| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Fair |
| Demographics | 85th | Best |
| Amenities | 46th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2351 Alderman Rd, Palm Harbor, FL, 34683, US |
| Region / Metro | Palm Harbor |
| Year of Construction | 1995 |
| Units | 94 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2351 Alderman Rd Palm Harbor Multifamily Investment
Suburban Palm Harbor shows durable renter demand supported by strong schools and a high-cost ownership market, according to WDSuite’s CRE market data. The key investor angle is stable, higher-income households that can sustain occupancy and rent levels over time.
Palm Harbor’s neighborhood fundamentals are competitive within the Tampa–St. Petersburg–Clearwater metro, ranking in the top quartile among 710 metro neighborhoods. Livability is a core strength: the average school rating is at the top of the metro and in the top tier nationally, which supports family-oriented renter demand and longer tenancy.
Amenities trend favorable for a suburban location. Restaurant and cafe density compares well to national peers, and park access sits in higher national percentiles, while pharmacy and childcare options are thinner locally. These patterns point to everyday convenience with a few service gaps investors should consider when positioning amenities and services on-site.
Housing and pricing dynamics support multifamily demand. Elevated home values relative to national benchmarks indicate a high-cost ownership market, which can reinforce reliance on rentals and support pricing power. Within a 3-mile radius, renter-occupied housing comprises roughly one-quarter of units, signaling a moderate but stable renter base rather than a transient, heavily renter-dominant area.
Rents and occupancy merit attention. Neighborhood occupancy is lower compared with national peers, suggesting more competitive leasing conditions. However, the local income profile is stronger than average, and demographics within 3 miles show households have inched higher recently with forecasts calling for additional household growth and a slightly smaller average household size. Together, this points to a gradually expanding tenant base that can support absorption and retention with the right unit mix and management.
Vintage context: the subject’s 1995 construction is newer than the neighborhood’s average 1970s stock, implying relative competitive positioning versus older properties while still warranting selective modernization of systems and finishes to capture value-add upside.
Safety indicators are mixed and should be assessed in context. Compared with neighborhoods nationwide, this area sits below the national median for overall safety, and its metro rank places it below the metro average among 710 neighborhoods. Violent incident levels track around the national midpoint, while property offenses have shown a recent year-over-year increase. For investors, these trends argue for standard security measures, strong lighting and access control, and active coordination with local public safety resources.
Proximity to regional employers in corporate services, healthcare, financial services, and electronics manufacturing supports leasing and retention through commute convenience. Notable nearby demand drivers include Tech Data, Wellcare Health Plans, Raymond James, Raymond James Financial, and Jabil Circuit.
- Tech Data — corporate offices (12.4 miles) — HQ
- Wellcare Health Plans — healthcare services (12.5 miles) — HQ
- Raymond James — financial services offices (14.5 miles)
- Raymond James Financial — financial services (15.0 miles) — HQ
- Jabil Circuit — electronics manufacturing (16.7 miles) — HQ
This 94-unit, mid-1990s multifamily asset in Palm Harbor benefits from strong neighborhood fundamentals: top-tier schools, higher-income households, and elevated for-sale home values that reinforce rental reliance. The property’s 1995 vintage is newer than much of the local housing stock, offering a competitive edge with potential to unlock value through targeted modernization.
While neighborhood occupancy trends indicate more competitive leasing dynamics, proximity to major Tampa Bay employers and a projected increase in households within a 3-mile radius point to a gradually expanding renter pool. According to CRE market data from WDSuite, the area’s pricing and demographic profile supports steady demand, with tenant quality and lease retention as key execution levers.
- Newer 1995 vintage than local average, allowing selective value-add to drive rent premiums
- High-performing schools and higher-income households support retention and stable collections
- Elevated ownership costs bolster multifamily demand and pricing power
- Regional employers within commuting range underpin leasing across economic cycles
- Risk: lower neighborhood occupancy and recent property crime trends require strong leasing, security, and asset management