| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Good |
| Demographics | 44th | Fair |
| Amenities | 42nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3025 S Adams St, Tallahassee, FL, 32301, US |
| Region / Metro | Tallahassee |
| Year of Construction | 2000 |
| Units | 96 |
| Transaction Date | 2014-10-17 |
| Transaction Price | $5,580,600 |
| Buyer | 3025 S ADAMS ST LLC |
| Seller | UNIVERSITY COURTYARD OWNER LLC |
3025 S Adams St Tallahassee Multifamily Investment
Neighborhood data points to durable renter demand supported by a high renter-occupied share and occupancy around the metro median, according to WDSuite’s CRE market data. Positioning emphasizes steady lease-up potential in an inner-suburb location with improving demographics nearby.
Located in Tallahassee’s inner-suburb fabric, the area around 3025 S Adams St balances everyday necessities with access to job centers. Grocery access is competitive among Tallahassee neighborhoods (ranked 22 out of 143 in the metro), while restaurants are likewise competitive (34 of 143), though cafes and pharmacies are comparatively limited. These dynamics suggest daily convenience for residents, with scope for amenity growth over time.
The property’s 2000 construction is newer than the neighborhood’s average vintage (1983), supporting relative competitiveness versus older stock. Investors should still budget for modernization of systems and common areas typical for assets at this age, which can improve leasing velocity and retention.
Multifamily demand is reinforced by a high neighborhood renter concentration (about two-thirds of housing units are renter-occupied), indicating depth in the tenant base rather than relying on homeowners turning to rent. Neighborhood occupancy trends near the metro median point to stable leasing conditions rather than outsized volatility.
Within a 3-mile radius, demographics show population and household growth, with projections indicating further expansion — a larger tenant base that can support occupancy stability and future rent roll durability. Household sizes have edged slightly smaller over time, consistent with roommate and small-family configurations that align with larger floor plans found at many late-1990s/2000 assets.
Home values in the neighborhood are lower than national norms, which can create some competition from ownership options; however, the elevated renter share and steady occupancy suggest rental housing remains a primary choice for many households. Rent-to-income levels point to some affordability pressure, so operators should emphasize lease management and value retention over purely price-led strategies.
Safety indicators are mixed. The neighborhood’s overall safety profile sits below national medians (lower national percentiles indicate comparatively higher crime), with property crime elevated by national comparison. At the same time, violent offenses have trended down year over year, a constructive directional signal for operators managing resident perceptions and retention.
Relative to Tallahassee, conditions are competitive in some categories but not top-tier; investors should underwrite with pragmatic assumptions for security measures and community engagement, while recognizing the recent improvement trend in violent incidents.
This 96-unit asset, built in 2000, benefits from a renter-driven neighborhood where occupancy runs near the metro median and the renter-occupied share is high — a foundation for demand resilience. Within a 3-mile radius, population and household growth point to a larger tenant base ahead, supporting leasing stability and potential rent roll expansion. Based on CRE market data from WDSuite, the location’s amenity mix is serviceable (stronger in groceries/restaurants than cafes/pharmacies), favoring workforce renters who value commute convenience and daily needs over lifestyle retail.
Vintage positioning offers a straightforward value-add path: units and common areas can be refreshed to outperform older 1980s stock nearby, while asset systems should be assessed for targeted reinvestment. Ownership costs in the neighborhood are relatively accessible by national standards, which can create competitive pressure, but the high renter concentration and steady occupancy mitigate churn risk when operations emphasize service quality and affordability management.
- Renter-driven neighborhood and occupancy near metro median support stable demand
- 2000 vintage provides competitive edge versus older stock with clear renovation upside
- 3-mile population and household growth expand the tenant base and support retention
- Amenity mix favors daily needs; efficient operations can capture workforce leasing
- Risks: below-national safety percentiles and ownership competition warrant prudent underwriting