| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Fair |
| Demographics | 86th | Best |
| Amenities | 88th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10010 Skinner Lake Dr, Jacksonville, FL, 32246, US |
| Region / Metro | Jacksonville |
| Year of Construction | 1996 |
| Units | 24 |
| Transaction Date | 2025-11-10 |
| Transaction Price | $6,500,000 |
| Buyer | SIERRA LEAF PROPCO LLC |
| Seller | PNC BANK NATIONAL ASSOCIATION |
10010 Skinner Lake Dr Jacksonville Multifamily Investment
Positioned in an inner-suburb pocket with strong renter concentration and amenity access, this 24-unit, 1996-vintage asset benefits from a growing tenant base and durable demand drivers, according to WDSuite s CRE market data.
Located in Jacksonville s inner suburbs, the neighborhood rates A+ and ranks 8th among 368 metro neighborhoods, indicating competitive positioning within the market. Amenity access is a strength: restaurant and grocery density sit in the top quartile nationally, supporting daily convenience and lifestyle appeal for renters.
Renter-occupied housing share is high at the neighborhood level, reinforcing depth of the tenant base and supporting leasing velocity and renewal potential. By contrast, neighborhood occupancy levels trend below metro and national norms, so operators may need hands-on leasing and marketing to capture household growth and sustain occupancy.
Within a 3-mile radius, population and households have expanded and are projected to continue growing over the next five years, pointing to a larger tenant base and potential renter pool expansion. Median incomes in the 3-mile area have risen, and rent levels remain manageable relative to incomes, which can support lease stability and reduce turnover risk when paired with effective resident retention practices.
Home values in the neighborhood are lower than many U.S. areas, which can introduce some competition from ownership alternatives. Still, the combination of strong amenities, a sizable renter pool, and household growth supports multifamily demand fundamentals, based on commercial real estate analysis from WDSuite.
Safety metrics trend weaker than metro and national benchmarks, with the neighborhood ranking closer to the high-crime end among 368 Jacksonville metro neighborhoods and landing in lower national safety percentiles. For investors, this typically implies additional focus on lighting, access control, and visible property management presence, as well as potential implications for insurance and security line items.
Comparable inner-suburb locations have mitigated similar conditions through targeted operational measures and resident engagement. Prospective underwriting should evaluate recent trend lines at the neighborhood level rather than block-by-block assumptions and incorporate appropriate reserves for security enhancements where warranted.
Nearby corporate offices provide a diversified white-collar employment base that can support renter demand and retention. Key employers within commuting range include Anixter, CSX, Fidelity National Financial, and Fidelity National Information Services.
- Anixter corporate offices (8.2 miles)
- CSX corporate offices (8.9 miles) HQ
- Fidelity National Financial corporate offices (9.2 miles) HQ
- Fidelity National Information Services corporate offices (9.2 miles) HQ
This 24-unit property s 1996 vintage positions it slightly older than the neighborhood s average stock, creating potential value-add through targeted exterior, systems, and interior updates while remaining competitive on unit finishes and operating efficiency. Strong amenity access and a high share of renter-occupied units at the neighborhood level point to durable demand, though local occupancy trends require disciplined leasing and resident retention.
Within a 3-mile radius, population and household growth alongside rising incomes indicate a larger tenant base ahead, supporting lease-up and renewal strategies. According to CRE market data from WDSuite, neighborhood rents benchmark above many U.S. areas while rent-to-income remains manageable, suggesting room for measured revenue optimization when balanced against market positioning and resident affordability. Key risks include below-median neighborhood occupancy, safety considerations, and potential competition from ownership given comparatively accessible home values.
- High renter-occupied share supports tenant base depth and renewal potential
- 3-mile population and household growth expands the renter pool and supports occupancy stability
- 1996 vintage offers practical value-add via targeted CapEx and modernization
- Amenity-rich inner-suburb location aids leasing velocity and day-to-day livability
- Risks: below-median neighborhood occupancy, safety considerations, and competition from ownership options