| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 62nd | Good |
| Amenities | 20th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10821 Cross Creek Blvd, Tampa, FL, 33647, US |
| Region / Metro | Tampa |
| Year of Construction | 2008 |
| Units | 24 |
| Transaction Date | 2020-11-20 |
| Transaction Price | $55,539,000 |
| Buyer | CROSS CREEK OWNER LLC |
| Seller | CENTENNIAL CROSS CREEK LLC |
10821 Cross Creek Blvd Tampa Multifamily Investment
Neighborhood occupancy has held in a competitive range and sits in the top quartile locally, supporting stable leasing conditions for a 24-unit asset, according to WDSuite’s CRE market data. Elevated ownership costs nearby further reinforce renter reliance on multifamily housing in this inner-suburban Tampa location.
Located in Tampa’s Inner Suburb fabric, the neighborhood posts top-quartile occupancy among 710 metro neighborhoods and ranks above the national median for housing fundamentals, per WDSuite. That backdrop typically supports steadier cash flow for multifamily, with a renter-occupied share of housing units that is elevated for the metro, signaling a deeper tenant base at the neighborhood level. Note that these occupancy and tenure metrics refer to the neighborhood, not this property.
Livability leans suburban. Amenity density trails the metro (amenities rank in the lower fifth nationally), and cafes, parks, and pharmacies are sparse within close radius; however, grocery access is reasonable for the submarket. For investors, that mix implies car-oriented living but limited direct competition from high-amenity urban rentals; pricing tends to hinge more on school access, household incomes, and commute convenience than on walkability.
Within a 3-mile radius, WDSuite’s demographics indicate population and household growth over the last five years, with projections calling for further increases in households. This expansion, alongside a high share of upper-income households, points to a larger tenant base and supports occupancy stability even as new supply cycles through the metro.
Home values in the neighborhood test high relative to incomes (nationally strong value-to-income percentile), reinforcing sustained rental demand as households balance costs. At the same time, rent-to-income levels trend manageable for the area, which can aid retention and provide measured room for revenue management rather than relying on outsized rent jumps.
Asset positioning: Built in 2008, the property is newer than the neighborhood’s average vintage (2000). That typically improves competitive standing versus older stock, though investors should still underwrite mid-life system updates and selective renovations to keep units current.
Safety indicators benchmark above metro averages and land in the upper national percentiles, according to WDSuite. The neighborhood’s crime profile ranks competitively among 710 Tampa–St. Petersburg–Clearwater neighborhoods, and recent trends show a notable improvement in violent offense rates year over year.
Interpretation for investors: comparative strength rather than absolute guarantees. The area performs better than many peer neighborhoods nationally, and the improving trend supports leasing stability and resident retention, but prudent operations and standard security measures remain appropriate.
Nearby employers span insurance, financial services, healthcare, and retail headquarters, supporting a diverse white-collar employment base that underpins renter demand and commute convenience for residents. Specifically, MetLife Insurance Company, Raymond James, Wellcare/Wellcare Health Plans, Cardinal Health, and Publix Super Markets are within practical commuting distance.
- MetLife Insurance Company — insurance (5.0 miles)
- Raymond James — financial services (13.3 miles)
- Wellcare — healthcare services (17.1 miles)
- Wellcare Health Plans — healthcare services (17.3 miles) — HQ
- Cardinal Health — healthcare distribution (18.2 miles)
- Publix Super Markets — retail & corporate functions (19.6 miles) — HQ
10821 Cross Creek Blvd offers a suburban Tampa location with neighborhood occupancy in the top quartile locally, signaling resilient demand for stabilized multifamily. Population and household growth within a 3-mile radius indicate a larger tenant base ahead, while elevated for-sale home values sustain reliance on rental options. Built in 2008, the asset is newer than nearby averages, positioning it competitively versus older inventory while calling for mid-life capital planning to maintain appeal.
According to CRE market data from WDSuite, rent-to-income levels in the neighborhood remain manageable relative to incomes, supporting retention and measured pricing power. Limited walkable amenities mean leasing is driven by household incomes, schools, and commutes rather than lifestyle retail, which can temper volatility but requires focus on property-level features and operations to differentiate.
- Neighborhood occupancy stands in the top quartile locally, supporting stable leasing conditions.
- 2008 vintage offers competitive positioning versus older stock with targeted mid-life upgrades.
- 3-mile population and household growth expand the tenant base and support occupancy stability.
- High home values reinforce rental demand; rent-to-income appears manageable for retention.
- Risks: lower amenity density and car-oriented context; underwrite ongoing capex and disciplined lease management.