| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Good |
| Demographics | 63rd | Good |
| Amenities | 17th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7072 Barclay Ave, Spring Hill, FL, 34609, US |
| Region / Metro | Spring Hill |
| Year of Construction | 1987 |
| Units | 47 |
| Transaction Date | 2012-04-27 |
| Transaction Price | $1,800,000 |
| Buyer | TKG AT CARRIAGE CROSSING APARTMENTS LLC |
| Seller | BROOKRIDGE RRH LTD |
7072 Barclay Ave, Spring Hill FL Multifamily Value-Add
Owner-leaning submarket with expanding 3-mile household counts supports a selective, needs-based renter pool, according to WDSuite s CRE market data. 1987 vintage suggests operational upside through targeted renovations and common-area improvements.
Spring Hill s neighborhood profile is suburban (B- rating) with amenities that are thinner than core Tampa areas (amenities score sits in the lower national percentiles). For investors, that typically means car-oriented living and value-conscious renters, with fewer pressure points from urban lifestyle competition. Neighborhood occupancy is measured for the neighborhood and currently runs below national norms, so underwriting should emphasize leasing execution and retention rather than aggressive premium capture.
Renter-occupied housing accounts for a smaller share of units in this neighborhood relative to owners, indicating an owner-heavy base and a more selective but stable tenant pool for workforce-oriented multifamily. Compared with metro peers, median asking rents in the neighborhood track in the higher national percentiles, while the rent-to-income ratio sits in a comparatively moderate band, pointing to some pricing power but the need for thoughtful lease management to reduce affordability pressure and support renewals.
Within a 3-mile radius, population and household counts have grown over the past five years, and forecasts show additional increases through the next cycle. This expansion translates into a larger tenant base and supports occupancy stability for well-managed properties, especially those offering practical finishes and competitive unit sizes.
Home values benchmark in the upper national percentiles for comparable neighborhoods, framing the area as a higher-cost ownership market by regional standards. For multifamily investors, elevated ownership costs can sustain reliance on rentals and help support rent levels, while lease retention still hinges on maintaining a clear value proposition against single-family alternatives.
Neighborhood safety trends, measured at the neighborhood level (not the property), compare favorably to many U.S. neighborhoods. Overall crime indicators sit around the higher national percentiles for safety, and violent offense metrics are particularly strong, landing in the top decile nationally with notable year-over-year improvement. Property offense measures also benchmark well nationally with recent stabilization.
As always, investors should corroborate these directional trends with on-the-ground diligence and daypart checks along key corridors that feed the asset s renter base.
Regional employment is anchored by large corporate offices within commuting distance, supporting renter demand via diversified white-collar and healthcare-adjacent roles. Notable nearby employers include MetLife, Raymond James, Wellcare, Wellcare Health Plans, and Tech Data.
- MetLife Insurance Company insurance (28.5 miles)
- Raymond James financial services (30.1 miles)
- Wellcare healthcare services (34.4 miles)
- Wellcare Health Plans healthcare services (34.4 miles) HQ
- Tech Data technology distribution (44.2 miles) HQ
7072 Barclay Ave is a 47-unit asset with 1987 construction, older than the neighborhood s average vintage. That timing creates potential value-add angles from unit modernization to systems upgrades to sharpen competitive positioning against newer stock while planning for near-term CapEx. Based on commercial real estate analysis from WDSuite, the surrounding neighborhood shows higher national-percentile rents and a moderate rent-to-income profile, suggesting some pricing headroom if improvements enhance perceived value. At the same time, neighborhood occupancy is measured for the neighborhood and sits below national norms, so leasing execution and renewal strategy are central to the thesis.
Within a 3-mile radius, recent growth in population and households with additional gains forecast points to a larger tenant base and supports demand resilience. Elevated ownership costs by regional standards can further sustain reliance on rentals, but the submarket s owner-heavy tenure means demand is more selective and amenity-light dynamics favor practical, functional upgrades over luxury repositioning.
- 1987 vintage offers clear value-add scope (interiors, systems, curb appeal) to compete with newer product.
- Higher national-percentile neighborhood rents with moderate rent-to-income suggest measured pricing power post-renovation.
- 3-mile population and household growth expand the renter pool and support occupancy stability.
- Ownership costs benchmark high for the area, reinforcing renter reliance on multifamily housing.
- Risks: below-national neighborhood occupancy, owner-heavy tenure, and amenity-light dynamics require disciplined leasing and renewal strategy.