| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Fair |
| Demographics | 44th | Fair |
| Amenities | 28th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1001 Ocala Rd, Tallahassee, FL, 32304, US |
| Region / Metro | Tallahassee |
| Year of Construction | 2005 |
| Units | 69 |
| Transaction Date | 2014-07-31 |
| Transaction Price | $4,000,700 |
| Buyer | FMF AQUA-ARLINGTON LLC |
| Seller | PC AQUA CLUB LP |
1001 Ocala Rd, Tallahassee FL Multifamily Investment
2005-vintage asset in a heavily renter-occupied neighborhood, positioned for steady leasing supported by local demand fundamentals, according to WDSuite’s CRE market data.
Located in Tallahassee’s Inner Suburb cluster (neighborhood rating: B), the area shows renter-driven housing dynamics: approximately 80% of housing units are renter-occupied, indicating a deep tenant base for multifamily. Neighborhood occupancy is reported at 87.3% and has improved over the past five years, suggesting stable leasing conditions rather than a lease-up story.
Amenity access is mixed. Dining density is comparatively strong (restaurant concentration ranks 21st among 143 Tallahassee neighborhoods; top quartile nationally), and park access is a local strength (ranked 4th of 143; high national percentile). Daily-needs retail is thinner in-neighborhood (limited grocery, pharmacy, and cafe counts), so residents may rely on nearby corridors for essentials.
For livability and pricing power, the neighborhood’s median contract rent sits near the metro middle, while median household income trends lower than many peer areas. With a rent-to-income ratio near 0.31, investors should plan for affordability-sensitive renewals and targeted concessions management; however, sustained renter concentration can support occupancy stability.
Demographic statistics within a 3-mile radius indicate a large 18–34 population share and growth in both population and households in recent years, with further expansion projected through 2028. This points to a larger tenant base over time, reinforcing multifamily demand, according to WDSuite’s commercial real estate analysis.
Vintage context: neighborhood housing skews older (average year built 1973). The subject’s 2005 construction is newer than prevailing stock, which can enhance competitive positioning versus older properties, while still warranting capital planning for mid-life systems and targeted unit updates.
Safety signals are mixed when benchmarked to the metro and nation. The neighborhood’s overall crime rank is 58th among 143 Tallahassee neighborhoods; because lower ranks indicate higher crime, this places the area on the higher-crime side of the metro. Nationally, safety sits below the middle of the pack (overall around the mid-30th percentiles), with violent offense indicators in the lower quartile and property offenses weaker still.
Trend-wise, property offense rates have declined year over year, which is a constructive sign for operating stability. Operators typically account for these conditions with lighting, access controls, and coordination with local resources, and by underwriting higher security and repair line items where appropriate.
This 69-unit, 2005-built community offers a renter-first location with improving neighborhood occupancy and a large 18–34 renter pool within a 3-mile radius. The asset’s newer vintage relative to the area’s predominantly 1970s stock supports competitive positioning, while smaller average unit sizes can align with budget-conscious renters and help sustain leasing velocity. Based on CRE market data from WDSuite, rents are mid-market for the area and renter concentration is high, supporting demand depth and day‑one occupancy stability.
Key considerations include affordability pressure (rent-to-income levels near one-third) and safety readings that trail national benchmarks, balanced by downward movement in property offenses and park/dining access that enhances livability. Capital plans should focus on mid-life systems and selective interior updates to protect yield and retention.
- Newer‑than‑area vintage (2005) versus 1970s neighborhood stock supports competitive positioning
- High renter concentration and improving neighborhood occupancy underpin demand stability
- Smaller average unit sizes can attract budget‑sensitive renters and aid leasing velocity
- Livability supported by dining and park access; daily‑needs retail is thinner in‑neighborhood
- Risks: affordability pressure and below‑national safety benchmarks require prudent operations and security investment