320-Bed Student Housing
New
For Sale
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400 Putnam Dr, Tallahassee, FL 32301
Student residences near Florida A&M University received substantial redevelopment work in 2023.
Property Size127,680 SF
Days on Market2
Property Features for 400 Putnam Dr
General Information
Standard status
Active
Size
127,680 SF
Property subtype
Student Housing
Occupancy
95%
Amenities
In-place rents are ~26% below the comparable average, creating clear mark-to-market upside while maintaining an attainable position within the market.
Comprehensively redeveloped in 2023 with seven roofs replaced in 2025, ALTURA Student Living offers a modern physical product with limited near-term capital needs.
Limited new off-campus supply serving FAMU contrasts with projected enrollment growth and 32K+ applications, supporting continued demand for ALTURA Student Living
ALTURA Student Living sits within Tallahassee's transforming Southside corridor, supported by $1.13B+ of recent public and private investment and continued infrastructure growth
ALTURA Student Living combines 320 beds, fully upgraded interiors and a market-leading amenity package, creating a differentiated institutional-scale housing option for FAMU students
ALTURA benefits from Tallahassee's 55,000+ student population across FAMU and FSU, providing a deep, diversified renter base that supports long-term student housing demand
Building Details
Building Size
127,680 SF
Year Renovated
2023
Units
80
Listed By:
Matt Prozzillo · License #License(s): FL: SL3348085
(407) 557-3888
Source:
Marcusmillichap
Added: Sep 26
Last Checked: Sep 26 at 2:39PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Matt Prozzillo
Investment Insights
Based on property information with market context.
ALTURA Student Living is a 320-bed apartment property in Tallahassee serving Florida A&M University. Major redevelopment work was completed in 2023, followed by replacement of seven roofs in 2025.
The property is located at 400 Putnam Dr in Tallahassee, Florida, and is positioned to serve the university’s student population.
The property is located at 400 Putnam Dr in Tallahassee, Florida, and is positioned to serve the university’s student population.
Key Highlights
- 320‑bed student housing property
- Major redevelopment completed in 2023
- Seven roofs replaced in 2025
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
442
Businesses Nearby
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Business Placement
Demographics for 32301, FL
29,686
Population
17,029
Households
1.7
Avg Household Size
32
Median Age
45%
College-Educated
92%
High-School Grad
10.2 sq mi
ZIP Area
2,910
Density / Sq Mi
$50,412
Median Household Income
$34,271
Median Earnings
$1,200
Median Rent
$211,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Student residences near Florida A&M University received substantial redevelopment work in 2023.
Where is this apartment building located?
The property is located at 400 Putnam Dr Tallahassee, FL.
What are key features of this property?
This property features: 320‑bed student housing property; Major redevelopment completed in 2023; Seven roofs replaced in 2025
