood s average vintage. Investors should underwrite near-term capital planning and consider value-add upgrades to improve competitive standing versus newer stock while capturing potential rent lift.
Comparable crime data for this neighborhood are not available in the current dataset. Investors typically benchmark conditions against metro and city trends and consult local public sources for recent patterns to inform operating assumptions and risk-adjusted underwriting.
This 100-unit, 1975-vintage community offers clear value-add potential in a suburban Fort Walton Beach neighborhood where daily-need amenities are strong and the renter base is meaningful. Neighborhood occupancy trends run softer than the metro, but manageable rent-to-income dynamics and a growing 3-mile household count point to a path for stabilization through upgrades and disciplined operations, based on CRE market data from WDSuite.
Older physical plant implies near-term capital needs, yet it also creates an opportunity to reposition units and common areas to compete more effectively against newer supply. With neighborhood home values relatively high for the area, renters are likely to continue relying on multifamily, supporting demand depth and renewal potential for well-executed renovations.
- Amenity access (grocery, parks, restaurants) ranks in the top quartile among 86 metro neighborhoods, supporting leasing appeal.
- Renter-occupied share sits above the metro median, indicating a solid tenant base for workforce housing.
- Forecast growth in households within 3 miles expands the renter pool and supports occupancy stabilization for renovated product.
- 1975 vintage creates value-add and operational upside through targeted unit and systems upgrades.
- Risk: Neighborhood occupancy trends are below metro norms; business plan should emphasize differentiation, leasing execution, and prudent rent setting.