| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Good |
| Demographics | 24th | Poor |
| Amenities | 62nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11113 N Nebraska Ave, Tampa, FL, 33612, US |
| Region / Metro | Tampa |
| Year of Construction | 1984 |
| Units | 85 |
| Transaction Date | 2015-05-22 |
| Transaction Price | $3,287,500 |
| Buyer | SILVERTREE SENIOR LLC |
| Seller | TAMPA NAPEE ELDERLY HOUSING DEVELOPMENT |
11113 N Nebraska Ave Tampa Multifamily Investment
High renter concentration in the surrounding neighborhood supports a deep tenant base even as occupancy trends are mixed, according to WDSuite’s CRE market data. Proximity to everyday retail and healthcare corridors adds leasing convenience for workforce renters.
Located in an Inner Suburb of Tampa (neighborhood rating B-), the area offers day-to-day convenience with strong access to grocery and pharmacy options and a dense restaurant corridor, while parks and cafes are more limited. Amenity availability ranks competitive among Tampa-St. Petersburg-Clearwater neighborhoods (116 out of 710), indicating solid local services relative to the metro.
The neighborhood skews heavily renter-occupied, with a high share of housing units renter-occupied. For multifamily owners, this suggests a reliable tenant pipeline and supports demand depth across unit types. Neighborhood occupancy is below the national middle, so execution around leasing, renewals, and product positioning will matter to capture share.
Construction in the immediate area trends late-1970s on average; the subject’s 1984 vintage is somewhat newer than the neighborhood norm, which can be competitively helpful. Investors should still plan for aging systems and targeted modernization to enhance retention and reduce future capital interruptions.
Within a 3-mile radius, population and households have expanded in recent years, with projections pointing to continued population growth and a notable increase in households. This dynamic implies a larger tenant base and supports occupancy stability over time. Elevated ownership costs relative to incomes in the neighborhood context reinforce sustained reliance on rentals, which can aid lease retention and pricing discipline for well-managed assets.
Safety indicators are mixed but generally comparable to national norms. Overall crime performance sits around the national middle (about the 52nd percentile nationally), while violent-offense metrics track below the national middle. Recent trends are directionally favorable, with both property and violent offenses showing year-over-year declines, indicating gradual improvement rather than a step-change.
As with most urban-adjacent neighborhoods, outcomes can vary by block. Investors typically focus on on-site lighting, access control, and community engagement to support resident comfort and retention alongside these improving trends.
The location is proximate to major financial and healthcare employers that underpin workforce renter demand and commute convenience. Nearby anchors include Raymond James, Wellcare and Wellcare Health Plans, MetLife Insurance Company, and Cardinal Health.
- Raymond James — financial services (4.6 miles)
- Wellcare — health insurance (6.1 miles)
- Wellcare Health Plans — health insurance (6.2 miles) — HQ
- MetLife Insurance Company — insurance (7.2 miles)
- Cardinal Health — healthcare distribution (12.6 miles)
11113 N Nebraska Ave offers 85 units in a renter-heavy Tampa neighborhood where the tenant pool is deep and services are convenient. While neighborhood occupancy rates track below the national middle, the area shows steady household growth within a 3-mile radius and improving safety trends, supporting a path to stable leasing for assets with effective operations and resident services. Elevated ownership costs relative to local incomes further sustain reliance on multifamily rentals, which can help with retention and pricing power for well-positioned properties. Based on CRE market data from WDSuite, the submarket’s amenity mix leans practical (grocers, pharmacies, restaurants) over lifestyle (parks, cafes), guiding positioning toward workforce demand.
Built in 1984, the asset is somewhat newer than the neighborhood average, offering a competitive baseline versus older stock. Investors should anticipate selective capital projects for systems and common-area refreshes to reduce maintenance risk and improve renewals. Looking ahead, population growth and a projected increase in households within 3 miles indicate ongoing renter pool expansion, supporting occupancy stability with disciplined leasing and expense control.
- Deep renter-occupied housing base supports tenant demand and leasing velocity
- Practical amenity access (grocers, pharmacies, restaurants) benefits daily-living convenience
- 1984 vintage offers competitive position versus older stock with targeted value-add potential
- 3-mile population and household growth support occupancy stability and renewal capture
- Risks: below-median neighborhood occupancy, mixed safety indicators, and limited parks/cafes require strong operations