| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Fair |
| Demographics | 44th | Fair |
| Amenities | 28th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1380 Ocala Rd, Tallahassee, FL, 32304, US |
| Region / Metro | Tallahassee |
| Year of Construction | 1978 |
| Units | 48 |
| Transaction Date | 2005-01-31 |
| Transaction Price | $3,200,000 |
| Buyer | PINECREST WEST LAND TRUST |
| Seller | BENNETTS MOBILE HOME PARK LC |
1380 Ocala Rd, Tallahassee Multifamily Investment
Neighborhood data indicates a deep renter base and steady leasing conditions in the immediate area, according to WDSuite s CRE market data. These signals point to durable tenant demand at the neighborhood level rather than the property itself.
The property sits in an Inner Suburb of Tallahassee where renter-occupied housing is a defining feature of the neighborhood. The neighborhood s renter concentration ranks 4 out of 143 within the metro and is in the 99th percentile nationally, suggesting strong depth of tenant demand for multifamily. Median contract rents in the neighborhood are mid-market by national comparison, and have trended upward over the last five years, supporting revenue stability.
Occupancy in the neighborhood is below the metro median but has improved over the past five years, indicating gradual stabilization. For investors, that combination arge renter pool with recent occupancy gains supports a case for steady leasing while emphasizing the importance of hands-on operations and tenant retention strategies.
Local livability is mixed: restaurant density is competitive among Tallahassee neighborhoods (ranked 21 of 143; top quartile locally and 75th percentile nationally), while everyday retail like groceries, pharmacies, and cafes is limited within the immediate neighborhood footprint. Parks access scores well (ranked 4 of 143; 92nd percentile nationally), which enhances day-to-day livability and can aid resident retention.
Within a 3-mile radius, population and household counts have grown in recent years and are projected to continue expanding by 2028, implying a larger tenant base over time. The area also maintains a high share of renter-occupied housing within this radius, reinforcing multifamily demand. For investors, these demographic trends point to ongoing renter pool expansion that can support occupancy stability and measured rent growth as operations are optimized.
Home values in the neighborhood are lower relative to national norms, which can make ownership more accessible for some households; however, rent-to-income ratios indicate some affordability pressure among renters. This mix suggests balanced pricing power: opportunities for rent growth exist where supported by unit quality and amenities, but thoughtful lease management will be important for retention.
Safety indicators are mixed compared with both metro and national benchmarks. The neighborhood s overall crime position is roughly middle-of-the-pack within Tallahassee (ranked 58 out of 143 neighborhoods), while national comparisons point to below-average safety. Notably, estimated property offense rates have improved year over year (ranked 23 out of 143 for improvement; around the middle nationally), signaling a recent positive trend that investors should continue to monitor.
Violent offense measures compare weaker at the national level, reinforcing the need for standard property-level security practices and resident communication. As always, investors should pair this neighborhood read with on-the-ground diligence and current local reporting to assess trajectory and micro-location differences.
The broader Tallahassee employment base provides commute-accessible jobs that can support renter demand and lease retention for workforce-oriented housing in this submarket.
Built in 1978, the asset s vintage suggests room for targeted renovations and systems updates to enhance competitiveness versus newer stock, while keeping capital planning front-and-center. The immediate neighborhood features one of the metro s highest renter concentrations and improving occupancy, pointing to durable tenant demand if operations and unit quality are managed effectively. According to CRE market data from WDSuite, local rents sit near the national middle and have advanced over the past five years, indicating room for value capture where supported by finishes and amenities.
Within a 3-mile radius, population and households have increased and are projected to expand further by 2028, implying a growing renter pool that can support leasing stability. Lower neighborhood home values relative to national norms reinforce reliance on rental housing, though rent-to-income levels suggest careful pricing and renewal strategies will be important to sustain retention.
- High neighborhood renter concentration supports depth of tenant demand.
- Recent occupancy gains at the neighborhood level indicate improving stability.
- 1978 vintage offers value-add potential via targeted renovations and modernization.
- Demographic growth within 3 miles suggests a larger renter pool over time.
- Risk: Below-median neighborhood safety and renter affordability pressure require prudent security and lease management.