| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Best |
| Demographics | 62nd | Good |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 132 Dixie Dr, Tallahassee, FL, 32304, US |
| Region / Metro | Tallahassee |
| Year of Construction | 1999 |
| Units | 34 |
| Transaction Date | 2020-11-13 |
| Transaction Price | $2,600,000 |
| Buyer | DIOR APARTMENTS LLC |
| Seller | DEVLIN HOLDINGS LLC |
132 Dixie Dr, Tallahassee FL Multifamily Investment
Renter demand is reinforced by a very high renter-occupied share in the surrounding neighborhood and strong amenity density, according to WDSuite’s CRE market data. Newer 1999 vintage relative to nearby stock positions the asset competitively while leaving room for targeted upgrades.
Situated in an Inner Suburb of Tallahassee, the neighborhood is rated A and ranks 14 of 143 neighborhoods locally, placing it among the top-performing submarkets in the metro. Amenity access is a clear strength: cafes and grocery stores rank 2 of 143, with restaurants and pharmacies also near the top of the metro distribution. These fundamentals support daily convenience and help attract and retain renters.
The area’s housing stock trends older (average 1985), while this property was built in 1999. The newer vintage relative to nearby stock offers competitive positioning versus legacy assets, though investors should still plan for system updates and light modernization to meet current renter expectations.
Tenure dynamics are favorable for multifamily: the neighborhood shows a very high share of renter-occupied housing units (ranked 2 of 143), indicating a deep tenant base and steady leasing velocity. Neighborhood occupancy has been stable but sits below the metro median (ranked 104 of 143), suggesting the need for hands-on leasing and retention strategies to sustain performance.
Within a 3-mile radius, demographics skew young, and households have been increasing, with projections calling for further growth through 2028. This points to a larger tenant base over time and supports demand for smaller-format units typical of student and early-career renters. According to WDSuite’s commercial real estate analysis, elevated amenity density compared with national norms (multiple measures in the top quartile nationally) aligns with these renter profiles.
Affordability requires attention. Neighborhood rent-to-income levels indicate some pressure, which can affect renewal behavior and concessions strategy. Framed correctly, smaller average unit sizes can help maintain attainable effective rents and support occupancy stability.
Safety indicators for the neighborhood trend below national benchmarks, with property offenses elevated relative to many U.S. neighborhoods. Compared with other Tallahassee neighborhoods (143 total), the area falls on the less favorable side of the metro distribution for crime, so investors should underwrite prudent security measures and tenant screening.
Recent year-over-year trends indicate increases in both violent and property offense rates. While conditions can vary block to block, framing expectations at the neighborhood level and budgeting for lighting, access control, and community standards can help support resident satisfaction and retention.
Built in 1999 with 34 units averaging 528 square feet, 132 Dixie Dr aligns with demand from a predominantly renter-occupied neighborhood while offering a newer vintage than much of the nearby stock. According to CRE market data from WDSuite, the immediate area’s amenity access is competitive across cafes, groceries, restaurants, and pharmacies, which supports leasing fundamentals for smaller-format units favored by students and early-career renters.
Forward-looking neighborhood dynamics are constructive: within a 3-mile radius, population and households are expected to expand, pointing to a larger tenant base and support for occupancy over time. The trade-off is affordability pressure (higher rent-to-income levels) and neighborhood safety that trails national norms, which argues for disciplined lease management, value-oriented finishes, and basic security upgrades. The asset’s relative vintage provides a platform for targeted value-add without the scope of a full gut renovation.
- Newer 1999 construction versus older nearby stock, allowing competitive positioning with selective upgrades
- High neighborhood renter-occupied share supports depth of tenant base and leasing velocity
- Strong amenity density (cafes, groceries, restaurants, pharmacies) bolsters renter appeal and daily convenience
- 3-mile radius shows growing households, reinforcing demand for smaller-format multifamily units
- Risks: below-median neighborhood occupancy, affordability pressure, and safety considerations warrant active management and prudent capex