| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Best |
| Demographics | 38th | Fair |
| Amenities | 58th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 800 W Virginia St, Tallahassee, FL, 32304, US |
| Region / Metro | Tallahassee |
| Year of Construction | 1981 |
| Units | 112 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
800 W Virginia St Tallahassee Multifamily Investment
Renter demand is supported by a high renter-occupied housing share and strong amenity density, according to WDSuite’s CRE market data. Expect steady leasing interest, with pricing power influenced by local affordability dynamics.
The property sits in an Inner Suburb pocket of Tallahassee rated A- (neighborhood rank 27 out of 143), placing it in the top quartile among metro neighborhoods. Amenity access is a notable strength: restaurants and cafes are competitive nationally, and parks and grocery options are solid relative to many peer areas. This concentration of daily needs supports convenience-driven renter appeal.
Renter-occupied housing accounts for a large share of neighborhood units (occupancy rental share 60.4%), indicating a deep tenant base for smaller-format units and workforce renters. Neighborhood occupancy is below the metro median (rank 109 of 143) but has trended up in recent years, suggesting leasing headwinds are manageable with attentive operations and product-market fit. Median contract rents sit near the national midpoint while local value-to-income ratios are elevated, reinforcing reliance on rental housing and supporting demand durability.
Within a 3-mile radius, demographic statistics show a sizable 18–34 population and growth in households, pointing to a larger tenant base over time. Projections through 2028 indicate continued population and household expansion, which supports occupancy stability and renewals for well-positioned assets.
The average construction year in the neighborhood skews late-1970s; at 1981, this asset is slightly newer than the local vintage, offering relative competitiveness versus older stock while still warranting targeted modernization to enhance leasing velocity and retention. For investors conducting multifamily property research, these neighborhood dynamics translate into durable demand with measured, operations-focused execution.
Safety outcomes are mixed versus national benchmarks. The neighborhood’s overall safety profile sits below the national midpoint (crime national percentile 31), and property offenses are comparatively elevated (national percentile 8). However, year-over-year trends point to improvement, with both violent and property offense rates declining in the most recent period. Compared with other Tallahassee areas, the neighborhood is mid-pack (crime rank 70 out of 143), underscoring the importance of property-level security, lighting, and resident engagement to support leasing and retention.
This 112-unit asset benefits from a large renter pool, strong daily-needs access, and a neighborhood that ranks competitively within the Tallahassee metro. According to CRE market data from WDSuite, NOI performance in the area is top quartile nationally and ranks among the best locally, supporting the case for stable operations with disciplined expense management. While neighborhood occupancy runs below the metro median, upward movement in recent years and a predominantly renter-occupied housing base underpin leasing depth for appropriately positioned units.
Built in 1981—slightly newer than the local late-1970s average—the property should remain competitive versus older stock, with value-add potential through targeted interior updates and system improvements. Investor focus should also account for affordability pressure (high rent-to-income ratios locally) and safety perception, balancing pricing with renewal strategy to sustain occupancy.
- Large renter base and amenity-rich location support durable leasing
- Area NOI performance is top quartile nationally and competitive locally
- 1981 vintage offers relative competitiveness with targeted value-add upside
- Neighborhood occupancy below metro median requires proactive leasing and retention
- Manage affordability pressures and safety perception to protect pricing power