| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Best |
| Demographics | 66th | Best |
| Amenities | 52nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2600 Miccosukee Rd, Tallahassee, FL, 32308, US |
| Region / Metro | Tallahassee |
| Year of Construction | 1974 |
| Units | 92 |
| Transaction Date | 2021-10-28 |
| Transaction Price | $10,850,000 |
| Buyer | KRI CROSSINGS AT 2600 LLC |
| Seller | THE CROSSING AT 2600 LLC |
2600 Miccosukee Rd, Tallahassee FL Multifamily Investment
Neighborhood occupancy is solid and renter concentration is high, supporting demand durability according to WDSuite’s CRE market data. Positioning focuses on steady lease-up and retention rather than outsized rent growth.
This inner-suburb location in Tallahassee balances daily convenience with steady renter demand. Neighborhood occupancy is 93.1% (for the neighborhood, not the property), and the area ranks 15 of 143 metro neighborhoods (A rating), indicating competitive performance among Tallahassee neighborhoods based on CRE market data from WDSuite.
Access to essentials is a relative strength: pharmacies and groceries show competitive density (ranks 9 and 19 out of 143), and restaurants/cafés are well represented (ranks 18 and 10), which helps with daily livability and resident retention. The tradeoff is limited park and childcare options (both ranked 143 of 143), so on-site offerings or partnerships may matter for family-oriented tenants.
The share of renter-occupied housing units in the neighborhood is 50.5% (top national percentile range), signaling a deep tenant base and supporting multifamily demand. Within a 3-mile radius, households have increased while average household size has edged lower to 2.1, pointing to more small-household renters entering the market and reinforcing demand for efficient floor plans.
For pricing dynamics, neighborhood median contract rents sit in mid-to-upper regional bands and the rent-to-income ratio trends near 0.23, suggesting manageable affordability pressure that can aid lease retention. Median home values are mid-market for the region, which typically maintains reliance on rental housing and limits rapid move-outs to ownership, supporting occupancy stability.
Safety indicators are mixed. The neighborhood’s composite crime rank is 75 out of 143 Tallahassee neighborhoods, placing it around the metro midpoint, while national percentiles for violent and property offenses (approximately low 20s to low 30s) indicate below-average safety relative to neighborhoods nationwide. Recent year-over-year trends in both violent and property offenses have increased, so investors should underwrite prudent security measures and consider tenant communication practices.
This 92-unit asset, built in 1974, is older than the neighborhood’s average vintage, creating a clear value-add pathway through targeted renovations and systems upgrades. Neighborhood fundamentals are supportive: occupancy is competitive among Tallahassee sub-areas and renter concentration is high, pointing to a reliable tenant base. According to CRE market data from WDSuite, local amenities (groceries, pharmacies, restaurants, cafés) are a relative strength, aiding retention and day-to-day convenience.
Within a 3-mile radius, population has grown and households have expanded with smaller average sizes, which supports demand for smaller, efficient units and sustained leasing velocity. Mid-tier ownership costs and a moderate rent-to-income profile reinforce rental reliance and can help stabilize occupancy through cycles. Key underwriting considerations include capital planning for 1970s systems and pragmatic security strategies given recent safety trends.
- Renter concentration and competitive neighborhood occupancy support a durable tenant base.
- Older 1974 vintage offers value-add potential through interior and building systems upgrades.
- Amenity access (groceries, pharmacies, dining) strengthens livability and lease retention.
- 3-mile growth in households with smaller sizes aligns with demand for efficient floor plans.
- Risks: older systems capex and below-national-average safety metrics warrant conservative underwriting.