| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Best |
| Demographics | 85th | Best |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1009 Concord Rd, Tallahassee, FL, 32308, US |
| Region / Metro | Tallahassee |
| Year of Construction | 2001 |
| Units | 117 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1009 Concord Rd Tallahassee 117-Unit Multifamily
Neighborhood fundamentals point to durable renter demand and above-average occupancy, according to WDSuite’s CRE market data, supporting a steady hold or value-add strategy for this Inner Suburb location.
This A+–rated Inner Suburb is the top-ranked neighborhood among 143 in the Tallahassee metro, reflecting a balanced mix of demand drivers and operational stability. Neighborhood occupancy is strong at 95.7% (top quartile nationally), which can support income consistency for professionally managed assets. The share of housing units that are renter-occupied is 50.7%, indicating a sizable tenant base for multifamily operators.
Livability is supported by everyday amenities: restaurant density sits in the national 73rd percentile, cafes in the 80th, groceries in the 71st, and pharmacies in the 91st percentile. While immediate park access is limited, the area’s service retail and daily needs reduce friction for residents and can reinforce lease retention.
Housing stock skews relatively modern for the metro (average construction year 1992). With a 2001 vintage, the subject property is newer than the neighborhood average, which generally helps competitive positioning versus older stock, though investors should still plan for ongoing system updates and selective common-area refreshes over the hold.
Income and education trends are favorable for collections and pricing discipline: neighborhood median household income is comparatively strong (national 64th percentile), and the bachelor’s degree share ranks in the 95th percentile nationwide. Home values sit around the national mid-range, which means ownership is not a high-cost barrier locally; this can introduce some competition from for-sale options, requiring differentiated renter value propositions in underwriting. Overall, the area’s metrics compare well to metro and national benchmarks and align with investor priorities for commercial real estate analysis.
Within a 3-mile radius, population has grown modestly in recent years and is projected to expand further over the next five years, with households increasing meaningfully and average household size edging smaller. This points to a larger tenant base and more one- and two-person households entering the market, which typically supports occupancy stability for multifamily communities.
Safety indicators are mixed but improving. Neighborhood-level crime benchmarks are around the national mid-range (violent and property offense percentiles in the 30s–40s nationwide), yet recent year-over-year trends show declines in both violent and property offenses. For investors, the directional improvement can aid leasing and renewal efforts, but onsite security, lighting, and resident experience programs should be part of standard risk management.
The area draws from a diversified Tallahassee employment base across government, education, healthcare, and services, supporting steady renter demand and manageable commute times for a broad workforce.
The investment case centers on demand depth, stable neighborhood operations, and competitive vintage. With neighborhood occupancy at 95.7% and a renter-occupied share near half of housing units, the tenant pool is broad and supportive of leasing velocity. The 2001 construction year is newer than the neighborhood average, suggesting relative competitiveness versus older assets while still allowing for targeted value-add to common areas and unit finishes. According to CRE market data from WDSuite, amenity access is favorable for daily needs, which can underpin retention even as park access nearby is limited.
Forward-looking demographics aggregated within a 3-mile radius show population growth and a notable increase in households alongside smaller average household sizes. That combination typically expands the renter pool, supporting occupancy stability and steady collections. Key underwriting considerations include localized competition from ownership options and maintaining resident experience to capture renewals while safety indicators continue their recent improvement trend.
- Strong neighborhood operations with high occupancy and sizable renter concentration support income stability
- 2001 vintage offers competitive positioning versus older stock with selective value-add potential
- Amenity-rich corridor for daily needs reinforces retention and leasing momentum
- 3-mile demographics point to population and household growth, expanding the tenant base
- Risks: moderate safety benchmarks, limited immediate park access, and some competition from for-sale housing