| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Best |
| Demographics | 62nd | Good |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2166 W Pensacola St, Tallahassee, FL, 32304, US |
| Region / Metro | Tallahassee |
| Year of Construction | 2001 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2166 W Pensacola St, Tallahassee FL Multifamily Investment
Workforce-heavy renter demand and proximity to daily needs support consistent leasing potential, according to WDSuite’s CRE market data.
Located in Tallahassee’s inner-suburb corridor, the property sits in a neighborhood ranked 14th out of 143 metro neighborhoods (A rating), making it competitive among Tallahassee areas for multifamily investors. A newer 2001 vintage versus the neighborhood’s older average stock (1985) can help positioning against nearby properties while still warranting routine system updates over the hold to maintain competitiveness.
Daily-needs access is a strength: grocery and restaurant density rank near the top of the metro, with restaurants and pharmacies placing in high national percentiles. Café coverage is also strong. Parks and childcare options are thin locally, which may limit family-oriented appeal but aligns with a predominantly student/young-adult renter base.
Renter-occupied share in the neighborhood is very high (ranked 2nd of 143), indicating a deep tenant base and broad demand for multifamily units. Neighborhood occupancy has been stable but sits below the metro median, which points to the importance of competitive finishes, responsive management, and targeted leasing to sustain absorption and limit downtime.
Demographic statistics within a 3-mile radius show a large 18–34 population and a rising household count over the last five years, with further growth forecast. This supports a larger tenant base and ongoing renter pool expansion. Median incomes in the immediate neighborhood are on the lower side relative to the metro, so pricing strategy and product-fit matter for retention and lease trade-outs.
From a commercial real estate analysis lens, median contract rents have risen over the past five years, and neighborhood-level rent-to-income ratios suggest some affordability pressure. That backdrop favors durable demand for well-maintained, efficiently sized units and careful lease management to balance occupancy and rate.
Neighborhood safety trends are mixed when viewed against broader benchmarks. The area’s rank sits in the lower half of Tallahassee neighborhoods (82 out of 143), and national percentiles indicate below-average safety compared to many U.S. neighborhoods. Property and violent offense indicators have recently trended higher year over year. Investors should account for enhanced lighting, access control, and community engagement as part of operating plans, and evaluate block-level patterns with current data.
This location serves a broad workforce and student renter base with convenient access to daily services. Specific nearby employer distance data was not available in this dataset.
The 24-unit asset, built in 2001 with efficient average unit sizes, competes against an older neighborhood stock, offering a relative edge for leasing while still benefiting from selective modernization. Demand drivers include a high renter-occupied share in the neighborhood and strong amenity access (grocery, restaurants, pharmacies), balanced by below-metro occupancy that rewards hands-on management. According to CRE market data from WDSuite, neighborhood-level rents have grown over the past five years while rent-to-income ratios point to affordability pressure—favoring durable, value-conscious product and disciplined renewals.
Demographics within a 3-mile radius show population stability with household growth and a large 18–34 cohort, supporting ongoing renter pool expansion and occupancy stability over the long run. Key risks include affordability pressure, softer neighborhood occupancy versus the metro, and safety readings that warrant active property-level mitigation.
- 2001 vintage competes well versus older local stock; targeted updates can lift rentability
- High renter-occupied concentration signals depth of tenant base and leasing resilience
- Strong daily-needs access (grocery, restaurants, pharmacies) supports retention
- 3-mile household growth and large 18–34 cohort underpin renter demand
- Risks: below-metro occupancy, affordability pressure, and safety require active management