| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Fair |
| Demographics | 39th | Fair |
| Amenities | 87th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8218 N Florida Ave, Tampa, FL, 33604, US |
| Region / Metro | Tampa |
| Year of Construction | 1983 |
| Units | 50 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
8218 N Florida Ave, Tampa FL Multifamily Opportunity
Neighborhood occupancy is healthy and amenities are strong, pointing to steady renter demand according to WDSuite’s CRE market data. Positioning focuses on workforce tenants and lease stability rather than outsized rent growth.
The property sits in an Inner Suburb corridor of Tampa that rates A- and ranks 157 out of 710 metro neighborhoods, placing it in the top quartile among Tampa-St. Petersburg-Clearwater submarkets. The area’s amenity depth is a clear advantage: grocery, parks, and pharmacy access test well against national peers, supporting day-to-day convenience that can aid leasing and retention.
Neighborhood occupancy is 92.1% (neighborhood-level, not property-level) and trends slightly above the national midpoint, which suggests stable absorption for well-managed assets. Within a 3-mile radius, households have grown in recent years with further gains projected, implying a larger tenant base that can support occupancy through cycles.
Renter concentration within 3 miles is substantial (about 47% of housing units are renter-occupied), reinforcing depth for multifamily demand. Median home values in the neighborhood sit in a higher ownership-cost context relative to local incomes (around the 80th national percentile on value-to-income), which typically sustains reliance on rental housing and can support pricing power when managed carefully.
Average neighborhood construction skews older (late-1960s). A 1983-vintage asset can compete well against older stock, though selective system updates and cosmetic refreshes may still be warranted to maintain positioning and capture value-add upside.
Safety indicators for the neighborhood trend below the national median, and the area is below the metro average among 710 Tampa-St. Petersburg-Clearwater neighborhoods. That said, WDSuite’s data show a notable year-over-year decline in estimated property offenses, indicating recent improvement on that dimension. Investors typically underwrite to on-the-ground management practices and target-unit security to mitigate risk.
Proximity to healthcare, insurance, and finance employers supports a steady commuter tenant base and can aid leasing resilience for workforce-oriented units. The list below highlights nearby corporate offices most relevant to day-to-day employment access.
- Wellcare — health insurance (5.3 miles)
- Wellcare Health Plans — health insurance (5.5 miles) — HQ
- Raymond James — financial services offices (5.6 miles)
- MetLife Insurance Company — insurance (9.1 miles)
- Cardinal Health — medical distribution (11.4 miles)
This 50-unit, 1983-vintage asset sits in a top-quartile Tampa neighborhood with strong everyday amenities and a renter base supported by nearby employment. Neighborhood occupancy is solid and, based on CRE market data from WDSuite, local ownership costs run high relative to incomes, which often reinforces sustained demand for rentals and supports rent-per-foot strategies for smaller formats.
Within a 3-mile radius, households have increased and are projected to expand further with smaller average household sizes, pointing to renter pool expansion and support for occupancy stability. The vintage is newer than much of the area’s older housing stock, offering competitive positioning today and pragmatic value-add potential through targeted updates to interiors and building systems.
- Top-quartile Tampa neighborhood with strong amenity access that supports leasing and retention.
- Stable neighborhood occupancy with a sizable renter-occupied share within 3 miles supporting demand depth.
- 1983 vintage competes well against older local stock, with selective renovations offering value-add upside.
- Household and income growth within 3 miles indicate a growing tenant base and potential for steady rent performance.
- Risks: Below-median safety metrics require active management and security planning; investors should underwrite expenses accordingly.