| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 39th | Poor |
| Demographics | 31st | Poor |
| Amenities | 6th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 377 Lanier Dr, Gretna, FL, 32332, US |
| Region / Metro | Gretna |
| Year of Construction | 2000 |
| Units | 22 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
377 Lanier Dr Gretna FL Multifamily Opportunity
Built in 2000 with larger-than-typical unit sizes, this 22-unit property offers durable workforce housing in a rural submarket where ownership costs run high relative to incomes, according to WDSuite’s CRE market data. The investment angle centers on steady renter demand and modernization upside rather than rent spikes.
The property sits in a Rural neighborhood within the Tallahassee, FL metro that is ranked below the metro median (125 out of 143 neighborhoods; rating C-) based on WDSuite’s CRE market data. Local amenities are limited—cafes, restaurants, and parks rank near the bottom of the metro—so the demand profile skews toward residents prioritizing space and value over walkable retail.
Vintage context matters here: the average neighborhood construction year is 1976, while this asset was built in 2000. Being newer than much of the local stock helps competitive positioning against older properties, though investors should plan for routine system updates typical of a 2000 vintage.
Neighborhood occupancy is below the metro median and has softened in recent years. However, the renter-occupied share at the neighborhood level is about a third of units, indicating a modest but real tenant base; within a 3-mile radius, tenure patterns also support consistent multifamily demand. Where ownership is pursued, elevated value-to-income ratios (top quintile nationally) suggest a high-cost ownership market for many households, which tends to sustain reliance on rental housing and can support lease retention.
Three-mile demographic statistics indicate past population and household declines, but forecasts to 2028 point to growth in both population and households alongside higher median and mean incomes. For investors, that translates into a potential renter pool expansion and improved rent coverage over time, supporting occupancy stability if operations are managed conservatively.
Comparable neighborhood-level safety metrics are not available in WDSuite for this location. Investors typically benchmark trends using city and county sources alongside insurer or lender datasets to understand directional risk and how it compares with the broader Tallahassee metro.
Employer proximity data with reliable distances is not available for this address. Investors often supplement WDSuite’s market view with local commuting patterns and major regional employers to gauge workforce housing demand and leasing stability.
This 22-unit asset (avg. unit size ~1,210 SF) offers durable, low-density multifamily exposure with a 2000 construction vintage that is newer than much of the surrounding housing stock. According to WDSuite’s commercial real estate analysis, ownership costs in the area are elevated relative to incomes, which tends to reinforce renter reliance on multifamily housing. While neighborhood occupancy trends have been soft, forward-looking 3-mile demographics point to a larger tenant base and higher household incomes by 2028, supporting a stabilization thesis with disciplined operations.
The investment case favors practical upgrades over heavy repositioning: address aging 2000-era systems, elevate interiors selectively, and lean on larger floor plans to compete with older comparables. Risks include rural amenity scarcity and sub-metro occupancy pressure, which call for conservative underwriting and active leasing management.
- Newer-than-local-stock 2000 vintage supports competitive positioning versus older supply
- Larger average unit sizes create differentiation for workforce renters
- High ownership cost-to-income dynamics support sustained rental demand and retention
- 3-mile forecasts indicate population and income growth, aiding occupancy stability
- Risks: below-metro neighborhood occupancy and sparse amenities require conservative lease and capex planning