| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Good |
| Demographics | 43rd | Poor |
| Amenities | 32nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1300 N Lockwood Ridge Rd, Sarasota, FL, 34237, US |
| Region / Metro | Sarasota |
| Year of Construction | 1993 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1300 N Lockwood Ridge Rd Sarasota Multifamily Investment
Neighborhood renter concentration and improving occupancy trends indicate a stable tenant base, according to WDSuite’s CRE market data. Positioned in Sarasota’s inner suburb, the asset should benefit from steady demand drivers without relying on downtown pricing.
This inner-suburb location in Sarasota offers practical livability for renters, with strong daily-needs access. Grocery options are dense (top tier locally and top quartile nationally), and restaurant density is similarly high compared with neighborhoods across the U.S., based on commercial real estate analysis from WDSuite. By contrast, cafes, parks, and pharmacies are limited within the neighborhood, so some errands may require short drives to adjacent areas.
The neighborhood’s occupancy is competitive among North Port-Sarasota-Bradenton neighborhoods and has improved over the last five years, supporting income stability for multifamily assets. The share of housing units that are renter-occupied is high for the metro, indicating a deep tenant pool and potential for consistent leasing velocity.
Within a 3-mile radius, households grew in recent years despite relatively flat population totals, signaling smaller household sizes and a broader renter pool. Looking ahead, 3-mile forecasts point to population growth and a notable increase in households by 2028, which should expand the local tenant base and help support occupancy and absorption.
Home values in the neighborhood are lower than many coastal Florida submarkets, which can introduce some competition from ownership. However, rents relative to incomes remain manageable locally, which can aid lease retention and reduce turnover risk for well-managed properties. Average school ratings in the neighborhood are below national norms, which may be a consideration for family-oriented demand but is less critical for smaller-unit renter profiles.
Crime levels are comparatively favorable versus many neighborhoods nationwide, and the area is competitive among North Port-Sarasota-Bradenton neighborhoods. Recent data also indicates notable year-over-year decreases in both property and violent offense estimates, pointing to an improving trend rather than a single-year anomaly.
As always, investors should evaluate patterns at the neighborhood level rather than block-level anecdotes and consider how sustained improvements can support renter sentiment and leasing stability over a hold period.
Proximity to established employers supports a diversified renter base and commute convenience, with nearby roles spanning industrial supplies, healthcare distribution, electronics manufacturing, financial services, and technology distribution.
- Airgas Store — industrial supplies (5.0 miles)
- Jabil Circuit — electronics manufacturing (36.7 miles) — HQ
- Cardinal Health — healthcare distribution (37.8 miles)
- Raymond James Financial — financial services (38.3 miles) — HQ
- Tech Data — technology distribution (41.0 miles) — HQ
For a 40-unit Sarasota multifamily, the immediate neighborhood signals durable renter demand: competitive occupancy among metro peers, a high share of renter-occupied housing, and strong daily-needs access via dense grocery and dining options. Within a 3-mile radius, households are projected to increase meaningfully by 2028, expanding the tenant base and supporting occupancy stability and leasing velocity. Meanwhile, rents sit at levels that are manageable relative to incomes locally, which can aid retention and steady cash flow.
According to CRE market data from WDSuite, crime trends have improved year over year and the neighborhood compares favorably to many U.S. areas, reinforcing renter sentiment. Potential headwinds include below-average school ratings, limited parks and cafes inside the neighborhood, and some competition from ownership given relatively accessible home values; attentive asset management and targeted unit positioning can mitigate these factors.
- Competitive neighborhood occupancy and high renter-occupied share support a deeper tenant base and steadier leasing
- 3-mile household growth outlook through 2028 expands the renter pool and supports absorption
- Dense grocery and restaurant access aids day-to-day livability and lease retention
- Rents relative to local incomes support retention and reduce pricing-related turnover risk
- Risks: below-average school ratings, limited parks/cafes, and some ownership competition may require focused positioning