| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 64th | Good |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5000 S Himes Ave, Tampa, FL, 33611, US |
| Region / Metro | Tampa |
| Year of Construction | 1986 |
| Units | 112 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
5000 S Himes Ave Tampa Multifamily Investment
Neighborhood occupancy is healthy and elevated home values reinforce renter reliance on multifamily housing, according to WDSuite’s CRE market data.
Situated in Tampa’s inner suburb fabric, the property benefits from an A+ neighborhood rating and a top-decile position (23rd among 710 metro neighborhoods), signaling strong location fundamentals for sustained renter demand and leasing velocity.
Daily-needs access is a clear advantage: restaurants and cafes rank in the top national percentiles, and grocery and pharmacy availability are also well above national medians. Childcare density ranks competitively as well, supporting working households. School options rate below national medians, which may modestly temper family-driven demand but does not preclude steady absorption given the neighborhood’s broader amenity mix.
The average local construction year skews to the late-1970s, while this property’s 1986 vintage is somewhat newer. That positioning can be leveraged with targeted modernization to enhance competitive standing versus older stock, while planning for aging systems typical of 1980s construction.
Tenure patterns and demographics point to depth of demand. Within a 3-mile radius, roughly four in ten housing units are renter-occupied, indicating a sizable tenant base for multifamily operators. Population and households have grown over the past five years, with additional gains projected through 2028, which supports occupancy stability and a gradually expanding renter pool. Elevated neighborhood home values relative to incomes suggest a high-cost ownership market, which tends to sustain rental demand and can support pricing power, while the neighborhood’s occupancy level trends above national medians, based on CRE market data from WDSuite.
Safety indicators compare around the national median overall, per WDSuite’s CRE market data. Property-related offenses have improved year over year, trending better than national patterns, while violent-offense measures track less favorably than national medians. For investors, the takeaways are mixed but generally stable: monitor trends at the neighborhood level and underwrite modest security and lighting enhancements as part of ongoing operations.
Proximity to large corporate employers supports a broad commuter tenant base and helps underpin retention for workforce and professional renters. Notable nearby offices include Cardinal Health, Jabil Circuit, Raymond James Financial, Wellcare Health Plans, and Tech Data.
- Cardinal Health — healthcare distribution (8.7 miles)
- Jabil Circuit — electronics manufacturing HQ (9.1 miles) — HQ
- Raymond James Financial — financial services (10.1 miles) — HQ
- Wellcare Health Plans — managed care (10.1 miles) — HQ
- Tech Data — IT distribution (12.7 miles) — HQ
This 112-unit, 1986-vintage multifamily asset sits in a high-performing Tampa neighborhood with strong amenity access and a track record of healthy occupancy. Elevated for-sale housing costs in the area tend to sustain renter reliance on multifamily product, supporting demand depth and lease retention. Neighborhood occupancy trends above national medians, and the 3-mile radius shows population and household growth with additional gains projected, pointing to a larger tenant base over the medium term.
The vintage provides a balanced path for value-add: compared with the area’s older housing stock, targeted interior and systems upgrades can improve competitive positioning and operating margins. According to CRE market data from WDSuite, location quality and proximity to major employment nodes further support steady leasing fundamentals, while operators should still plan for ongoing capital needs typical of 1980s construction and manage affordability pressure with disciplined renewal strategies.
- A+ neighborhood and top-decile metro positioning support durable renter demand
- Elevated ownership costs locally reinforce multifamily reliance and pricing power
- 1986 vintage offers clear value-add potential versus older nearby stock
- Nearby corporate employment hubs underpin leasing stability and retention
- Risks: below-median school ratings and affordability pressure require careful lease management