| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Fair |
| Demographics | 22nd | Poor |
| Amenities | 41st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7777 Normandy Blvd, Jacksonville, FL, 32221, US |
| Region / Metro | Jacksonville |
| Year of Construction | 2007 |
| Units | 24 |
| Transaction Date | 2017-08-01 |
| Transaction Price | $32,000,000 |
| Buyer | OAKS AT NORMANDY ACQUISITION LLC |
| Seller | ACORN HOUSING LLC |
7777 Normandy Blvd Jacksonville 24-Unit Multifamily
Renter concentration in the surrounding neighborhood supports steady tenant demand, with grocery and pharmacy access performing above the metro median, according to WDSuite's CRE market data.
Positioned in Jacksonville's inner-suburban west side, the property sits in a neighborhood that is above the metro median for overall amenities, with strong proximity to daily needs. Grocery and pharmacy density ranks above most Jacksonville neighborhoods (outperforming many areas within a 368-neighborhood metro), while restaurants are also comparatively convenient. By contrast, parks and cafes are limited, signaling a more utilitarian retail mix rather than destination lifestyle offerings.
Neighborhood occupancy trends run below the metro median, suggesting selective leasing conditions and the need for hands-on operations to sustain absorption and renewal performance. Even so, the share of renter-occupied housing is competitive among Jacksonville neighborhoods, indicating meaningful depth in the tenant base for multifamily operators.
Within a 3-mile radius, population and household counts have expanded over the past five years and are projected to continue growing through the next planning period. This points to a larger tenant base and supports long-run leasing stability, while a slight drift toward smaller household sizes typically favors demand for multifamily units.
Home values in the neighborhood track below many U.S. areas, which can introduce some competition from entry-level ownership. At the same time, rents benchmark modestly above national medians and rent-to-income levels indicate manageable affordability pressure, supporting retention and pricing discipline for well-run assets. These dynamics, based on CRE market data from WDSuite, frame the submarket as primarily convenience- and value-driven rather than amenity-led.
Safety indicators for the immediate neighborhood trend weaker than both metro and national norms. The area ranks in the lower tier for safety among 368 Jacksonville neighborhoods and falls in low national percentiles, indicating elevated incident rates relative to many U.S. neighborhoods. Investors should underwrite with risk-adjusted assumptions and consider property-level measures that enhance resident comfort and retention.
Nearby headquarters and corporate offices provide a diverse white-collar employment base that supports renter demand and commuting convenience, notably in financial services and transportation. The list below highlights key employers within a practical drive of the property.
- Fidelity National Information Services - financial technology (6.3 miles) - HQ
- Fidelity National Financial - title insurance & services (6.3 miles) - HQ
- CSX - rail & transportation (7.0 miles) - HQ
- Anixter - distribution & industrial supplies (18.7 miles)
This 24-unit property benefits from a renter-leaning neighborhood profile and proximity to major employers, supporting a consistent tenant pipeline. Daily-needs retail access is a relative strength, while limited lifestyle amenities point to a value-focused renter segment. According to CRE market data from WDSuite, neighborhood rents sit above many U.S. areas and rent-to-income metrics suggest manageable affordability pressure, aiding renewal and collections for well-operated assets.
Key considerations include below-metro occupancy trends and weaker safety readings versus both the metro and nation, which warrant conservative underwriting and active management. With population and household growth within a 3-mile radius projected to continue, the demand backdrop remains constructive for disciplined operators who prioritize retention and cost control.
- Renter-occupied housing share competitive among Jacksonville neighborhoods, reinforcing depth of the tenant base.
- Daily-needs access (groceries, pharmacies, restaurants) supports convenience-driven leasing and retention.
- 3-mile radius population and household growth expands the local renter pool and supports occupancy stability over time.
- Affordability metrics indicate manageable rent-to-income levels, aiding pricing discipline for well-run assets.
- Risks: below-metro occupancy and weaker neighborhood safety require conservative underwriting and active management.