| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 82nd | Best |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5800 Town Bay Dr, Boca Raton, FL, 33486, US |
| Region / Metro | Boca Raton |
| Year of Construction | 1988 |
| Units | 20 |
| Transaction Date | 2011-12-14 |
| Transaction Price | $42,050,000 |
| Buyer | ARCHSTONE BOCA RATON LP |
| Seller | FLORIDA TOWN PLACE LIMITED PARTNERSHIP |
5800 Town Bay Dr, Boca Raton Multifamily Investment
Neighborhood-level data points to a deep renter base and amenity density that support durable demand, according to WDSuite’s CRE market data. Focus is on renter-occupied share at the neighborhood level rather than the property, with stability reinforced by strong local services.
Located in Boca Raton’s inner suburb context, the area surrounding 5800 Town Bay Dr rates A+ at the neighborhood level and is competitive among West Palm Beach–Boca Raton–Boynton Beach neighborhoods. Dining access is a standout: restaurant density ranks 6th out of 319 metro neighborhoods, with cafés ranking 11th out of 319. Daily-needs access is similarly strong, with pharmacies ranking 19th and groceries 34th out of 319. This amenity profile typically supports leasing velocity and retention for workforce and lifestyle renters.
At the neighborhood level, occupancy trends are competitive among metro peers (ranked 94th out of 319) and sit around the national median, suggesting steady performance through cycles rather than outsized volatility. The surrounding housing stock averages 1986; the subject’s 1988 construction is slightly newer than the neighborhood average, which can bolster competitive positioning versus older comparables, though investors should plan for selective modernization and system updates typical of late-1980s assets.
Tenure patterns indicate a high concentration of renter-occupied housing units in the neighborhood (near the top of the metro and high nationally). For multifamily owners, this translates into a larger tenant base and ongoing demand depth, particularly when paired with the area’s service and retail concentration. Median neighborhood home values are elevated for the region, which tends to sustain rental reliance and can support pricing power, though lease management should account for resident affordability pressure.
Within a 3-mile radius, demographics show recent population and household growth with further expansion forecast, indicating a larger tenant pool over the next few years. Incomes have trended higher and are projected to rise further, while market rents increased in recent years and are expected to continue growing, based on WDSuite’s commercial real estate analysis. For investors, these trends support occupancy stability and measured rent growth potential without relying on aggressive assumptions.
Safety indicators for the neighborhood are mixed in a way investors should contextualize. Compared with the 319 neighborhoods in the West Palm Beach–Boca Raton–Boynton Beach metro, overall crime sits below the metro median (toward the weaker end at 253rd out of 319). Nationally, recent levels of violent and property offenses benchmark in higher percentiles for safety, but the year-over-year change shows some recent worsening, signaling the need for ongoing monitoring.
For underwriting, this pattern argues for conservative assumptions on security line items and resident retention strategies, while recognizing that current national percentile comparisons remain relatively favorable. Always evaluate property-level measures and recent local trends rather than extrapolating block-level conclusions from neighborhood-wide data.
The area draws on a diversified employment base that supports renter demand and commute convenience, anchored by corporate offices across retail, healthcare, automotive, financial services, and food distribution. The employers below reflect nearby demand drivers relevant to retention and leasing.
- Office Depot — retail corporate HQ (3.1 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (9.9 miles)
- AutoNation — automotive retail corporate HQ (16.6 miles) — HQ
- Siegel Financial Group - Northwestern Mutual — financial services offices (24.6 miles)
- Sysco Southeast Florida — foodservice distribution offices (28.2 miles)
This 20-unit, 1988-vintage asset benefits from a high-performing neighborhood profile marked by strong service and dining density, a large renter-occupied housing base at the neighborhood level, and competitive metro-level occupancy. Slightly newer construction than the neighborhood average (1986) aids positioning versus older comparables, though investors should plan for targeted modernization to meet current renter preferences.
Within a 3-mile radius, population and households have grown and are projected to expand further, supporting a larger tenant base and sustained leasing. Rents have moved upward and are forecast to continue rising, while elevated ownership costs in the area reinforce reliance on multifamily. According to CRE market data from WDSuite, occupancy is competitive within the metro, which, alongside strong amenities and income trends, underpins a case for durable cash flow with prudent expense and affordability management.
- Amenity-rich neighborhood with metro-top dining and daily-needs access supporting leasing and retention
- High neighborhood share of renter-occupied units indicates a deep tenant base for multifamily
- 1988 vintage offers relative competitiveness versus older stock, with value-add via selective modernization
- 3-mile population and household growth expand the renter pool, supporting occupancy stability
- Risks: elevated rent-to-income and mixed safety trends warrant conservative underwriting and active lease management