| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Good |
| Demographics | 45th | Fair |
| Amenities | 54th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8825 Lazy River Loop, New Port Richey, FL, 34655, US |
| Region / Metro | New Port Richey |
| Year of Construction | 2008 |
| Units | 45 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
8825 Lazy River Loop New Port Richey Multifamily
2008-vintage, 45-unit asset in an inner-suburban pocket showing steady neighborhood occupancy and rising household counts, according to WDSuite’s CRE market data. The newer construction relative to local stock supports competitive positioning and manageable capital planning.
Positioned in the Tampa–St. Petersburg–Clearwater metro, the neighborhood surrounding 8825 Lazy River Loop carries a B rating and ranks 300 out of 710 metro neighborhoods — above the metro median. Amenity access is a relative strength: cafes and grocery stores index well compared with areas nationwide, while restaurants are also plentiful. By contrast, park space and childcare options are lighter, which may temper some family-oriented appeal.
Neighborhood occupancy is 90.4% (neighborhood metric, not the property) with a five‑year improvement, signaling demand resilience for multifamily leasing. The renter-occupied share sits around 28% of housing units, indicating a mixed-tenure area with a stable but not oversupplied renter base — a backdrop that can support retention and measured rent growth. Average school ratings trend below national medians, so operators may emphasize convenience, amenity access, and value positioning over school-driven demand in marketing strategy.
Within a 3‑mile radius, population and households have increased and are forecast to expand further by 2028, pointing to a larger tenant base and potential support for occupancy stability over time. Home values are moderate for the region and, coupled with a rent-to-income profile that reads as manageable, suggest renters may prioritize multifamily for convenience and flexibility rather than necessity. These takeaways are grounded in commercial real estate analysis using WDSuite data and are intended as neighborhood context, not property-level performance.
Safety conditions are best evaluated comparatively and over time. Current neighborhood‑level crime metrics are not available in WDSuite’s dataset for this location, so investors should benchmark city and county trend lines alongside on‑the‑ground property management insights and lender diligence. Use safety context as one of several risk screens in tandem with leasing trends and tenant profile.
Commuter access to major corporate employers helps deepen the renter pool and support leasing stability. Notable nearby employment hubs include financial services and healthcare, as well as distribution and technology firms listed below.
- Raymond James — financial services (13.1 miles)
- Wellcare Health Plans — healthcare services (14.5 miles) — HQ
- MetLife Insurance Company — insurance (18.9 miles)
- Tech Data — technology distribution (20.7 miles) — HQ
- Raymond James Financial — financial services (22.6 miles) — HQ
Built in 2008, this 45‑unit asset is newer than the neighborhood’s average vintage, offering competitive positioning versus older stock and a clearer path to targeted value‑add through selective modernization rather than full-system overhauls. Neighborhood occupancy of 90.4% (neighborhood metric) and recent improvement suggest stable demand, while a mixed-tenure environment (about 28% renter‑occupied units) indicates a durable but disciplined renter pool. According to CRE market data from WDSuite, amenity access is a relative strength (cafes, grocery, restaurants) even as park and childcare access are thinner — a tradeoff operators can address with on‑site programming and convenience‑focused amenities.
Within a 3‑mile radius, population and household growth — and forecasts calling for further expansion — point to a larger tenant base that can support occupancy and absorption. Moderate local home values and a manageable rent-to-income readthrough favor lease retention and measured pricing power more than rapid escalation. Key watch items include below‑average school ratings and the lighter family‑oriented infrastructure, which argue for prudent underwriting on rent growth and renewal assumptions.
- 2008 construction: competitive versus older neighborhood stock with focused value‑add potential
- Neighborhood occupancy at 90.4% with five‑year gains supports leasing stability (neighborhood metric)
- 3‑mile population and household growth expands the tenant base and supports absorption
- Amenity access (cafes, grocery, restaurants) underpins convenience‑oriented renter demand
- Risks: below‑average school ratings and limited parks/childcare warrant conservative rent and renewal underwriting