| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Good |
| Demographics | 37th | Poor |
| Amenities | 14th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8802 Brennan Cir, Tampa, FL, 33615, US |
| Region / Metro | Tampa |
| Year of Construction | 1996 |
| Units | 24 |
| Transaction Date | 2015-10-27 |
| Transaction Price | $29,750,000 |
| Buyer | VR SHELDON HOLDINGS LIMITED PARTNERSHIP |
| Seller | SHELDON ROAD ASSOCIATES LLC |
8802 Brennan Cir Tampa Multifamily Investment
Neighborhood occupancy has held in the low 90s and remains competitive among Tampa-St. Petersburg-Clearwater submarkets, supporting income durability, according to WDSuite’s CRE market data.
Located in an inner-suburb pocket of Tampa, the area skews more residential than amenity-dense. Amenity coverage scores toward the lower end of the metro (ranked 606 among 710 neighborhoods), though childcare access is a relative bright spot with stronger coverage than many peers. For investors, this implies residents may rely on nearby corridors for dining and retail, while neighborhood services support everyday needs.
Multifamily fundamentals are balanced: the neighborhood’s occupancy is competitive among Tampa-St. Petersburg-Clearwater neighborhoods, and median asking rents sit above national medians (upper-national percentile), indicating steady renter demand. The share of housing units that are renter-occupied is elevated for the nation, which points to a deeper tenant base and supports lease-up and renewal stability.
Within a 3-mile radius, demographics show population and household growth over the last five years, with projections indicating continued household increases and smaller average household sizes. That trend typically expands the renter pool and can support occupancy stability and absorption. Median incomes in the 3-mile area have risen meaningfully, which can underpin rent collections and measured rent growth.
Home values in the immediate neighborhood sit around the middle of national distributions, suggesting an ownership landscape that neither sharply displaces renters nor significantly undercuts rental demand. A relatively modest rent-to-income ratio at the neighborhood level points to manageable affordability pressure, which can aid retention. From a vintage perspective, the property’s 1996 construction is slightly newer than the neighborhood’s early-1990s average, offering competitive positioning versus older stock while still warranting selective modernization planning over the hold.
Safety signals are mixed but improving. Within the Tampa-St. Petersburg-Clearwater metro, the neighborhood’s overall crime rank is 122 out of 710 neighborhoods, indicating a less favorable position locally. Nationally, however, it trends modestly above the median for safety, and both property and violent offense estimates have declined year over year, which is a constructive sign for long-term livability and leasing stability.
Proximity to major employers supports workforce housing demand and commute convenience for residents, including Wellcare Health Plans, Raymond James Financial, Tech Data, Jabil Circuit, and MetLife. This depth of white-collar and healthcare employment can reinforce tenant retention and leasing velocity.
- Wellcare Health Plans — managed care HQ (2.7 miles) — HQ
- Raymond James Financial — financial services (9.9 miles) — HQ
- Tech Data — technology distribution (9.9 miles) — HQ
- Jabil Circuit — electronics manufacturing (10.5 miles) — HQ
- MetLife Insurance Company — insurance (15.2 miles)
This 24-unit 1996-vintage asset benefits from a renter-heavy neighborhood profile and occupancy that is competitive among Tampa-St. Petersburg-Clearwater submarkets. Rents price in the upper national percentiles, yet neighborhood rent-to-income appears manageable, supporting collections and renewal probability. The vintage is slightly newer than the early-1990s neighborhood average, creating relative competitiveness versus older stock while still warranting targeted systems updates and cosmetic refreshes to capture value-add upside.
Within a 3-mile radius, population and household counts have expanded, with forecasts indicating further household growth and smaller household sizes — trends that typically enlarge the tenant base and support occupancy stability. Anchor employers within 3–11 miles diversify the white-collar and healthcare employment base, which can bolster leasing resilience across cycles. Based on commercial real estate analysis from WDSuite, the area’s fundamentals point to steady demand with measured upside, balanced by local amenity scarcity and metro-relative safety positioning.
- Competitive neighborhood occupancy and an elevated renter-occupied share support demand depth and renewal stability
- 1996 construction offers relative competitiveness vs. older stock with clear value-add pathways through selective modernization
- 3-mile population and household growth, with shrinking household size, expands the renter pool and supports absorption
- Proximity to major employers (healthcare, finance, technology) reinforces leasing velocity and retention
- Risks: lean amenity coverage in the immediate area and a less favorable metro crime rank require management focus and tenant experience strategies