| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Best |
| Demographics | 86th | Best |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6501 S West Shore Blvd, Tampa, FL, 33616, US |
| Region / Metro | Tampa |
| Year of Construction | 1995 |
| Units | 36 |
| Transaction Date | 1995-01-11 |
| Transaction Price | $990,000 |
| Buyer | PARAGON GROUP L P |
| Seller | LOOKOUT POINTE III ASSOC LTD |
6501 S West Shore Blvd Tampa Multifamily Investment
Neighborhood renter concentration and stable occupancy point to durable leasing fundamentals for this South Tampa location, according to WDSuite’s CRE market data. All occupancy and rent insights reference the surrounding neighborhood, not the property itself.
Situated in Tampa’s inner suburb near the Bay, the neighborhood scores A+ overall and is competitive among Tampa-St. Petersburg-Clearwater neighborhoods (ranked 15 of 710). Dining and cafe density are strengths, with restaurants and cafes in the top quartile nationally, while grocery access is above average; childcare and pharmacy access are comparatively thin, which may slightly reduce convenience for certain renter cohorts.
Neighborhood occupancy is about 93% and has trended higher over five years, supporting the case for stable cash flow at the area level. Renter-occupied housing accounts for roughly two-thirds of units in the neighborhood (about 68% renter concentration), indicating a deep tenant base for multifamily. Median contract rents in the neighborhood sit in a higher national band, and with a rent-to-income ratio around 0.25, pricing power exists but should be managed to mitigate affordability pressure.
Within a 3-mile radius, population and households have grown over the past five years, with households up roughly high single digits and median incomes rising, expanding the renter pool and supporting lease-up and retention. Forward-looking 3-mile projections anticipate continued population growth and a larger number of households alongside slightly smaller average household sizes, which typically supports multifamily demand depth over time.
The typical neighborhood construction year skews around 2000, suggesting this 1995-vintage asset is modestly older than nearby stock. That age positioning can support value-add or targeted system upgrades to enhance competitiveness against newer deliveries while managing capital plans deliberately.
Neighborhood safety indicators are generally around or modestly above national midpoints. Overall crime sits slightly better than the national midpoint (national percentile ~56), and property crime is also above the national midpoint (around the 60th percentile). Violent crime trends are near the national midpoint (around the 53rd percentile), with a recent year-over-year decline that compares favorably to many peers.
Relative to the Tampa-St. Petersburg-Clearwater metro, the neighborhood’s crime ranking is 127 out of 710 neighborhoods, indicating performance above metro median. As with any infill location, investors should monitor trend direction rather than any single-year datapoint, emphasizing portfolio-level risk management.
Proximity to major corporate employers supports commuter convenience and renter retention for workforce and professional tenants, including Jabil Circuit, Raymond James Financial, Cardinal Health, Wellcare Health Plans, and Tech Data.
- Jabil Circuit — electronics manufacturing services (7.2 miles) — HQ
- Raymond James Financial — financial services (8.4 miles) — HQ
- Cardinal Health — healthcare distribution (10.4 miles)
- Wellcare Health Plans — managed care (11.1 miles) — HQ
- Tech Data — IT distribution (11.3 miles) — HQ
6501 S West Shore Blvd is positioned within an A+-rated South Tampa neighborhood where dining and grocery amenities outperform regional averages and where occupancy at the neighborhood level has remained resilient. With roughly two-thirds of neighborhood housing renter-occupied, the depth of the tenant base underpins demand stability and supports consistent leasing. Elevated neighborhood home values indicate a high-cost ownership market, reinforcing reliance on multifamily rentals and supporting pricing power as leases roll, based on CRE market data from WDSuite.
Built in 1995, the asset is slightly older than the neighborhood’s typical 2000 vintage, creating a straightforward playbook for selective renovations and systems modernization to sharpen competitiveness versus newer product. Within a 3-mile radius, recent and projected growth in households and incomes expands the renter pool over time, supporting occupancy stability and lease retention while suggesting room for targeted value-add execution.
- Neighborhood occupancy near 93% with rising five-year trend supports area-level stability.
- Approximately 68% renter concentration signals a deep tenant base for multifamily demand.
- High-cost ownership environment sustains renter reliance and pricing power for quality product.
- 1995 vintage offers value-add and capital planning flexibility to enhance competitiveness.
- Risks: amenity gaps (childcare/pharmacies) and mid-range safety metrics warrant ongoing monitoring and leasing strategy alignment.