| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Good |
| Demographics | 71st | Best |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2100 Apalachee Pkwy, Tallahassee, FL, 32301, US |
| Region / Metro | Tallahassee |
| Year of Construction | 1981 |
| Units | 52 |
| Transaction Date | 2018-09-06 |
| Transaction Price | $6,200,000 |
| Buyer | CASTER KATY LEANN |
| Seller | GMC RIDGEWOOD LLC |
2100 Apalachee Pkwy Tallahassee Multifamily Opportunity
Amenity-rich corridor and a high renter-occupied share in the surrounding neighborhood signal a deep tenant base, according to WDSuite’s CRE market data. Directionally stable leasing fundamentals and accessible daily needs support durable demand for a 52-unit asset.
Positioned in an Inner Suburb of Tallahassee, the neighborhood is rated A and ranks 13 out of 143 metro neighborhoods, indicating it is competitive among Tallahassee neighborhoods. Dining and daily-needs access are strengths: restaurant, grocery, cafe, and pharmacy densities sit in the top quartile nationally, supporting convenience and renter appeal. By contrast, publicly mapped childcare and park access are limited in this immediate neighborhood, which may modestly temper family-oriented demand.
Renter tenure is a defining characteristic: about 68% of housing units are renter-occupied in the neighborhood, pointing to a large and active multifamily renter base that can aid leasing velocity and retention management for similar assets. Neighborhood occupancy is reported at 89%, which suggests generally stable performance but still leaves room for asset-level differentiation through operations and amenities.
Within a 3-mile radius, the population and household counts have grown over the last five years and are projected to continue expanding, indicating a larger tenant base ahead. Forecasts point to additional increases in households alongside a slight downshift in average household size, which typically expands the pool of prospective renters and supports occupancy stability.
Ownership costs sit in a relatively high-cost context for the neighborhood (value-to-income ratios above national medians), reinforcing reliance on multifamily rentals, while the neighborhood’s rent-to-income ratio around 22% suggests manageable affordability pressure for many renters — a positive for lease retention and steady collections. Contract rents have advanced over five years, in line with broader metro dynamics, supporting revenue growth potential without overreliance on outsized rent steps.
Safety indicators are mixed and warrant routine risk management. The neighborhood’s crime profile ranks 57 out of 143 Tallahassee metro neighborhoods, which is below the metro median and aligns with a less favorable position locally. Nationally, the area sits below the median for safety; property offenses are elevated compared with many U.S. neighborhoods, while violent incidents trend closer to the national middle.
Recent momentum is constructive: violent offense rates show improvement year over year compared with many neighborhoods nationwide. For investors, this points to the importance of standard security measures, lighting, and resident engagement to help support tenant satisfaction and retention over the hold period.
This 52-unit asset at 2100 Apalachee Pkwy benefits from strong neighborhood fundamentals for workforce renters: top-quartile access to restaurants, groceries, and pharmacies, plus a high share of renter-occupied housing that deepens the local tenant base. Within a 3-mile radius, recent and projected growth in population and households supports a larger renter pool and, by extension, occupancy stability. According to CRE market data from WDSuite, neighborhood occupancy is steady and rents have advanced over the past five years, suggesting room for disciplined value capture through operations rather than aggressive pricing alone.
The ownership landscape is comparatively high-cost relative to local incomes, which tends to sustain reliance on rental housing and helps underpin leasing demand. At the same time, rent levels align with rent-to-income ratios that indicate manageable affordability pressure, a constructive backdrop for retention and collections. Key watch items include limited nearby parks/childcare and a below-median safety position locally, both of which can be addressed through amenity programming and property-level security best practices.
- Amenity-dense corridor (top-quartile national access to food and daily needs) supports renter appeal and leasing stability.
- High neighborhood renter-occupied share signals a deep tenant base for a 52-unit property.
- 3-mile radius growth in population and households expands the renter pool and supports occupancy over time.
- Ownership costs relative to incomes reinforce rental demand, while rent-to-income ratios indicate manageable affordability pressure.
- Risks: below-median local safety and limited parks/childcare; mitigate with proven security and resident-focused amenity strategies.