| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Poor |
| Demographics | 21st | Poor |
| Amenities | 27th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2000 S Main St, Belle Glade, FL, 33430, US |
| Region / Metro | Belle Glade |
| Year of Construction | 1989 |
| Units | 48 |
| Transaction Date | 2005-03-01 |
| Transaction Price | $9,500,000 |
| Buyer | PALM GLADE LLC |
| Seller | YTECH 384 UNITS BELLE GLADE INVESTMENTS |
2000 S Main St Belle Glade 48-Unit Multifamily
Steady renter demand and manageable rent-to-income dynamics in the surrounding area point to durable cash flow potential, according to WDSuite s CRE market data. Majority renter-occupied housing within a 3-mile radius supports a deeper tenant base and pragmatic lease-up expectations.
Neighborhood fundamentals indicate practical, workforce-oriented appeal. Area rents are positioned as relatively accessible versus broader metro trends, which can support retention and reduce turnover risk, while neighborhood occupancy has remained around the low-90s with modest improvement in recent years, based on commercial real estate analysis from WDSuite.
The property s 1989 vintage is newer than the neighborhood s average construction year, which may provide a competitive edge versus older stock; however, investors should plan for targeted modernization and systems updates to sustain positioning.
Within a 3-mile radius, demographics show a broad renter pool and larger average household sizes, contributing to stable multifamily demand. Forward-looking data indicates population contraction alongside an increase in households and smaller household sizes, implying a shift toward more, smaller households entering the renter market a dynamic that can support occupancy but puts a premium on efficient unit mixes.
Local amenities are limited compared with core metro neighborhoods, and public school ratings trend below national norms, which may necessitate value-add strategies focused on on-site services and community features. Home values remain on the lower side for the region, which can introduce some competition from ownership options; even so, accessible ownership costs often coexist with steady rental demand when properties offer convenience, quality management, and predictable costs.
Safety indicators are mixed. The neighborhood tracks around the metro middle when ranked against 319 West Palm Beach-Boca Raton-Boynton Beach neighborhoods, while national comparisons place the area modestly above average for safety overall. Recent data also shows a notable decline in violent incidents year over year, suggesting an improving trend, according to WDSuite.
For underwriting, this pattern typically supports stable operations with standard security measures and community engagement programs; investors should continue to monitor year-to-year variability at the neighborhood level.
Regional employment is anchored by healthcare, distribution, financial services, and corporate headquarters within commuting range, supporting workforce renter demand and lease retention for Belle Glade assets. The list below reflects nearby employers relevant to the tenant base.
- Tenet Healthcare Corporation, Florida Region healthcare services (35.0 miles)
- Sysco Southeast Florida food distribution (37.2 miles)
- Siegel Financial Group - Northwestern Mutual financial services (38.0 miles)
- Office Depot corporate offices (38.9 miles) HQ
- NextEra Energy energy & corporate HQ (40.4 miles) HQ
This 48-unit, 1989-vintage asset in Belle Glade presents a straightforward workforce housing thesis. Neighborhood occupancy has held near the low-90s with gradual improvement, and the surrounding 3-mile area skews renter-occupied, supporting depth of tenant demand and pragmatic lease-up. According to CRE market data from WDSuite, area rents remain relatively accessible, helping sustain retention while allowing targeted upgrades to capture incremental rent.
Being newer than the neighborhood s average vintage, the property can compete well against older stock; measured capital planning for interior refreshes and building systems can enhance durability and curb appeal. Forward-looking demographics point to fewer people but more households and smaller household sizes, suggesting a shifting renter profile where efficient floor plans and value-add amenities matter. Key risks include limited nearby amenities and school quality, plus commute distances to major job centers, which should be reflected in operations and marketing.
- Stable neighborhood occupancy and a broad renter pool support consistent tenancy
- 1989 vintage offers competitive positioning versus older area stock with targeted modernization upside
- Accessible rent levels aid retention and provide a platform for value-add execution
- Evolving household mix (within 3 miles) favors efficient unit layouts and community features
- Risks: amenity scarcity, lower school ratings, and longer commutes to major employers