| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 67th | Best |
| Amenities | 69th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4652 Miramar Dr, Madeira Beach, FL, 33708, US |
| Region / Metro | Madeira Beach |
| Year of Construction | 2013 |
| Units | 24 |
| Transaction Date | 2019-09-10 |
| Transaction Price | $85,140,000 |
| Buyer | CBPF LLC |
| Seller | NORTHWESTERN MUTUAL LIFE INSURANCE CO |
4652 Miramar Dr Madeira Beach Multifamily Investment
2013 construction in a mostly older housing stock positions this 24-unit asset to compete well while benefiting from an owner-leaning area that supports steady renter demand, according to WDSuite’s CRE market data. Neighborhood occupancy has trended up over five years, suggesting improving stability with prudent lease management.
Madeira Beach’s neighborhood ranks 58 out of 710 metro neighborhoods with an A rating, placing it in the top quartile among local peers. A dense mix of restaurants (upper-national percentile) and parks supports year-round lifestyle appeal, while pharmacies and groceries are accessible by short drives. This amenity base underpins renter retention and aligns with coastal living expectations highlighted in WDSuite’s commercial real estate analysis.
The neighborhood’s rental market skews toward owners, with a renter-occupied share near one-third, which typically indicates a shallower but more stable tenant pool. Rents sit in the upper tier locally with strong five-year growth, reinforcing pricing power for competitive product. Occupancy in the neighborhood remains below metro averages, but the five-year uptrend points to gradually improving absorption and leasing conditions for well-positioned properties.
Vintage matters here: the average neighborhood construction year is 1970, so a 2013-built asset offers relative competitiveness versus older stock, with potential advantages in curb appeal, unit systems, and near-term capital planning. Elevated home values relative to incomes at the neighborhood level indicate a high-cost ownership market, which tends to sustain reliance on multifamily for those prioritizing flexibility or coastal proximity—supporting demand depth and lease retention for quality rentals.
Within a 3-mile radius, recent population change has been modest, but forecasts indicate meaningful population and household growth over the next five years. That expansion implies a larger tenant base and supports occupancy stability even as renter-occupied share in the broader area remains lower than metro norms. For investors, the combination of amenity density and projected household gains suggests durable demand for well-maintained, contemporary units.
Relative to other neighborhoods nationwide, safety indicators for this area track below the national median, and the neighborhood sits below the metro median when ranked against 710 Tampa–St. Petersburg–Clearwater neighborhoods. That said, recent data shows a year-over-year improvement in violent offense trends, signaling some positive momentum.
Investors should evaluate property-level security, lighting, and access controls, and consider how on-site management and screening can mitigate risk. Neighborhood-level statistics are directional and best used alongside asset-specific history and insurer feedback.
The area draws from a diversified employment base anchored by corporate offices in Pinellas County, supporting commuter convenience and renter demand. Key nearby employers include Tech Data, Raymond James Financial, Jabil Circuit, and Wellcare Health Plans.
- Tech Data — corporate offices (8.4 miles) — HQ
- Raymond James Financial — corporate offices (8.6 miles) — HQ
- Jabil Circuit — corporate offices (9.1 miles) — HQ
- Wellcare Health Plans — corporate offices (20.7 miles) — HQ
4652 Miramar Dr offers a 2013-vintage, smaller-scale multifamily asset in a high-amenity Madeira Beach neighborhood where newer product competes favorably against older stock. Neighborhood rents are positioned in the upper tier locally and have shown strong multi‑year gains, while elevated ownership costs at the neighborhood level tend to sustain multifamily reliance and support pricing power. According to CRE market data from WDSuite, occupancy at the neighborhood level has improved over five years; pairing that trend with a contemporary build and sound operations can support stability.
Within a 3-mile radius, forecasts point to population growth and a notable increase in households over the next five years, implying a larger tenant base and reinforcing demand for quality rentals. The area’s owner-leaning tenure suggests targeting lifestyle renters and long-term lease retention strategies, while acknowledging affordability pressure and the need for disciplined income qualification.
- 2013 vintage competes well versus primarily 1970s-era neighborhood stock, reducing near-term capex risk.
- Upper-tier neighborhood rents and strong multi‑year growth support rent roll durability for well-managed assets.
- Amenity-rich coastal location with expanding 3-mile household base supports occupancy stability and lease retention.
- Proximity to major corporate employers underpins workforce-driven renter demand.
- Risks: below-metro neighborhood occupancy, owner-leaning tenure, and affordability pressure require prudent lease and expense management.