| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Good |
| Demographics | 40th | Fair |
| Amenities | 50th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1775 Belle Vue Way, Tallahassee, FL, 32304, US |
| Region / Metro | Tallahassee |
| Year of Construction | 2013 |
| Units | 21 |
| Transaction Date | 2019-12-20 |
| Transaction Price | $6,600,000 |
| Buyer | Belle Vue Balcony, LLC |
| Seller | 1775 Belle Vue, LLC |
1775 Belle Vue Way, Tallahassee FL Multifamily Investment
Renter demand is supported by a high neighborhood renter-occupied share and a large nearby young-adult population, according to WDSuite’s CRE market data. Recent occupancy has been relatively stable at the neighborhood level, offering investors a predictable baseline to underwrite while focusing on leasing and retention.
Located in an inner-suburb pocket of Tallahassee, the property benefits from neighborhood dynamics that skew renter-heavy and student-oriented, which can deepen the tenant base for smaller multifamily assets. Neighborhood occupancy has held generally steady in recent years, though it trails the metro median, suggesting leasing performance depends on active management and positioning, based on commercial real estate analysis from WDSuite.
The 2013 construction is newer than the neighborhood’s typical 1970s-era stock. That positioning can improve competitiveness versus older properties while still warranting routine capital planning over the next ownership cycle for systems and finishes.
Everyday retail convenience is a relative strength: grocery access ranks competitive among 143 Tallahassee neighborhoods and sits in the top quartile nationally, while restaurant density is also above national medians. In contrast, parks, cafes, and pharmacies are limited nearby, indicating residents may travel a bit farther for those amenities.
Within a 3-mile radius, population and household counts have risen and are projected to expand further by 2028, with a notably large 18–34 cohort. This supports a broader renter pool and can aid occupancy stability for well-managed properties. The neighborhood’s renter-occupied share is among the highest in the metro, reinforcing depth of demand for multifamily units; however, elevated rent-to-income ratios indicate affordability pressure that owners should monitor for pricing and renewal strategies. Neighborhood NOI per unit trends are competitive among Tallahassee neighborhoods, pointing to potential for durable operating performance when expenses are managed and units are well-positioned.
School options in the area benchmark below broader metro and national averages, which may matter for family-oriented demand but tends to be less central for student-focused leasing. Home values in the immediate area are comparatively lower than many neighborhoods nationwide, which can introduce some competition from entry-level ownership, though the high renter concentration historically sustains multifamily demand.
Safety metrics for the neighborhood track below national averages, and the area ranks in the lower half among 143 Tallahassee neighborhoods. Nationally, the neighborhood sits below the median for safety; however, recent year-over-year trends show modest declines in both violent and property offense rates, indicating gradual improvement. Investors should underwrite security measures and lighting, and consider tenant screening and partnership with local patrols to support resident retention.
This 2013-vintage asset sits in a renter-dense Tallahassee neighborhood with a sizable nearby 18–34 population and steady, if below-metro, neighborhood occupancy. The vintage is newer than much of the surrounding housing stock, offering competitive positioning versus older assets while still warranting periodic system updates. According to CRE market data from WDSuite, the neighborhood’s NOI per unit performance is competitive locally, and grocery/restaurant access adds day-to-day livability that supports leasing.
Key considerations include affordability pressure reflected in higher rent-to-income ratios, safety metrics below national medians, and fewer nearby parks and cafes. With disciplined lease management, targeted unit refreshes, and attention to on-site security, investors can position the property to capture demand from the area’s large renter pool and projected household growth within a 3-mile radius.
- Newer 2013 construction versus older neighborhood stock supports competitive positioning
- Renter-heavy area and large 3-mile young-adult cohort deepen the tenant base
- Grocery and restaurant access aids day-to-day livability and leasing
- Competitive neighborhood NOI per unit trends, per WDSuite, support operating potential
- Risks: affordability pressure (higher rent-to-income), below-median safety, and limited parks/cafes