| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Poor |
| Demographics | 7th | Poor |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 12406 N 15th St, Tampa, FL, 33612, US |
| Region / Metro | Tampa |
| Year of Construction | 1974 |
| Units | 24 |
| Transaction Date | 2011-07-11 |
| Transaction Price | $2,050,000 |
| Buyer | BELLAMAR HOLDINGS LLC |
| Seller | 2383 RE HOLDINGS LLC |
12406 N 15th St Tampa Multifamily Investment
Neighborhood metrics point to durable renter demand, with a high share of renter-occupied housing supporting leasing depth, according to WDSuite’s CRE market data. Occupancy is steady at the neighborhood level, offering investors a baseline for cash flow management.
Located in Tampa’s inner suburbs, the area around 12406 N 15th St shows strong everyday convenience that benefits workforce renters. Grocery and dining density ranks competitively in the metro (cafe density at rank 18 of 710 and restaurants at rank 55 of 710) and places the neighborhood in the top quartile nationally for food-access amenities. This concentration helps properties capture demand from residents prioritizing short commutes to essentials.
Renter concentration is among the highest in the Tampa-St. Petersburg-Clearwater metro (rank 8 of 710), indicating a deep base of renter-occupied units and supporting multifamily demand. Neighborhood occupancy is 87.9% and has been relatively stable, which can aid cash flow consistency and lease retention strategies versus more volatile submarkets. Median contract rents sit near the metro’s workforce band, with recent years showing measured increases rather than outsized spikes.
Amenity balance is mixed: cafes, groceries, childcare, and restaurants score well nationally, while formal parks and pharmacies are sparse in immediate proximity. For investors, this suggests marketing that emphasizes daily convenience and transit access to broader amenity nodes, while evaluating on-site features that can offset limited park access. Demographic statistics aggregated within a 3-mile radius point to population and household growth, expanding the potential renter pool and supporting occupancy stability over the medium term.
Safety indicators are mixed and trend-sensitive. The neighborhood’s crime rank is 503 out of 710 metro neighborhoods, placing it below the metro median and below national safety percentiles. This suggests investors should underwrite with prudent security and tenant-experience planning relative to Tampa’s safer submarkets.
Recent trends are nuanced: estimated property offenses have declined modestly year over year, while estimated violent offenses show an uptick. Using comparative benchmarks (metro rank and national percentiles) can help calibrate appropriate operating practices without over-weighting short-term volatility.
Proximity to finance, insurance, and healthcare employers supports a steady commuter renter base and can aid retention through commute convenience. Notable nearby employers include Raymond James, MetLife, Wellcare, Wellcare Health Plans, and Cardinal Health.
- Raymond James — financial services (4.4 miles)
- MetLife Insurance Company — insurance (6.3 miles)
- Wellcare — managed care & healthcare services (6.6 miles)
- Wellcare Health Plans — managed care & healthcare services (6.8 miles) — HQ
- Cardinal Health — medical & pharmaceutical distribution (13.2 miles)
This 24-unit asset benefits from a renter-driven neighborhood where renter-occupied housing share ranks among the highest in the metro, reinforcing depth of tenant demand. Neighborhood occupancy near 88% provides a starting point for stable operations, while grocery and dining density scores competitive in the Tampa-St. Petersburg-Clearwater metro support leasing velocity at workforce price points. Based on commercial real estate analysis from WDSuite, rent levels have advanced in recent years without outsized spikes, suggesting room for operational optimization rather than reliance on aggressive rent lifts.
Demographic statistics aggregated within a 3-mile radius show population and household growth historically, with forecasts indicating continued expansion—factors that enlarge the prospective renter pool and support occupancy stability. Investors should also plan for thoughtful affordability management (rent-to-income dynamics are tight in this neighborhood) and enhanced tenant-experience measures given below-median safety rankings.
- Renter-heavy neighborhood supports demand depth and leasing stability.
- Competitive grocery and dining access underpins workforce renter appeal.
- Population and household growth (3-mile radius) expands the renter pool.
- Operational upside via tenant experience and management efficiency over pure rent growth.
- Risks: below-median safety rankings and affordability pressure require prudent underwriting.