| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Good |
| Demographics | 51st | Fair |
| Amenities | 46th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8440 N Tamiami Trl, Sarasota, FL, 34243, US |
| Region / Metro | Sarasota |
| Year of Construction | 1973 |
| Units | 101 |
| Transaction Date | 2006-09-12 |
| Transaction Price | $6,800,000 |
| Buyer | OAKRIDGE APTS LLC |
| Seller | MARINER INVESTMENTS INC |
8440 N Tamiami Trl Sarasota Multifamily Investment
Positioned in a suburban Sarasota neighborhood with occupancy and renter demand supported by local amenities, this asset offers steady cash-flow potential, according to WDSuite’s CRE market data. All occupancy and tenure metrics reference the neighborhood, not the property.
The property sits in a Suburban area of the North Port–Sarasota–Bradenton metro with a B neighborhood rating. Amenity access is competitive among 218 metro neighborhoods, with grocery options and everyday services present, alongside a solid mix of cafes and restaurants; however, formal parks and pharmacies are limited nearby. Average school ratings trend above metro median (ranked 20 of 218), which can support family-oriented renter retention.
Neighborhood rents sit around the middle of the market, and the rent-to-income ratio ranks in the top national percentiles, indicating manageable rent burdens that can aid leasing and renewal performance. Median home values are elevated relative to incomes (high national percentile for value-to-income), reinforcing reliance on multifamily housing and pricing power for well-positioned assets.
Vintage context matters: the average neighborhood construction year is 1984, while this property was built in 1973. Older vintage suggests potential capital planning needs but also creates value-add or renovation levers to improve competitive standing versus newer stock.
Within a 3-mile radius, recent years show modest population softening but growth in total households and a projected increase through the next five years, alongside smaller average household sizes. This shift points to a larger tenant base and supports occupancy stability for well-managed multifamily assets. Renter-occupied share within 3 miles is expected to rise, indicating a deeper future renter pool.
Safety metrics for the neighborhood rank near the lower end among 218 metro neighborhoods and sit below national averages. Recent readings indicate higher relative rates of both property and violent offenses versus national benchmarks, with a recent uptick year over year. Investors commonly address this with visibility, lighting, and access-control enhancements, and by aligning marketing to residents prioritizing convenience and value.
Nearby employers provide a diversified employment base that supports local renter demand and commute convenience. The list below highlights corporate offices within a commutable radius that can help underpin leasing and retention.
- Airgas Store — industrial gases & supplies (3.2 miles)
- Jabil Circuit — electronics manufacturing (33.3 miles) — HQ
- Raymond James Financial — financial services (34.8 miles) — HQ
- Cardinal Health — healthcare distribution (36.1 miles)
- Tech Data — IT distribution (37.4 miles) — HQ
This 101-unit asset, built in 1973, is older than the neighborhood’s average vintage, creating a clear path for value-add upgrades to strengthen positioning against newer inventory. Neighborhood fundamentals show competitive amenity access, mid-market rents, and a rent-to-income profile that supports retention, while elevated ownership costs in the area help sustain reliance on rentals. Based on commercial real estate analysis from WDSuite, neighborhood occupancy trends are comparable to broader metro dynamics, suggesting potential for stable performance with focused operations.
Within a 3-mile radius, projections indicate population growth and a notable increase in households alongside smaller household sizes — dynamics that typically expand the renter pool and support leasing. Execution attention should include security enhancements given below-average safety readings and selective capital planning to modernize systems and finishes consistent with a 1970s build.
- Value-add runway: 1973 vintage offers renovation and systems upgrades to boost competitive position.
- Demand drivers: elevated ownership costs and mid-market rents support renter reliance and pricing power.
- Growing renter base: forecast household growth and smaller household sizes within 3 miles support occupancy stability.
- Metro-consistent occupancy: neighborhood performance tracks broader market levels, per WDSuite’s CRE market data.
- Risks: below-average safety and older systems require proactive security and capex planning.