| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Best |
| Demographics | 74th | Good |
| Amenities | 50th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 803 Promenade Way, Jupiter, FL, 33458, US |
| Region / Metro | Jupiter |
| Year of Construction | 2003 |
| Units | 22 |
| Transaction Date | 2007-10-17 |
| Transaction Price | $71,000,000 |
| Buyer | HART ABACOA LLC |
| Seller | TGM ABACOA LLC |
803 Promenade Way, Jupiter FL Multifamily Investment
Positioned in an A-rated suburban neighborhood, the asset benefits from strong amenity access and high-cost homeownership that supports sustained renter demand, according to WDSuite’s CRE market data.
803 Promenade Way sits in a suburban Jupiter location rated A and ranked 21 out of 319 neighborhoods in the West Palm Beach–Boca Raton–Boynton Beach metro—competitive among metro peers and solidly in the top quartile nationally. Amenity access is a local strength: restaurants and cafes index in the low-80s national percentiles, with grocery, parks, and pharmacies in the mid-to-high 70s. For investors, these characteristics tend to support leasing velocity and day-to-day livability.
Neighborhood housing occupancy is measured for the neighborhood—not the property—and stands below national norms, suggesting some variability in lease-up conditions. At the same time, renter concentration is measured as the share of units that are renter-occupied and sits above the national midpoint, indicating a meaningful tenant base for multifamily. Median rent levels in the neighborhood are elevated versus the nation, while the rent-to-income ratio near 23% points to manageable affordability pressure that can aid retention and measured pricing power.
Within a 3-mile radius, demographics show steady population growth in recent years and a larger increase in households, with projections calling for additional household expansion alongside smaller average household sizes. This combination typically broadens the renter pool and can support occupancy stability. High-cost ownership (home values well above national medians and a value-to-income ratio in the upper national quartiles) reinforces reliance on rental housing, which can benefit well-maintained multifamily assets.
Compared with metro and national CRE trends, the area’s income profile is strong—household income levels benchmark in the upper national percentiles—aligning with demand for quality units and supporting collections. Amenity depth and suburban positioning provide a balanced setup for workforce and professional renters seeking commute convenience to northern Palm Beach County employers.
Safety indicators are mixed relative to peers. The neighborhood’s crime ranking sits below the safer tier metro-wide (ranked 234 among 319 metro neighborhoods), and safety performance is around the mid-40s percentile nationally—slightly below the U.S. median. For investors, this suggests a need for attentive property operations (lighting, access control, and resident engagement) to support resident comfort and retention.
Recent trends are noteworthy: estimated property offenses declined roughly 10% year over year, while violent offense rates were essentially flat. These directional shifts, measured at the neighborhood level, point to stability rather than rapid change; investors should underwrite to current conditions and monitor trend continuity over the hold period.
Proximity to established employers in northern Palm Beach County underpins local renter demand and supports retention via commute convenience. Notable nearby employers include energy, distribution, financial services, office retail, and healthcare administration.
- NextEra Energy — energy (3.9 miles) — HQ
- Sysco Southeast Florida — food distribution (8.8 miles)
- Siegel Financial Group - Northwestern Mutual — financial services (12.8 miles)
- Office Depot — office retail HQ & corporate (33.7 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (42.0 miles)
Situated in a top-ranked Jupiter neighborhood with strong amenities and an income profile in the upper national percentiles, the property is aligned with renter households that value convenience and quality. High-cost homeownership in the area sustains reliance on rentals, and, according to CRE market data from WDSuite, neighborhood rent levels and rent-to-income dynamics point to a tenant base with capacity for steady renewals rather than outsized concessions.
Investor considerations include neighborhood-level housing occupancy that trails national norms and safety metrics that are slightly below the U.S. median. These are manageable with prudent operations and value-focused unit positioning. Demographic trends within a 3-mile radius—rising household counts and a forecast for continued household growth alongside smaller household sizes—support a larger renter pool and prospective demand resilience over a long-term hold.
- A-rated, top-quartile neighborhood with strong amenity access supporting leasing velocity
- High-cost ownership market reinforces rental demand and supports retention strategy
- Upper-percentile household incomes indicate depth for quality multifamily product
- 3-mile household growth and smaller household sizes expand the renter pool
- Risks: below-national-median safety and softer neighborhood occupancy require active management