Two-Unit Retail
For Sale
$120,000
1710 thomasville Road, Tallahassee, FL 32303
CommercialSale, Tallahassee, FL
Property Size500 SF
Lot Size0.01 Acres
Price / SF$240
Days on Market265
Property Features for 1710 thomasville Road
General Information
Property type
Commercial Sale
Property subtype
Retail
Directions
South on Thomasville Road, Right onto Duval plaza
Subdivision
Leon
Standard status
Active
APN
12073-11-30-04- A-006-0
Lot size
0.01 Acres
Listing Agency:
Property Finders Nguyen Realty
(850) 999-2919
Listed By:
Matthew Smith · License #3476740
(850) 510-8601
Added: Jan 12
Changed: Aug 19
Last Checked: Oct 4 at 2:06AM
MLS# 394828
Copyright © 2026 Tallahassee Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This retail space consists of two approximate 500sqft units joined by French doors, creating a connected layout that can also be separated by installing a wall. The right-hand unit includes a conference area and a bathroom. The adjoining unit at 1708 Thomasville Road contains two office rooms, a storage room, and a bathroom.
The property is located at 1710 Thomasville Road in Tallahassee, directly across from Whole Foods. The combination of retail, service, and office areas provides a flexible configuration for commercial use, subject to applicable approvals.
The property is located at 1710 Thomasville Road in Tallahassee, directly across from Whole Foods. The combination of retail, service, and office areas provides a flexible configuration for commercial use, subject to applicable approvals.
Key Highlights
- Two approximate 500sqft units connected by French doors
- Right‑hand unit includes a conference area and bathroom
- Adjoining unit has two office rooms, storage, and bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$6,143
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.12%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$122,860
$122.9K
Cap Rate 7%
$87,757
$87.8K
Cap Rate 9%
$68,256
$68.3K
Market Conditions
NOI Build-Up for 500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$10.5K $21.00/SF
− Vacancy
−$2.3K −$4.62/SF
EGI
$8.2K $16.38/SF
− OpEx
−$2.0K −$4.10/SF
NOI
$6.1K $12.29/SF
Area
Tallahassee, FL
Vacancy
22.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$122,860
Cap Rate 7%
$87,757
Cap Rate 9%
$68,256
Alternative Uses
Best Use
Office B
$87.8K
$76.8K – $102.4K
NOI $6,143 @ 7.0% cap · market cap 5.12%
Second Best
Retail
$69.4K
$60.7K – $80.9K
NOI $4,856 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$122.6K
$107.3K – $143.0K
NOI $8,580 @ 7.0% cap · market cap 7.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,790
Businesses Nearby
Explore this area
Business Placement
Demographics for 32303, FL
48,644
Population
24,864
Households
2
Avg Household Size
34
Median Age
46%
College-Educated
95%
High-School Grad
34.8 sq mi
ZIP Area
1,398
Density / Sq Mi
$63,123
Median Household Income
$37,702
Median Earnings
$1,324
Median Rent
$204,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Retail space - Connected retail and office configuration with a conference area, storage, and multiple bathrooms.
Where is this retail space located?
The property is located at 1710 thomasville Road Tallahassee, FL.
What is the asking price?
The asking price for this property is $120,000.
What are key features of this property?
This property features: Two approximate 500sqft units connected by French doors; Right‑hand unit includes a conference area and bathroom; Adjoining unit has two office rooms, storage, and bathroom
