| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Poor |
| Demographics | 61st | Fair |
| Amenities | 42nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1030 Albee Farm Rd, Venice, FL, 34285, US |
| Region / Metro | Venice |
| Year of Construction | 2002 |
| Units | 80 |
| Transaction Date | 2001-03-15 |
| Transaction Price | $560,000 |
| Buyer | ST MARKS HOUSING OF VENICE INC |
| Seller | BRITT MAXINE A |
1030 Albee Farm Rd Venice Multifamily Investment
2002-vintage, 80-unit asset positioned for steady renter demand in Venice, with neighborhood convenience retail and healthcare access supporting tenant retention, according to WDSuite’s CRE market data.
This Inner Suburb location in Venice offers day-to-day convenience that supports leasing: neighborhood grocery and pharmacy density ranks in the top quartile nationally, while restaurants are also above national norms. Parks and cafés are thinner locally, so the amenity mix skews toward practical, car-oriented retail rather than destination lifestyle options.
The property was built in 2002, newer than the neighborhood’s average vintage from the early 1990s. That relative youth can enhance competitive positioning against older stock, though investors should still plan for mid-life building systems and selective modernization to protect rents and reduce turnover risk.
Within a 3-mile radius, household counts have grown in recent years and are projected to expand further by mid-decade, pointing to a larger tenant base. The area skews older with smaller average household sizes, which can favor smaller-unit formats and support occupancy stability for right-sized layouts.
Tenure patterns show a modest share of renter-occupied housing within 3 miles, indicating a defined but selective renter pool. Neighborhood-level occupancy trends sit below national norms, so underwriting should emphasize lease-up pace, renewal management, and targeted concessions strategy if needed. Home values sit in a mid-range context for the region, and rent-to-income metrics indicate manageable affordability pressure, which can aid retention and pricing discipline for well-maintained assets.
Safety indicators compare favorably at the national level: overall crime measures sit above national safety benchmarks, with violent and property offenses both in higher (safer) national percentiles. Recent-year trends point to modest declines in incident rates, suggesting stability rather than deterioration.
As with any analysis, these figures reflect neighborhood-wide patterns rather than property-specific security conditions. Owners typically reinforce on-site safety through lighting, access control, and vendor protocols to align with resident expectations.
Regional industrial and logistics employment provides commuting options that can supplement local service-sector jobs. The following nearby employer illustrates broader workforce access within a reasonable drive.
- Airgas Store — industrial gases & supplies (22.3 miles)
This 80-unit, 2002-vintage asset benefits from practical neighborhood amenities and an expanding 3-mile household base that supports a durable tenant pipeline. Newer construction versus the area’s older average stock helps competitiveness, while smaller household sizes locally can align with efficient floor plans to support occupancy and turnover control. According to commercial real estate analysis from WDSuite, neighborhood occupancy trends trail national norms, so business plans should emphasize asset upkeep, targeted marketing, and renewal management to sustain performance.
Ownership remains attractive relative to incomes in the broader area, but rent-to-income levels indicate room for sustainable pricing at stabilized quality. Net impact: steady demand drivers with measured underwriting around leasing velocity and capital planning for mid-life systems to protect NOI.
- 2002 vintage provides competitive edge versus older neighborhood stock with manageable mid-life capex planning
- Expanding 3-mile household base supports a larger tenant pool and leasing durability
- Practical amenity access (grocery, pharmacy) underpins day-to-day livability and retention
- Pricing power supported by balanced rent-to-income dynamics and right-sized unit layouts
- Risk: below-national neighborhood occupancy warrants careful lease-up, renewal, and concession strategy