| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Fair |
| Demographics | 53rd | Fair |
| Amenities | 51st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6781 Park Blvd N, Pinellas Park, FL, 33781, US |
| Region / Metro | Pinellas Park |
| Year of Construction | 2011 |
| Units | 120 |
| Transaction Date | 2010-09-28 |
| Transaction Price | $1,949,800 |
| Buyer | RST LODGES AT PINELLAS PARK LP |
| Seller | ATLAS FL I SPE LLC |
6781 Park Blvd N Pinellas Park Multifamily Opportunity
Neighborhood occupancy trends sit in the low 90s, pointing to steady renter demand near regional norms, according to WDSuite's commercial real estate analysis. A 2011 build positions this asset competitively versus older nearby stock, supporting leasing and retention dynamics.
Pinellas Park's Inner Suburb location offers everyday convenience that supports renter retention. Grocery and pharmacy access ranks above many Tampa–St. Petersburg–Clearwater neighborhoods (710 total), while restaurant and cafe density is solid for daily needs. Notably, park and formal childcare options are limited locally, which may affect family-oriented appeal.
The neighborhood rates B+ (ranked 262 of 710), placing it above the metro median overall. Median contract rents and household incomes track around the middle of the pack locally, and rent-to-income sits near 0.19, suggesting manageable affordability that can aid renewal rates. Home values indicate a high-cost ownership market by local standards, which tends to sustain reliance on rental housing.
Renter-occupied share in the neighborhood is roughly one-quarter of housing units, indicating a moderate renter concentration and a reasonably diversified tenant base. The average school rating in the area trends below national averages, which investors should weigh against the submarket's strong everyday retail and services access.
Within a 3-mile radius, recent population and household counts have been flat to slightly down, but forecasts point to population growth and a sizable increase in households over the next five years—signals that would expand the local tenant base and support occupancy stability. A 2011 construction year gives this property a newer profile than much of the area's 1970s stock, offering a competitive edge versus older buildings, while still warranting targeted system updates and modernization planning as the asset seasons. These dynamics align with multifamily property research from WDSuite without relying on aggressive assumptions.
Safety indicators for the neighborhood track slightly below national averages, with the area ranking 277 out of 710 metro neighborhoods on a crime index where a lower rank reflects more reported crime. Even so, recent trends show improvement, with both property and violent offense rates declining year over year, suggesting conditions are moving in a constructive direction. Investors should underwrite with conservative assumptions while recognizing the downward trajectory.
Nearby corporate anchors create a diverse employment base and support renter demand through commute convenience. Key employers include Raymond James Financial, Jabil Circuit, Tech Data, and WellCare Health Plans.
- Raymond James Financial — financial services (5.1 miles) — HQ
- Jabil Circuit — electronics manufacturing (5.5 miles) — HQ
- Tech Data — technology distribution (5.5 miles) — HQ
- WellCare Health Plans — managed care (17.3 miles) — HQ
Built in 2011, this 120-unit property is materially newer than much of the surrounding 1970s inventory, offering competitive positioning versus older assets while leaving room for targeted modernization as systems age. According to CRE market data from WDSuite, neighborhood occupancy sits around the low-90% range and rent-to-income is near 0.19—both supportive of stable cash flow and renewal potential.
The tenant base is moderately deep with roughly one-quarter of nearby housing units renter-occupied, and everyday amenities are strong relative to many metro peers. Forward-looking 3-mile forecasts indicate population growth and a notable rise in households, which would expand the renter pool and support leasing stability. Key underwriting considerations include below-average school ratings, limited parks/childcare options, and safety metrics that, while improving, remain below the metro median.
- 2011 vintage competes well against older local stock; plan for targeted updates as systems mature
- Neighborhood occupancy near low-90% and rent-to-income around 0.19 support retention and pricing discipline
- Moderate renter concentration with strong access to groceries, pharmacies, and daily services
- 3-mile forecasts show population and household growth, enlarging the local renter pool
- Risks: below-average school ratings, limited parks/childcare, and safety indicators below metro median despite recent improvement