| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 66th | Good |
| Amenities | 66th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2775 Enterprise Rd E, Clearwater, FL, 33759, US |
| Region / Metro | Clearwater |
| Year of Construction | 1984 |
| Units | 88 |
| Transaction Date | 2021-09-14 |
| Transaction Price | $39,000,000 |
| Buyer | 29SC CLEARWATER OWNER LLC |
| Seller | JWC CLEARWATER LLC |
2775 Enterprise Rd E Clearwater Multifamily Asset
Positioned in a high-cost ownership pocket of Clearwater, this 88-unit property benefits from steady renter demand and household income depth, according to WDSuite’s CRE market data. The location supports retention and pricing power while leaving room for value-add via targeted upgrades.
The property sits within a suburban neighborhood rated A and ranked 33rd of 710 in the Tampa–St. Petersburg–Clearwater metro, placing it well above the metro median. Local living fundamentals are supported by strong amenity access for daily needs: grocery and pharmacy density track in the 70s national percentiles, parks are also in the upper quartile nationally, and childcare access is competitive. Restaurant density is strong by national standards, while cafes are comparatively limited.
Neighborhood schools average roughly 3.0 out of five and rate above the national middle, providing stability for family-oriented renters. Median home values in the neighborhood are elevated versus national norms, which tends to sustain reliance on multifamily housing and support lease retention for well-managed assets.
At the neighborhood level, occupancy trends sit above the metro median and around the national middle, suggesting resilient leasing even as conditions normalize, per commercial real estate analysis from WDSuite. Renter concentration is about one-quarter of housing units, indicating an ownership-leaning area with a defined but selective tenant base.
Demographic statistics within a 3-mile radius show modest recent population growth and a 3% increase in households, with projections calling for a larger renter pool by 2028 as households are expected to rise materially. Rising median incomes in the area further underpin demand for quality units, while rent-to-income dynamics warrant thoughtful lease management to maintain occupancy stability.
Safety trends should be evaluated in context. The neighborhood’s crime rank sits in the lower half of the metro (509th of 710), and safety percentiles versus neighborhoods nationwide are below the national middle. Recent year-over-year changes indicate increases in both property and violent offenses, so monitoring directionality and applying standard onsite measures remains prudent for investor underwriting.
For investors, this translates to typical risk management considerations rather than a thesis driver: ensure lighting, access controls, and community engagement remain part of operating plans, and benchmark incident trends against comparable Tampa–St. Petersburg–Clearwater neighborhoods when assessing insurance and security line items.
Proximity to major corporate headquarters and offices supports commuter demand and leasing stability, with concentrations in technology, finance, and healthcare that align with professional and managerial tenants highlighted below.
- Tech Data — technology distribution (6.4 miles) — HQ
- Raymond James Financial — financial services (9.1 miles) — HQ
- Wellcare Health Plans — healthcare plans (10.7 miles) — HQ
- Jabil Circuit — electronics manufacturing (10.8 miles) — HQ
2775 Enterprise Rd E combines scale and livability in a high-cost ownership submarket, supporting durable rental demand. Built in 1984, the asset is slightly older than the neighborhood average, pointing to clear value-add potential through systems modernization and selective interior upgrades that can enhance competitiveness against newer stock. Neighborhood occupancy trends sit above the metro median, and elevated home values help support retention for well-positioned properties.
Within a 3-mile radius, households have grown and are projected to increase further by 2028, expanding the tenant base and supporting occupancy stability. According to CRE market data from WDSuite, local amenity access is strong for daily needs, while an ownership-leaning housing mix indicates a defined renter pool with relatively higher income profiles; this supports pricing power but warrants careful attention to affordability and lease management.
- Location fundamentals: top-tier neighborhood ranking in the metro with strong daily-needs amenities
- Value-add angle: 1984 vintage offers upgrade and systems modernization opportunities
- Demand drivers: elevated ownership costs and employer proximity support renter retention
- Scale and unit mix: property size supports operational efficiency and leasing depth
- Risks: affordability pressure and below-median safety percentiles require prudent underwriting and lease management