| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Fair |
| Demographics | 34th | Poor |
| Amenities | 44th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1200 S Broadway, Lantana, FL, 33462, US |
| Region / Metro | Lantana |
| Year of Construction | 1972 |
| Units | 26 |
| Transaction Date | 2018-03-14 |
| Transaction Price | $2,223,690 |
| Buyer | 1200 & 1400 BRAODWAY LLC |
| Seller | BROADWAY GARDENS INC |
1200 S Broadway, Lantana FL Multifamily Investment
Steady renter demand supported by a growing 3-mile household base and a high-cost ownership landscape positions this asset for durable leasing, according to WDSuite’s CRE market data.
Located in Lantana’s inner-suburban fabric of the West Palm Beach–Boca Raton–Boynton Beach metro, the property benefits from everyday conveniences and coastal proximity. Neighborhood amenities skew practical: grocery access is strong (high national percentile), restaurants are plentiful, and parks are accessible, while cafes and pharmacies are sparse. Within the metro context (319 neighborhoods), amenity access is competitive rather than best-in-class, offering functional livability for workforce renters.
Renter demand is underpinned by a meaningful tenant base: within a 3-mile radius, an estimated 42.2% of housing units are renter-occupied, indicating a moderate renter concentration that supports leasing depth and renewal prospects. Over the past five years, 3-mile population and households expanded, with households growing faster than population, pointing to more, smaller households and a broader pool of prospective renters. Forward-looking projections call for continued population and household growth, which should help support occupancy stability and absorption.
Pricing dynamics also favor rentals. Neighborhood home values sit in a higher national percentile, and the value-to-income ratio ranks elevated across the metro, signaling a high-cost ownership market that tends to sustain reliance on multifamily housing. At the same time, neighborhood rent-to-income is around the national mid-range, suggesting manageable affordability pressure that can aid retention and reduce turnover risk for well-operated assets.
Operationally, neighborhood occupancy is near the national mid-range, indicating neither pronounced slack nor tightness. School ratings in the area score below national norms, which may temper appeal to some family renters; however, the strong grocery/restaurant access and employment reach help balance everyday livability. These dynamics collectively point to durable, needs-based demand with room for asset-level differentiation via management and amenity upgrades.
Safety indicators trend favorable in national comparisons, with neighborhood-level measures landing in high national percentiles. Recent data also shows notable year-over-year improvement in both property and violent offense estimates, according to WDSuite’s CRE market data. While conditions can vary within small geographies and over time, the directional trend supports renter confidence and lease retention relative to many U.S. neighborhoods.
Investors should continue to monitor local trends and management practices that reinforce on-site safety, recognizing that neighborhood statistics reflect broader area conditions rather than block-level or property-specific outcomes.
The location draws on a diversified employment base spanning financial services, distribution, healthcare, and corporate headquarters, supporting workforce housing demand and commute convenience for renters.
- Siegel Financial Group - Northwestern Mutual — financial services (9.5 miles)
- Office Depot — corporate offices (12.4 miles) — HQ
- Sysco Southeast Florida — distribution (13.4 miles)
- NextEra Energy — energy (19.6 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (23.2 miles)
This 26-unit asset sits in a needs-based renter ecosystem: grocery and restaurant access rate high nationally, household growth within 3 miles is solid, and a high-cost ownership backdrop supports multifamily reliance. Occupancy at the neighborhood level is near the national mid-range, offering room for asset-level execution to drive performance. According to CRE market data from WDSuite, rent-to-income sits around the national mid-range, which supports retention while allowing measured pricing power when paired with targeted upgrades.
Forward-looking 3-mile projections indicate continued population and household expansion, reinforcing tenant-base growth. While school ratings trail national norms and select amenities (cafes, pharmacies) are limited, the area’s employment reach, practical retail mix, and elevated ownership costs point to durable renter demand and stable leasing fundamentals for professionally managed multifamily.
- Household and population growth within 3 miles expands the renter pool and supports occupancy stability.
- Elevated home values and value-to-income ratios reinforce reliance on rentals, aiding demand depth and renewals.
- Strong grocery/restaurant access and diversified employment reach support day-to-day livability and leasing.
- Operational upside possible from mid-range neighborhood occupancy through management and targeted unit/amenity improvements.
- Risks: below-average school ratings and limited cafe/pharmacy presence may narrow some tenant segments and require focused marketing.