Multifamily Redevelopment Opportunity Near
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410 Hayden Rd, Tallahassee, FL 32304
Multifamily property near FSU with redevelopment potential and income.
Property SizeContact for details
Days on Market187
Property Features for 410 Hayden Rd
General Information
Standard status
Active
Class
A
Property subtype
Multifamily
Building Details
Stories
1
Units
11
Listing Agency:
DEAN Real Estate
Listed By:
Wilson Dean · License #BK3238134
Source:
Crexi
Added: Mar 5
Changed: Sep 7
Last Checked: Sep 8 at 5:48AM
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 DEAN Real Estate
Investment Insights
Based on property information with market context.
This multifamily property features three buildings with a total of 11 units. The unit mix includes a duplex at 410 Hayden Rd with two 2-bedroom, 1-bathroom units and an on-site coin-operated laundry facility. A single-family home at 412 Hayden Rd offers 3 bedrooms and 2 bathrooms. The eight-unit building at 414 Hayden Rd consists of 1-bedroom, 1-bathroom units. The property is fully rented, generating a monthly rental income of $9,275. Market rent upside exists up to $11,050 if rented during peak season. Renovations and updates totaling approximately $60,000 have been completed over the past year, and around $25,000 was spent in 2024 to completely update or replace the existing water and sewer lines. The single family home at 412 Hayden Rd received a new roof in 2020. Many units feature new appliances and HVAC systems installed within the last 5 years. Zoning has been updated to University Transition, increasing the allowable lot density to 41 units. Civil engineering work has been completed, and the site is considered fully entitled by the city, with permits ready for submittal. The project utilized incentives per the MMTD to increase density, requiring a mixed-use development. The proposed ground-floor liner building is proposed to have onsite property management and/or leasing office space to meet this requirement.
Key Highlights
- Zoning updated to University Transition with allowable lot density increased to 41 units, offering significant redevelopment potential.
- Site is considered fully entitled from the city, with permits ready for submittal, streamlining the redevelopment process.
- Current occupancy is fully rented with a monthly rental income of $9,275, with market rent upside to $11,050.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
690
Businesses Nearby
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Business Placement
Demographics for 32304, FL
50,007
Population
23,296
Households
2.1
Avg Household Size
25
Median Age
36%
College-Educated
89%
High-School Grad
15.2 sq mi
ZIP Area
3,290
Density / Sq Mi
$30,823
Median Household Income
$14,475
Median Earnings
$1,132
Median Rent
$147,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily property near FSU with redevelopment potential and income.
Where is this multifamily property located?
The property is located at 410 Hayden Rd Tallahassee, FL.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Zoning updated to University Transition with allowable lot density increased to 41 units, offering significant redevelopment potential.; Site is considered fully entitled from the city, with permits ready for submittal, streamlining the redevelopment process.; Current occupancy is fully rented with a monthly rental income of $9,275, with market rent upside to $11,050.
