| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Best |
| Demographics | 72nd | Best |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2285 State Road 580, Clearwater, FL, 33763, US |
| Region / Metro | Clearwater |
| Year of Construction | 1984 |
| Units | 82 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2285 State Road 580 Clearwater Multifamily Investment
Neighborhood fundamentals point to steady renter demand and above-median occupancy for the area, according to CRE market data from WDSuite. The location offers amenity density and school quality that support leasing stability relative to many Tampa–St. Petersburg–Clearwater submarkets.
The property sits in Clearwater’s inner suburb with strong livability indicators and an A+ neighborhood rating. Amenity access is a relative strength: restaurant and cafe density ranks in the top quartile among the 710 neighborhoods in the Tampa–St. Petersburg–Clearwater metro, and parks access is also competitive at the metro level. Grocery and pharmacy availability are solid, supporting day‑to‑day convenience for residents.
School quality trends favor family retention. The neighborhood’s average school rating is near the top quartile among 710 metro neighborhoods, which can help support longer tenures and reduce turnover risk for family-oriented units. Childcare density is limited in the immediate area, so operators may want to consider that in leasing strategies and amenity programming.
Rents and occupancy at the neighborhood level reflect durable demand. The neighborhood occupancy rate is above the metro median, and the area’s renter-occupied share (36.4% of housing units) indicates a meaningful tenant base without being saturated. Median contract rents in the neighborhood sit above national norms, while rent-to-income levels suggest some affordability pressure—pointing to the importance of measured renewal strategies and value delivery to sustain retention.
Demographic metrics are aggregated within a 3-mile radius. Households have grown modestly in recent years with smaller average household sizes, and forecasts indicate additional household growth through 2028, which supports a larger tenant base over time. Combined with elevated home values relative to incomes near the national midpoint, the ownership landscape should continue to support reliance on multifamily housing while leaving room for selective pricing power.
Vintage context: Built in 1984, the asset is slightly newer than the neighborhood’s average vintage (early 1980s). That positioning can be competitive versus older stock, though investors should plan for system updates and selective common-area modernization to preserve performance.
Safety indicators are mixed and should be evaluated in context. The neighborhood’s overall crime ranking is below the metro median (ranked 484 among 710 metro neighborhoods), indicating comparatively higher reported incidents than many Tampa–St. Petersburg–Clearwater areas. Nationally, this places the area below mid-percentile ranges.
Trend signals are nuanced: violent incident rates have improved year over year and track closer to national mid-range levels, while property-related incidents remain elevated and have increased recently. For operations, this suggests emphasizing lighting, access control, and resident engagement programs, and aligning insurance and security planning with observed trends rather than block-level assumptions.
Nearby corporate offices provide a diversified employment base that supports renter demand and commute convenience. Key employers include Tech Data, Raymond James Financial, Wellcare Health Plans, Jabil Circuit, and Wellcare corporate offices.
- Tech Data — corporate offices (7.3 miles) — HQ
- Raymond James Financial — corporate offices (10.2 miles) — HQ
- Wellcare Health Plans — corporate offices (11.8 miles) — HQ
- Jabil Circuit — corporate offices (11.9 miles) — HQ
- Wellcare — corporate offices (12.0 miles)
This 82-unit, 1984-vintage Clearwater asset benefits from a strong amenity ecosystem, above-median neighborhood occupancy, and a renter concentration supportive of stable leasing. Household growth within a 3-mile radius and an ownership market near national midpoints point to sustained depth of demand. According to commercial real estate analysis from WDSuite, neighborhood rents trend above national norms, reinforcing the need for disciplined renewal management while signaling pricing resilience when paired with quality-of-life advantages and school strength.
Relative to older 1970s stock common in the area, the vintage provides competitive positioning while still offering value‑add potential through modernization of interiors and systems. Proximity to regional corporate offices supports retention and absorption, particularly for smaller unit mixes where amenity access and commute times matter.
- Amenity- and school-supported location with above-median neighborhood occupancy aiding leasing stability
- 1984 vintage offers competitive positioning versus older stock with clear modernization/value‑add pathways
- 3-mile household growth outlook expands the tenant base and supports long-term demand
- Risks: elevated property-incident trends and rent-to-income pressure warrant measured pricing and security planning