| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Poor |
| Demographics | 54th | Good |
| Amenities | 30th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1116 N Pine St, Clearwater, FL, 33756, US |
| Region / Metro | Clearwater |
| Year of Construction | 1988 |
| Units | 26 |
| Transaction Date | 2005-11-30 |
| Transaction Price | $1,450,000 |
| Buyer | VRANICA ISA |
| Seller | STANTON MAURICE FREDERICK |
1116 N Pine St, Clearwater 26-Unit Multifamily Investment
Neighborhood renter demand is supported by a high renter-occupied share and proximity to daily-needs retail, according to WDSuite’s CRE market data, though lease management may matter given softer neighborhood occupancy. Forward-looking household growth within 3 miles points to a larger tenant base over the medium term.
This Inner Suburb location in Clearwater sits in a neighborhood rated C+ among 710 metro neighborhoods, with livability anchored by strong daily-needs access. Grocery options are a clear strength — the area ranks 38th of 710 locally and in the top quartile nationally for grocery density — and restaurants test well above national medians. By contrast, nearby parks, cafes, childcare, and pharmacies are limited within the immediate neighborhood.
Multifamily fundamentals at the neighborhood level show a sizable renter base: approximately 59.5% of housing units are renter-occupied, which supports depth of demand for smaller-format apartments. However, the neighborhood’s overall housing occupancy reads softer than the metro median, suggesting that active leasing and retention practices may be important to stabilize performance at the property level.
Within a 3-mile radius, demographics indicate steady tailwinds for renter demand. Population has grown recently and is projected to expand by roughly 10% over the next five years, with households expected to increase by about one-third — dynamics that can translate into a larger tenant pool and support occupancy stability. Income levels are rising in this radius as well, which can underpin effective rent collections even as pricing adjusts.
Ownership costs in the neighborhood sit around national mid-range levels, which can sustain renter reliance on multifamily housing without creating outsized pricing power. Average school ratings trend below metro norms, which may temper appeal for family renters, but the strong grocery and restaurant access and convenient reach to major employment centers across the Tampa–St. Petersburg–Clearwater region remain constructive for leasing.
Safety indicators for the neighborhood are below the national median, and the area sits in the lower tier when compared with the 710 neighborhoods across the Tampa–St. Petersburg–Clearwater metro. National comparisons place the neighborhood around the lower third for overall crime, signaling that investors should underwrite security measures and tenant screening accordingly.
Recent trends are mixed: estimated violent offenses show a year-over-year decline, while property offenses increased over the same period, according to WDSuite’s CRE market data. The directional improvement in violent incidents is encouraging, but overall positioning still calls for prudent operating practices such as lighting, access control, and community engagement.
Nearby employment nodes feature technology distribution, financial services, electronics manufacturing, and healthcare administrative offices that broaden the commuter tenant base and support retention. The most relevant anchors include Tech Data, Raymond James Financial, Jabil, Wellcare Health Plans, and Cardinal Health.
- Tech Data — technology distribution (5.8 miles) — HQ
- Raymond James Financial — financial services (9.0 miles) — HQ
- Jabil Circuit — electronics manufacturing (10.8 miles) — HQ
- Wellcare Health Plans — healthcare services (15.6 miles) — HQ
- Cardinal Health — healthcare distribution (26.8 miles)
This 26-unit Clearwater asset offers exposure to a renter-heavy neighborhood with strong access to daily necessities and proximity to diversified employment corridors. Within a 3-mile radius, population growth and a projected increase in households suggest a larger tenant base ahead, which can support occupancy stability and consistent leasing. Neighborhood ownership costs are mid-range, reinforcing steady rental demand without over-reliance on outsized rent bumps.
Operationally, investors should plan for hands-on leasing given softer neighborhood-level housing occupancy and below-median school ratings, while leveraging the demand depth tied to nearby employers. According to CRE market data from WDSuite, the location’s grocery and restaurant density outperforms national norms, adding day-to-day convenience that can aid retention.
- Renter-heavy neighborhood and expanding 3-mile household base support demand and occupancy stability
- Strong grocery and restaurant access adds daily convenience that can aid leasing and renewals
- Proximity to major employers across technology, finance, and healthcare broadens the commuter tenant pool
- Risk: softer neighborhood housing occupancy and below-median school ratings require active leasing and resident retention strategies