| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Best |
| Demographics | 78th | Best |
| Amenities | 12th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4501 W Shannon Lakes Dr, Tallahassee, FL, 32309, US |
| Region / Metro | Tallahassee |
| Year of Construction | 2000 |
| Units | 120 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
4501 W Shannon Lakes Dr Tallahassee Multifamily Investment
Neighborhood occupancy trends sit in the mid-90% range with a moderate renter-occupied share, pointing to steady leasing fundamentals, according to WDSuite s CRE market data. Positioning in a suburban pocket with stable demand supports durable cash flow potential.
Located in a suburban pocket of Tallahassee, the neighborhood posts an A- rating and ranks 23rd out of 143 metro neighborhoods, placing it in the top quartile locally. This indicates competitive fundamentals versus the broader metro, with neighborhood occupancy around the mid-90% range and rents near the metro middle, per WDSuite 27s data.
Construction skews older across the neighborhood (average late-1970s), while the subject property 27s 2000 vintage is newer than local stock. That typically supports competitive positioning against older assets, with potential to drive yield through targeted modernization as building systems approach renewal cycles.
The renter-occupied share in the neighborhood sits in the high-20% range, signaling a moderate renter concentration and a defined tenant base for multifamily. Within a 3-mile radius, population and household counts have expanded over the past five years, with further growth projected, which supports a larger tenant base and occupancy stability going forward.
Local amenity density is limited within the immediate neighborhood for restaurants, groceries, and parks, suggesting a more auto-oriented living pattern. Notably, childcare availability is comparatively strong for the metro, which can aid family-oriented retention. Elevated home values relative to incomes in the area reinforce sustained reliance on rentals, helping maintain demand depth and pricing power.
Safety signals are mixed. Relative to the Tallahassee metro, the neighborhood ranks 18th out of 143 on crime, indicating crime levels above the metro median. Nationally, however, several indicators land above average safety, including violent-offense measures that align with the top quartile nationally.
Recent trends diverge: property offenses have eased year over year, while violent incidents have risen. Investors should underwrite to these contrasting signals and track trajectory rather than relying on a single-year snapshot.
This 120-unit, 2000-vintage community benefits from competitive neighborhood positioning, a moderate renter base, and suburban fundamentals that have supported mid-90% neighborhood occupancy. According to CRE market data from WDSuite, rents and occupancy sit near or above metro norms while ownership costs remain elevated locally, which tends to sustain multifamily demand and lease retention. The asset 27s newer vintage versus the area 27s older stock provides relative competitiveness, with selective value-add or system upgrades offering potential to enhance NOI.
Growth within a 3-mile radius 26mdash;both realized and projected for population and households 26mdash;supports a larger tenant base over time. Limited walkable amenities and mixed safety trends warrant conservative underwriting and active management, but overall demand drivers and suburban stability provide an investable long-term thesis.
- Competitive neighborhood ranking within Tallahassee supports durable leasing demand
- 2000 vintage is newer than local stock, enabling targeted value-add and modernization
- Elevated ownership costs in the area reinforce multifamily demand and pricing power
- Expanding 3-mile population and household counts support tenant base growth and occupancy stability
- Risks: limited nearby amenities and mixed safety trends call for conservative underwriting