| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Fair |
| Demographics | 65th | Good |
| Amenities | 71st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2580 Nursery Rd, Clearwater, FL, 33764, US |
| Region / Metro | Clearwater |
| Year of Construction | 1975 |
| Units | 88 |
| Transaction Date | 2017-03-01 |
| Transaction Price | $3,992,800 |
| Buyer | Far Horizons MHP LLC |
| Seller | Far Horizons LLC |
2580 Nursery Rd Clearwater Multifamily Investment, 88 Units
Neighborhood fundamentals indicate steady renter demand supported by nearby employment and everyday amenities, according to WDSuite’s CRE market data. The property’s 1975 vintage suggests potential for targeted value-add to enhance competitiveness and bolster operating performance.
Positioned in Clearwater’s inner-suburban fabric, the neighborhood is rated A and ranks 103rd among 710 Tampa–St. Petersburg–Clearwater neighborhoods—competitive at the metro level. Daily convenience is a clear strength: grocery access sits in the top quartile nationally, with childcare and cafes also strong, supporting resident retention and leasing velocity.
Schools in the area average a 3.0 rating (above national mid-point), which can support family-oriented renter demand. Amenity density trends align with a mixed-use suburban environment and help underpin consistent traffic for stabilized assets, based on commercial real estate analysis from WDSuite.
Renter concentration varies by lens: at the neighborhood level, 31.4% of housing units are renter-occupied, while within a 3-mile radius renters account for roughly two-fifths of occupied units—indicating a broad tenant base for multifamily. Neighborhood occupancy is around the low-90% range with some softening in recent years; operators should focus on tenant retention and renewal management to sustain stability.
Ownership costs are elevated for the region (home values rank above the national median), while typical rents track with household incomes (rent-to-income near one-fifth). For investors, this combination supports durable rental demand and manageable lease management considerations rather than extreme affordability pressure.
Construction trends skew older locally (average early-1970s). With a 1975 build, the asset is relatively competitive against older stock, though investors should still plan for system updates and selective renovations to strengthen positioning against newer deliveries.
Safety outcomes are mixed in comparative terms. Within the Tampa–St. Petersburg–Clearwater metro, the neighborhood’s crime ranking sits near the middle of 710 neighborhoods, indicating neither an outlier risk nor a top-tier position. Nationally, indicators trend below average, but recent data shows violent offenses moving in a favorable direction year over year, suggesting improving momentum.
For underwriting, frame safety as a monitoring item rather than a defining risk: emphasize onsite visibility, lighting, and resident engagement while tracking neighborhood-level trends for confirmation of continued improvement.
Proximity to established corporate employers supports a stable renter base and commute convenience for working households. The employers below anchor regional office employment and help sustain multifamily demand in the submarket.
- Tech Data — corporate offices (2.3 miles) — HQ
- Raymond James Financial — corporate offices (5.6 miles) — HQ
- Jabil Circuit — corporate offices (7.3 miles) — HQ
- Wellcare Health Plans — corporate offices (12.8 miles) — HQ
The 88-unit asset’s scale and 1975 vintage position it for operational optimization and selective value-add in a neighborhood that is competitive among Tampa–St. Petersburg–Clearwater submarkets. Population and household trends within a 3-mile radius point to a larger tenant base over time, with household growth outpacing population and implying smaller households that can support multifamily demand.
Neighborhood occupancy sits in a stable range, and ownership costs trend high relative to incomes, which reinforces reliance on rental housing. According to multifamily property research from WDSuite, everyday amenities and proximity to major employers support leasing durability, though owners should plan for ongoing capital needs consistent with mid-1970s construction.
- 88-unit scale supports operating efficiency and professional management.
- 1975 construction offers value-add potential via unit and system upgrades.
- Amenity access and nearby corporate employers underpin renter demand and renewal potential.
- Risks: mid-pack safety metrics, modest softening in neighborhood occupancy, and ongoing CapEx typical of older assets.