| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Best |
| Demographics | 67th | Best |
| Amenities | 47th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7724 Navarre Pkwy, Navarre, FL, 32566, US |
| Region / Metro | Navarre |
| Year of Construction | 1999 |
| Units | 36 |
| Transaction Date | 2016-03-16 |
| Transaction Price | $29,750,000 |
| Buyer | MFG CAYO GRANDE OWNER LLC |
| Seller | BENCHMARK CAYO GRANDE NAVARRE LLC |
7724 Navarre Pkwy, Navarre FL Multifamily Investment Outlook
Household growth and elevated ownership costs in the surrounding area point to durable renter demand, according to WDSuite’s CRE market data. The renter base is smaller locally, but rising incomes and steady rent levels suggest potential for stable tenancy with careful lease management.
The property sits in an A-rated suburban neighborhood that ranks 17 out of 134 in the Pensacola-Ferry Pass-Brent metro, placing it in the top quartile among metro neighborhoods. Neighborhood indicators point to balanced livability for working households: cafes and grocery access track above national medians, while restaurants are broadly in line; park and pharmacy density are more limited, which investors may consider when marketing on-site amenities.
Schools are a relative strength. The average school rating is among the highest in the metro (ranked 3 of 134) and sits in the top quartile nationally, a factor that can support retention for family-oriented renters. Neighborhood housing stock skews contemporary for the area, aligning with late-1990s suburban construction common across this part of Santa Rosa County.
Within a 3-mile radius, population and household counts have expanded over the last five years (population up 19.2% and households up 20.3%), with forecasts indicating further household growth through 2028. This trajectory points to a larger tenant base over time and supports occupancy stability as more renters enter the market.
Home values in the neighborhood are elevated relative to many U.S. areas, and median household incomes are strong. This high-cost ownership market tends to reinforce reliance on rental housing and can aid pricing power, while the neighborhood’s renter-occupied share remains modest (around one-fifth of units locally and within 3 miles), implying a targeted, but stable, demand pool. Neighborhood occupancy trends register on the lower end of the national distribution; property-level performance may differ, so underwriting should emphasize leasing strategy and incoming household growth. These dynamics, combined with nearby conveniences and schools, frame a measured commercial real estate analysis for long-term hold strategies.
Comparable safety metrics at the neighborhood level are not available in WDSuite for this location. Investors should benchmark property performance and resident feedback against broader Pensacola-Ferry Pass-Brent trends and lender/insurance assumptions, and incorporate typical diligence such as recent incident reviews and management practices.
Demand fundamentals are underpinned by household and income growth within a 3-mile radius, coupled with elevated ownership costs that sustain reliance on rentals. According to CRE market data from WDSuite, the neighborhood ranks in the metro’s top quartile overall and offers strong schools and everyday retail access, factors that can support retention and steady lease-up. The renter base is smaller, so positioning toward workforce households and families should focus on value, convenience, and school access.
Risks to underwrite include neighborhood occupancy metrics trending on the lower end nationally and limited nearby parks and pharmacies, which place more emphasis on on-site amenities and management. With measured rent-to-income levels and forecast household expansion, the asset’s performance will hinge on execution: targeted marketing, renewal management, and capturing in-migration.
- Expanding 3-mile tenant base with strong household and income growth supports leasing and renewals.
- Elevated home values and solid incomes reinforce sustained demand for quality rentals.
- Top-quartile neighborhood standing and strong school ratings aid retention for family renters.
- Leasing strategy should account for a smaller renter pool and lower neighborhood occupancy readings.
- Limited park/pharmacy density increases the importance of on-site amenities and service quality.