| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Best |
| Demographics | 64th | Good |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5140 Gate Pkwy, Jacksonville, FL, 32256, US |
| Region / Metro | Jacksonville |
| Year of Construction | 2013 |
| Units | 30 |
| Transaction Date | 2022-10-26 |
| Transaction Price | $58,400,000 |
| Buyer | SRC TERRACES LLC |
| Seller | MREF II TERRACES LLC |
5140 Gate Pkwy Jacksonville Multifamily Investment
Modern 2013-vintage, 30-unit asset positioned in Jacksonville’s Inner Suburb corridor with renter demand supported by a high neighborhood renter-occupied share and steady occupancy, according to WDSuite’s CRE market data.
Located in Jacksonville’s Inner Suburb, the neighborhood scores an A and ranks 19 out of 368 metro neighborhoods, signaling it is competitive among Jacksonville submarkets for multifamily investors. Local occupancy runs near 90% and the renter-occupied share is elevated, indicating a sizable tenant base that can support leasing stability through cycles.
Daily-life amenities track above national norms: restaurants and cafes sit in the top quartile nationally, and grocery and pharmacy access are both above average. These concentrations typically improve leasing velocity and resident retention, particularly for workforce and professional renters seeking convenience.
Within a 3-mile radius, demographics point to sustained renter pool expansion: population grew roughly 23% and households nearly 29% over the last five years, with forecasts calling for further increases through 2028. Rising median incomes and projected rent growth suggest room for disciplined pricing while keeping an eye on affordability pressure and lease management.
Home values are comparatively high for the metro, which tends to reinforce reliance on rental options and can support occupancy stability for well-positioned assets. The submarket’s housing stock skews newer than the metro average, and a 2013-vintage property should remain competitive versus older inventory while still benefiting from targeted modernization to drive rent premiums.
School ratings in the surrounding area trend below national averages, which is a consideration for family-oriented demand; however, the neighborhood’s strong share of renter-occupied units and concentration of amenities appeal to young professionals and households prioritizing commute convenience and services.
Neighborhood safety indicators are weaker than national averages, with crime metrics ranking in the lower tiers among Jacksonville neighborhoods (ranked 242 out of 368). Nationally, the area sits in low percentiles for both property and violent offense measures, indicating a need for standard risk management practices such as security features and diligent onsite operations.
Investors should evaluate recent trend movements as some year-over-year changes have worsened. Framing safety at the neighborhood level—rather than at the property—helps set appropriate underwriting assumptions for insurance, onsite staffing, and resident screening.
Proximity to major employers supports workforce housing demand and commute convenience, anchored by corporate offices and headquarters including Anixter, CSX, Fidelity National Financial, and Fidelity National Information Services.
- Anixter — distribution/electrical (7.4 miles)
- CSX — rail transportation (9.7 miles) — HQ
- Fidelity National Financial — title insurance (10.0 miles) — HQ
- Fidelity National Information Services — fintech (10.0 miles) — HQ
5140 Gate Pkwy offers a 2013-vintage, 30-unit footprint in a neighborhood that ranks 19 of 368 across Jacksonville, with amenity access above national averages and a renter-occupied share that supports depth of tenant demand. Within a 3-mile radius, strong historical and projected growth in population and households points to a larger renter pool and supports occupancy stability and leasing durability.
Newer construction relative to the area’s average gives the asset competitive positioning versus older stock while allowing for targeted value-add through unit upgrades and common-area enhancements. According to CRE market data from WDSuite, neighborhood occupancy is around metro norms and rents have trended upward alongside rising incomes, suggesting potential for disciplined rent growth with careful attention to affordability and retention risk.
- Competitive Inner Suburb location with top-tier amenity access and commute convenience
- 2013 construction offers a newer baseline with room for targeted value-add
- Expanding 3-mile renter pool and rising incomes support leasing stability
- Pricing power potential tied to amenity concentration and corporate employment base
- Risk: neighborhood safety metrics trail national averages—underwrite for security, insurance, and retention