| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Best |
| Demographics | 83rd | Best |
| Amenities | 51st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8450 Gate Pkwy W, Jacksonville, FL, 32216, US |
| Region / Metro | Jacksonville |
| Year of Construction | 2007 |
| Units | 22 |
| Transaction Date | 2018-06-28 |
| Transaction Price | $72,300,000 |
| Buyer | CENTENNIAL THORNTON PARK LLC |
| Seller | EPOCH THORNTON PARK APARTMENTS LLC |
8450 Gate Pkwy W Jacksonville Multifamily Investment Opportunity
Neighborhood-level data points to sustained renter demand and commute-friendly amenities, according to WDSuite’s CRE market data. Metrics cited below reflect the surrounding neighborhood, not the property itself.
Positioned in Jacksonville’s Inner Suburb, the surrounding neighborhood earns an A rating and ranks 33 out of 368 metro neighborhoods, making it competitive among Jacksonville locations for multifamily investors. Dining and café density sits in the upper national percentiles (restaurants and cafés both strong), while grocery and pharmacy access trend above average. Park access is limited, which may modestly temper outdoor amenity appeal, but everyday convenience remains a local strength.
Renter-occupied housing is prevalent in the neighborhood (57.2% renter concentration; top decile nationally), signaling a deep tenant base for lease-up and renewals. By contrast, neighborhood occupancy is measured at 85.6% and sits below national norms, suggesting that asset performance may hinge more on hands-on leasing, differentiated unit finishes, and effective management versus tighter submarkets. These statistics are measured for the neighborhood, not the property.
Within a 3-mile radius, recent population and household growth have expanded the renter pool, and forward-looking projections through 2028 indicate continued population gains alongside a sizable increase in households. Rising incomes alongside rent levels that remain manageable for many area earners support demand depth and can aid lease retention and pricing discipline over a full cycle.
Built in 2007 against a neighborhood average vintage around 2005, the asset is slightly newer than the local stock. That positioning can help competitiveness versus older properties in the submarket, while still warranting capital planning for mid-life systems and selective renovations to capture incremental rent.
Safety trends for the surrounding neighborhood are weaker than regional and national benchmarks. The area ranks 285 out of 368 Jacksonville neighborhoods for crime, placing it below the metro median, and national safety percentiles are low. Property and violent offense indicators have recently moved higher year over year, reinforcing the need for proactive security measures, lighting, and tenant screening to support resident satisfaction and retention.
Investors should evaluate recent police reports and on-the-ground management practices, monitor trend direction, and consider how visibility, access control, and partnerships with local authorities can mitigate risk while sustaining leasing performance.
Nearby corporate employment anchors within an easy commute support renter demand and retention, led by transportation, financial services, and distribution offices listed below.
- CSX — transportation & logistics HQ (7.6 miles) — HQ
- Fidelity National Financial — financial services (7.9 miles) — HQ
- Fidelity National Information Services — financial technology (7.9 miles) — HQ
- Anixter — distribution & electrical supplies (8.5 miles)
The property’s 2007 vintage, slightly newer than the neighborhood average, positions it to compete against older stock while offering potential value through targeted modernization. A high share of renter-occupied housing in the surrounding neighborhood and strong day-to-day amenity access support a broad tenant base. At the same time, neighborhood occupancy trends sit below stronger submarkets, making active leasing and asset differentiation important to drive performance over a hold period.
Population and household growth within a 3-mile radius—paired with increasing incomes—point to ongoing renter pool expansion that can underpin demand and help stabilize occupancy. According to CRE market data from WDSuite, the neighborhood combines solid convenience retail and service access with a commuter-friendly location near major employers, while safety indicators remain a factor to underwrite with appropriate operating practices.
- Slightly newer 2007 vintage supports competitive positioning versus older local stock
- High neighborhood renter concentration indicates depth of tenant demand
- 3-mile population and household growth bolster long-run leasing and retention
- Proximity to major employers supports occupancy stability and renewal probability
- Risk: Below-metro neighborhood occupancy and weaker safety metrics warrant hands-on management and security investment