| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 96th | Best |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 302 Harbour Place Dr, Tampa, FL, 33602, US |
| Region / Metro | Tampa |
| Year of Construction | 2002 |
| Units | 42 |
| Transaction Date | 2009-10-07 |
| Transaction Price | $149,500 |
| Buyer | PENIX ROBIN E |
| Seller | KB HOME TAMPA LLC |
302 Harbour Place Dr Tampa Multifamily Opportunity
Positioned in Tampa s urban core, the property benefits from strong renter demand and improving neighborhood occupancy trends, according to WDSuite s CRE market data. Stability is reinforced by a deep renter base and high local incomes, supporting consistent leasing performance at the neighborhood level.
Located on Harbour Place in Tampa s Urban Core, the property sits in a neighborhood that is competitive among the 710 Tampa St. Petersburg Clearwater neighborhoods for overall performance (A+ rating and a top-tier neighborhood rank). Amenity access is also competitive in the metro, with restaurants, groceries, and pharmacies scoring in the upper national percentiles, which helps sustain convenience-driven renter demand.
Restaurant density ranks in the 99th percentile nationally, grocery access is in the 96th percentile, and pharmacies land in the 98th percentile. These indicate walkable, service-rich surroundings that typically support resident retention and lease-up velocity. Neighborhood amenities overall are in the 80th percentile nationally, and cafes score in the 93rd percentile, consistent with an active urban lifestyle that multifamily renters often seek.
On housing dynamics, the share of renter-occupied units in the neighborhood is high (above the 90th percentile nationally), signaling a deep tenant base and resilient demand for multifamily product. Neighborhood occupancy has trended upward in recent years, which supports pricing power and reduces downtime risk; note that these occupancy conditions refer to the neighborhood, not the property. Median household income and home values both rank above national medians (around the 90th percentile or higher), indicating a high-cost ownership market that can reinforce reliance on rentals and support lease retention.
Construction vintage in this area averages around 2000. With a 2002 build, this asset is slightly newer than the local average, offering relative competitiveness versus older stock. Investors should still plan for selective modernization and system updates typical for early-2000s construction to maintain positioning against new deliveries.
Within a 3-mile radius, demographics show recent population and household growth with projections pointing to further expansion over the next five years. This pattern suggests a larger tenant base and continued renter pool expansion that can support occupancy stability and absorption, based on CRE market data from WDSuite.
Safety indicators are mixed. The neighborhood s crime rank sits at 532 out of 710 metro neighborhoods, which is below the metro median for safety and indicates elevated incident rates relative to many parts of the region. Nationally, the area scores below the median percentiles for both violent and property offenses, so investors should underwrite with prudent security measures and operating practices in mind.
Recent year-over-year estimates show an uptick in property offenses, while violent crime levels, though still below national median percentiles, have shown volatility. These figures are neighborhood-level indicators rather than property-specific, and trends can shift with policing, activation of nearby amenities, and resident engagement.
Proximity to major employers supports commute convenience and helps sustain renter demand for workforce and professional households. Key nearby employers include Cardinal Health, Wellcare/Wellcare Health Plans, Raymond James, and Jabil Circuit.
- Cardinal Health healthcare distribution (6.8 miles)
- Wellcare health insurance (8.7 miles)
- Wellcare Health Plans health insurance (8.8 miles) HQ
- Raymond James financial services offices (11.1 miles)
- Jabil Circuit electronics manufacturing (13.0 miles) HQ
302 Harbour Place Dr offers scale at 42 units in a service-rich Urban Core setting with strong renter-occupied concentration and high-income households at the neighborhood level. According to CRE market data from WDSuite, amenity density ranks in the upper national percentiles, and neighborhood occupancy has improved in recent years both supportive of leasing stability and renewal capture. Elevated home values in the neighborhood context suggest a high-cost ownership market that can sustain multifamily demand and pricing power.
Built in 2002, the asset is slightly newer than the local vintage average, positioning it well versus older stock while still benefiting from targeted modernization to keep pace with newer deliveries. Within a 3-mile radius, population and household growth with projections for continued expansion points to a growing renter pool that can support absorption and reduce downtime risk through the cycle.
- Urban-core location with top-tier amenity access, supporting resident retention and steady leasing
- High renter-occupied share at the neighborhood level indicates depth of tenant demand
- 2002 construction offers relative competitiveness versus older stock, with value-add potential through selective upgrades
- 3-mile radius growth outlook expands the renter pool and supports occupancy stability
- Risk: safety metrics sit below metro median levels; prudent security and operating plans are advisable