| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Best |
| Demographics | 79th | Best |
| Amenities | 47th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1600 Eagles Landing Blvd, Tallahassee, FL, 32308, US |
| Region / Metro | Tallahassee |
| Year of Construction | 1988 |
| Units | 120 |
| Transaction Date | 1998-11-13 |
| Transaction Price | $3,890,000 |
| Buyer | EAGLES LANDING LTD |
| Seller | THAMES WILLIAM G |
1600 Eagles Landing Blvd Tallahassee Multifamily Opportunity
Neighborhood occupancy remains strong with stable renter demand and supportive incomes, according to WDSuite’s commercial real estate analysis for the Tallahassee metro.
Positioned in an Inner Suburb of Tallahassee, the neighborhood ranks 4th out of 143 metro neighborhoods (A+ rating), signaling competitive fundamentals within the metro. According to WDSuite’s CRE market data, neighborhood occupancy is elevated (ranked 19 of 143; 90th percentile nationally), which points to consistent leasing and low downtime for well-positioned multifamily assets. Note that these metrics describe the neighborhood, not the property.
Livability drivers are diversified: restaurants and cafes post above-median national density (restaurant 70th percentile; cafe 76th), and parks access trends in the 82nd percentile nationally, supporting day-to-day convenience. Grocery presence is near national mid-range (54th percentile), while pharmacy access is comparatively thin locally, an operational consideration for residents and property managers.
Demand depth is reinforced by a meaningful renter-occupied share at the neighborhood level (48.1% of housing units are renter-occupied; 87th national percentile), which expands the tenant pool for multifamily operators. Median contract rent in the neighborhood tracks around the national upper-mid range and sits alongside a rent-to-income ratio near 0.15, suggesting manageable affordability pressure that can support retention and disciplined pricing. For investors, that combination often underpins steady absorption rather than volatile turnover.
Within a 3-mile radius, demographics indicate population growth of roughly 6% since the prior period and a 7.7% increase in households, expanding the renter base. Forward-looking data points to additional renter pool expansion by 2028 (population projected up ~9% and households up ~36%), which, if realized, should support occupancy stability and lease-up velocity. Household incomes in the 3-mile radius have risen, and the ownership market skews higher-value relative to incomes locally, factors that tend to sustain reliance on rental options without unduly stressing rent-to-income levels.
Vintage context: the property was built in 1988, earlier than the neighborhood average vintage (1995). This age profile suggests potential value-add via targeted interior updates and systems modernization, with corresponding capital planning considerations to enhance competitive positioning against newer stock.
Safety trends are mixed in comparative terms. At the metro level, the neighborhood’s crime rank of 20 out of 143 indicates higher crime exposure than many Tallahassee peers, but nationally the area sits around the mid-range (55th percentile for overall crime), according to WDSuite’s CRE market data. Importantly, recent momentum shows improvement: estimated violent offense rates declined by about 41.7% year over year (82nd national percentile for improvement), and property offense rates fell roughly 24.7% (68th percentile). These are neighborhood-level indicators and may reflect broader enforcement and community trends rather than property-specific conditions.
This 120-unit multifamily asset in Tallahassee benefits from a neighborhood with consistently high occupancy and a sizable renter-occupied housing base, reinforcing demand resilience. Based on CRE market data from WDSuite, the area’s rent-to-income profile and competitive amenity access support retention while allowing disciplined rent strategies. Within a 3-mile radius, recent gains in population and households—and projections for continued growth—point to a larger tenant base and support for long-run leasing stability.
Constructed in 1988, the asset is older than the neighborhood’s average vintage, creating a clear value-add pathway through selective renovations and systems upgrades to improve relative competitiveness against newer stock. Execution should be paired with prudent operations given local safety differentials within the metro and lighter pharmacy access, both of which can be mitigated through resident experience programming and targeted service partnerships.
- Strong neighborhood occupancy and sizable renter-occupied share support demand stability.
- 3-mile radius shows population and household growth, with forecasts indicating a larger renter base by 2028.
- Rent-to-income dynamics and amenity access favor retention and measured pricing power.
- 1988 vintage offers value-add potential via renovations and system modernization.
- Risks: relative crime positioning within the metro and thinner pharmacy access warrant active management.