| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Best |
| Demographics | 37th | Poor |
| Amenities | 46th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 101 Island Shores Dr, Greenacres, FL, 33413, US |
| Region / Metro | Greenacres |
| Year of Construction | 1989 |
| Units | 32 |
| Transaction Date | 1995-05-18 |
| Transaction Price | $19,200,000 |
| Buyer | KEYSTONE WEST PALM BCH PROP HOLDING CORP |
| Seller | STONEMARK APT I LTD |
101 Island Shores Dr Greenacres Multifamily Investment
Renter demand appears durable given a sizable renter-occupied housing base in the neighborhood and a high-cost ownership landscape, according to WDSuite’s CRE market data. Expect steady leasing interest supported by proximity to employment across greater West Palm Beach.
The property sits in an Inner Suburb of the West Palm Beach–Boca Raton–Boynton Beach metro, with a neighborhood rating of B- (ranked 177 out of 319 metro neighborhoods). That places it roughly mid-pack locally, with livability supported by everyday services and strong park access.
Amenities skew toward outdoor and daily-needs convenience: park density ranks in the higher tiers nationally (around the 86th percentile), restaurants are moderate (mid-60s percentile), and groceries are serviceable (low-50s percentile). Cafés and childcare are thinner in the immediate area, so residents likely rely on nearby corridors for those uses.
For multifamily fundamentals, neighborhood multifamily occupancy is around the high-80% range, and the renter-occupied housing share sits near 44% (above most U.S. neighborhoods). Together, these indicators point to a meaningful tenant base and generally stable leasing conditions rather than dependence on a narrow renter pool.
Home values trend above many U.S. neighborhoods (about the 73rd percentile), and the value-to-income ratio is also elevated. In practice, this high-cost ownership market can reinforce renter reliance on multifamily housing and support pricing power, though it warrants attentive lease management around affordability.
Within a 3-mile radius, population has grown modestly in recent years, with households up and average household size edging lower. Projections call for further population and household growth over the next five years, suggesting a gradually expanding renter pool that can support occupancy stability and measured rent performance.
Safety indicators are mixed relative to regional and national benchmarks. At the metro level, the neighborhood sits in the lower half for crime (ranked 261 out of 319 neighborhoods), while national comparisons point to comparatively better standing on several measures: estimated violent offense rates align with a stronger national position (around the upper-third percentile), and property offense indicators sit modestly above national averages.
Recent year-over-year estimates show increases in both violent and property offense categories, underscoring the importance of ongoing monitoring and standard property-level measures (lighting, access control, and resident screening). Investors should evaluate trendlines over multi-year periods and compare them with nearby submarkets for context.
Nearby employers span finance, food distribution, healthcare administration, and corporate headquarters, supporting a diversified commuter base that can aid tenant retention and steady leasing. The list below reflects key names within typical commuting distance that often underpin workforce housing demand in this part of Palm Beach County.
- Siegel Financial Group - Northwestern Mutual — financial services (7.3 miles)
- Sysco Southeast Florida — food distribution (9.8 miles)
- Office Depot — corporate offices (16.1 miles) — HQ
- NextEra Energy — energy & corporate offices (16.3 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (24.4 miles)
Positioned in an Inner Suburb with a meaningful renter base, 101 Island Shores Dr benefits from steady neighborhood leasing fundamentals and a high-cost ownership backdrop that tends to sustain multifamily demand. Median asking rents in the neighborhood rank higher than many U.S. areas, and, according to CRE market data from WDSuite, a sizable share of local housing units are renter-occupied — factors that can underpin occupancy stability when managed thoughtfully.
Within a 3-mile radius, recent population and household gains — with forecasts calling for further growth — point to a gradually expanding tenant base. Investors should balance pricing power against household budget sensitivity (rent-to-income ratios suggest some affordability pressure) and monitor safety trendlines, while leveraging proximity to diversified employers across West Palm Beach for retention.
- Meaningful renter-occupied housing base supports depth of demand and occupancy stability
- Elevated ownership costs locally reinforce reliance on rentals and potential pricing power
- 3-mile population and household growth outlook expands the renter pool over time
- Access to diversified employment centers aids leasing and retention
- Risks: affordability pressure (rent-to-income) and mixed, evolving safety indicators warrant active management