| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 44th | Fair |
| Amenities | 33rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 516 W Jefferson St, Tallahassee, FL, 32301, US |
| Region / Metro | Tallahassee |
| Year of Construction | 1974 |
| Units | 48 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
516 W Jefferson St Tallahassee Multifamily Value-Add
Strong renter-occupied presence in the surrounding area and dense dining access support stable tenant demand, according to WDSuite’s CRE market data.
This Inner Suburb pocket of Tallahassee carries an A- neighborhood rating (ranked 34 among 143 metro neighborhoods), signaling competitive fundamentals for multifamily relative to the metro. Dining access is a standout strength with restaurant density in the top percentile nationally, while pharmacies are abundant; however, immediate café, grocery, and park options are limited within the neighborhood boundaries. For investors, this mix points to convenience for daily needs and nightlife, with some reliance on nearby districts for certain amenities.
Neighborhood operating performance skews favorable: NOI per unit is in the 95th percentile nationally, based on CRE market data from WDSuite, indicating strong income potential at the neighborhood level rather than for this specific property. At the same time, neighborhood occupancy trends sit below the metro median (ranked 110 of 143), suggesting room for operational improvement or targeted leasing strategies at the asset level.
Construction in the neighborhood averages 1990, and this property’s 1974 vintage is older. That age profile typically warrants capital planning for systems and common areas, but it can also create value-add opportunities where renovations enhance competitiveness against newer stock.
Within a 3-mile radius, demographics tilt young (a large share aged 18–34) with recent population and household growth and further increases projected over the next five years. A high share of renter-occupied housing units in this 3-mile area underscores depth of the tenant base, which can support occupancy stability and leasing velocity for well-positioned units.
Relative to the Tallahassee metro, the neighborhood’s crime ranking sits on the higher-crime side (ranked 26 out of 143 metro neighborhoods, where a lower rank indicates more crime). Nationally, violent offense exposure trends around the middle of the pack, while property crime compares less favorably.
Recent direction is constructive: both violent and property offense rates have declined year over year, with improvement pacing among the better-performing quartile of Tallahassee neighborhoods. Investors should underwrite prudent security measures and tenancy screening while recognizing the improving trajectory.
516 W Jefferson St offers a value-add path in a neighborhood with competitive income characteristics and a notably deep renter base. Neighborhood-level NOI per unit ranks in the top tier nationally, according to CRE market data from WDSuite, while restaurant and pharmacy access supports daily convenience and after-hours activity. The area’s 3-mile radius shows population growth and rising household counts, expanding the local renter pool and supporting leasing durability.
Built in 1974, the asset skews older than the neighborhood average, pointing to targeted capex and renovation upside to improve positioning versus newer stock. While neighborhood occupancy sits below the metro median and safety trends warrant practical oversight, recent crime rate declines and strong renter-occupied concentration suggest conditions supportive of stabilized operations for well-managed units.
- Deep renter base within 3 miles supports tenant demand and leasing stability
- Neighborhood NOI per unit ranks among the top nationally, signaling income potential (neighborhood metric)
- 1974 vintage enables value-add through modernization and selective capex
- Strong dining and pharmacy access enhance livability and retention
- Risks: below-metro neighborhood occupancy and metro-comparative safety require active management