| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Best |
| Demographics | 76th | Best |
| Amenities | 39th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3255 Capital Cir NE, Tallahassee, FL, 32308, US |
| Region / Metro | Tallahassee |
| Year of Construction | 1983 |
| Units | 70 |
| Transaction Date | 2025-09-16 |
| Transaction Price | $4,500,000 |
| Buyer | CAPITAL RIDGE APARTMENTS FL OWNER LLC |
| Seller | RIPPLE RIDGE APARTMENTS LTD |
3255 Capital Cir NE, Tallahassee Multifamily Investment
Neighborhood occupancy is near the mid-90s with steady five-year improvement, suggesting durable renter demand in this inner-suburban corridor, according to WDSuite’s CRE market data.
Located in Tallahassee’s Inner Suburb, the area posts an A neighborhood rating (ranked 18 of 143 metro neighborhoods), signaling competitive livability within the metro. Grocery access is a relative strength (ranked 8 of 143 and top quartile nationally), and restaurant density is also strong (top quartile nationally), while cafes, parks, and pharmacies are limited locally—an operational consideration for on-site amenities and resident retention strategies.
The neighborhood’s renter-occupied share sits around one-third of housing units, indicating a meaningful but not dominant renter concentration; paired with near-95% neighborhood occupancy and positive five-year gains, this supports a stable base of multifamily demand. Median contract rents in the immediate neighborhood are moderate by national standards, and a balanced rent-to-income profile suggests manageable affordability pressure—useful for lease management and renewal planning.
Within a 3-mile radius, population and households have expanded over the past five years, with further growth projected by 2028. Rising median incomes and a shrinking average household size point to a larger tenant base and continued depth for smaller-unit demand, which can support occupancy stability and steady leasing velocity. The 3-mile area’s renter share near two-fifths further reinforces demand depth for multifamily, particularly workforce and convenience-oriented product, based on multifamily property research from WDSuite.
Human capital indicators are favorable: the neighborhood’s share of residents with a bachelor’s degree ranks among the top nationally, which often correlates with higher income trajectories and consistent rent collections. Home values are mid-range for the metro; in practice, this creates a high-cost ownership landscape relative to local incomes for some households, sustaining reliance on rental housing and supporting pricing discipline without overextending affordability.
Safety signals are mixed and should be interpreted in context. Metro rank data indicate comparatively higher crime levels within Tallahassee (crime rank 11 out of 143, where lower ranks reflect more incidents), while national benchmarking places the neighborhood above average for safety (around the 63rd percentile nationwide). Year-over-year trends point in a constructive direction: estimated violent offenses declined sharply and property offenses moved lower as well, according to WDSuite’s datasets.
For investors, the takeaway is trend-aware risk management: improvements in the past year are encouraging, but sustained monitoring, property-level security measures, and coordination with local stakeholders remain prudent underwriting considerations.
Built in 1983, the property is older than the neighborhood’s average vintage, which can present value-add potential through targeted renovations and systems upgrades. Neighborhood occupancy near the mid-90s and a renter base supported by solid 3-mile household growth point to a durable tenant pool and stable leasing backdrop. According to commercial real estate analysis from WDSuite, local homeownership costs and balanced rent-to-income levels help sustain rental demand and provide room for disciplined pricing without elevating retention risk.
Amenity access favors groceries and dining, while limited parks, pharmacies, and cafe density suggest on-site offerings and service convenience can differentiate. Safety metrics show recent improvement but mixed relative positioning, warranting standard operating focus on security and resident engagement. Overall, the asset’s location fundamentals and value-add profile offer an approachable path to durable cash flow with clear execution levers.
- Mid-90s neighborhood occupancy with improving five-year trend supports leasing stability
- 1983 vintage provides renovation and systems-upgrade upside for NOI lift
- 3-mile population and household growth expand the tenant base and support demand
- Strong grocery and dining access; opportunity to offset limited parks/pharmacies with on-site amenities
- Risk: mixed relative safety positioning despite recent improvement—plan for prudent security and monitoring