| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Fair |
| Demographics | 32nd | Poor |
| Amenities | 93rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7625 59th St N, Pinellas Park, FL, 33781, US |
| Region / Metro | Pinellas Park |
| Year of Construction | 2011 |
| Units | 88 |
| Transaction Date | --- |
| Transaction Price | $55,200 |
| Buyer | CITY OF PINELLAS PARK |
| Seller | PATRICIA L LITKA TR |
7625 59th St N Pinellas Park Multifamily, 2011 Build
Newer construction versus the neighborhood s older housing stock supports leasing competitiveness and occupancy stability, according to WDSuite s CRE market data.
Located in Pinellas Park s Inner Suburb, the neighborhood carries an A- rating and ranks 146 out of 710 metro neighborhoods, placing it competitive among Tampa St. Petersburg Clearwater submarkets. Daily convenience is a strength: amenity access scores in the top quartile nationally, with dense coverage of groceries, cafes, restaurants, parks, and pharmacies supporting resident retention and day-to-day livability.
Multifamily fundamentals are supportive. The neighborhood s occupancy rate is competitive among Tampa St. Petersburg Clearwater neighborhoods, and a high share of renter-occupied housing units (above the national median, 82nd percentile) points to depth in the tenant base and consistent leasing velocity. For investors, this translates to demand resilience rather than reliance on a narrow renter cohort.
The local ownership market skews higher cost relative to incomes (value-to-income ratio in the 81st percentile nationally). That dynamic tends to reinforce renter reliance on multifamily housing, which can aid pricing power and lease retention through cycles. At the same time, median contract rents sit around the national middle, offering a balance between rent growth prospects and retention, based on CRE market data from WDSuite.
Demographic statistics aggregated within a 3-mile radius show recent flat-to-slightly negative population and household trends, but forward-looking data points to a larger renter pool over the next five years with projected gains in population and households alongside rising household incomes. A modest decrease in average household size is also expected, which can broaden demand for a variety of unit types without requiring new unit formation.
Vintage context matters: the average neighborhood construction year is 1968, while this property was built in 2011. Newer construction relative to nearby stock typically provides competitive positioning on systems, amenities, and curb appeal, though investors should still plan for mid-life updates over the hold period.
Safety indicators for the neighborhood track around the metro median while trending below the national median for safety. National percentiles for violent and property incidents sit in the lower ranges, suggesting investors should underwrite prudent security and operating practices rather than assume best-in-class performance.
On a comparative basis within the Tampa St. Petersburg Clearwater metro, the neighborhood s overall crime rank is near the middle of 710 neighborhoods, indicating conditions that are neither outlier-high nor outlier-low. Recent year-over-year data shows improvement, with both violent and property incident rates declining, which can support leasing confidence if the trend endures. As always, evaluate block-by-block dynamics carefully and align asset management to maintain resident confidence.
Proximity to major employers underpins renter demand and commute convenience. Nearby anchors include Jabil Circuit, Raymond James Financial, Tech Data, and Wellcare Health Plans, which support a diversified white-collar and operations workforce within practical commuting distance.
- Jabil Circuit corporate offices (3.97 miles)
- Raymond James Financial corporate offices (4.23 miles) HQ
- Jabil Circuit corporate offices (4.47 miles) HQ
- Tech Data corporate offices (5.28 miles) HQ
- Wellcare Health Plans corporate offices (16.61 miles) HQ
2011 construction in a neighborhood dominated by older stock positions the asset competitively on quality and systems, which can support occupancy and rent attainment versus nearby alternatives. Amenity access ranks among the metro s best and sits in the top quartile nationally, reinforcing day-to-day livability that helps with tenant retention and leasing velocity, according to commercial real estate analysis from WDSuite.
Investor fundamentals are balanced: a high renter-occupied share suggests depth of demand, the ownership market is relatively high-cost versus incomes (supporting sustained rental demand), and 3-mile demographic projections point to population and household growth that can expand the renter pool. Recent safety metrics are improving but remain below national medians, warranting prudent operating assumptions. As the asset approaches mid-life, capital planning for targeted upgrades should be incorporated into the business plan.
- Newer 2011 build versus a 1960s neighborhood average enhances competitive positioning and reduces immediate capex risk.
- Strong amenity density and commute access support leasing velocity and resident retention.
- Renter-occupied share above national median and relatively high ownership costs reinforce multifamily demand.
- 3-mile projections indicate population and household growth, expanding the tenant base over the medium term.
- Risks: safety metrics are below national medians and the asset is entering mid-life; underwrite security measures and future system upgrades.