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Midtown Mixed-Use Opportunity

259 E 7th, Tallahassee, FL 32303

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For Sale

$950,000

MULTI_FAMILY - Tallahassee, FL

Property size:

5,260 SF

Lot size:

0.46 Acres

Price / SF:

$180/SF

HighLights

Prime Midtown location, steps from Lake Ella and walking distance to shops, restaurants, and entertainment.
Zoned for both commercial and residential use, offering flexibility.
Two distinct structures: a 5,260 SF main building and a 1,801 SF residential building, providing multiple usage options.
Spacious 0.46‑acre lot with 24 parking spaces.
Recent upgrades including new roofs (2020) and brand‑new windows (December 2024).
Versatile main structure previously used as an upscale hair salon, demonstrating adaptability.

We can help!

Listing Contact

Brian Messer

For Sale

$950,000

MULTI_FAMILY - Tallahassee, FL

Property size:

5,260 SF

Lot size:

0.46 Acres

Price / SF:

$180/SF

Added:: Mar 28, 2025
Days on Market:: 443
Last Refresh:: Jun 13 at 10:06 pm

Property Features for 259 E 7th

General Information

Property type: Residential Multi Family
Property subtype: Other
Parking: 20
Standard status: Active
APN: 12073-21-25-43- A-001-0
Size: 5,260 SF
Lot size: 0.46 Acres

Building Details

Number of units: 2
Building materials: Brick

We can help!

Listing Contact

Brian Messer

Listing agent Brian Messer License #646515

Listing office The Naumann Group Real Estate 2050 Capital Circle NE, Tallahassee, FL

Listing date Mar 28, 2025

MLS# 383919

HighLights

Prime Midtown location, steps from Lake Ella and walking distance to shops, restaurants, and entertainment.
Zoned for both commercial and residential use, offering flexibility.
Two distinct structures: a 5,260 SF main building and a 1,801 SF residential building, providing multiple usage options.
Spacious 0.46‑acre lot with 24 parking spaces.
Recent upgrades including new roofs (2020) and brand‑new windows (December 2024).
Versatile main structure previously used as an upscale hair salon, demonstrating adaptability.

Overview

Located in the heart of Midtown Tallahassee, this property at 259 East 7th Avenue offers significant potential. The 0.46-acre lot features two structures and is zoned for both commercial and residential use. The main building, constructed in 1937, is a 5,260 square foot, two-story brick structure originally designed as four residential dwellings. It was most recently used as an upscale hair salon, demonstrating its adaptability for business or residential conversion. A 1,801 square foot, two-story residential building is located at the rear of the property, providing flexibility for rental income, owner-occupancy, or additional business use. The property includes 24 parking spaces and room for expansion, allowing for the development of additional residential units or increased commercial potential. Situated steps from Lake Ella and within walking distance of shops, restaurants, and entertainment, the property benefits from a prime Midtown location. Recent upgrades include new roofs in 2020 and new windows in December 2024. This property presents an investment opportunity in a sought-after district.

Local Financial Insights For Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$78.9k	$15.00
− Vacancy	−$5.9k	−$1.13
EGI	$73.0k	$13.88
− OpEx	−$21.9k	−$4.16
NOI	$51.1k	$9.71

5,260 SF · lease $15.00/SF/yr · vacancy 7.50% · expense 30.00%

Alternative Uses

Best Use

Retail

$729.8K

$638.6K – $851.5K (±1% cap)

NOI $51,088 @ 7.0% cap · market cap 5.38%

Second Best

Mixed Use

$710.1K

$621.3K – $828.5K (±1% cap)

NOI $49,707 @ 7.0% cap · market cap 5.23%

Theoretical Best

Office A

$1.29M

$1.13M – $1.50M (±1% cap)

NOI $90,267 @ 7.0% cap · market cap 9.50%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Nicole Everson Photography Photography Service Nina Nicole Photography Wedding Service Salon 259 Hair Salon Hill Mortgage Consulting Loan Service

Suggested Use

Location Insight

Map
Local Demand

City: Tallahassee
County: Leon
State: Florida
Longitude: -84.278352
Latitude: 30.457602

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What type of property is this?

Mixed-use property - Versatile property in Tallahassee's Midtown, suitable for commercial or residential.

Where is this mixed-use property located?

The property is located at 259 E 7th Tallahassee, FL.

What is the asking price?

The asking price for this property is $950,000.

What are key features of this property?

This property features: Prime Midtown location, steps from Lake Ella and walking distance to shops, restaurants, and entertainment.; Zoned for both commercial and residential use, offering flexibility.; Two distinct structures: a **5,260 SF main building** and a **1,801 SF residential building**, providing multiple usage options.

259 E 7th, Tallahassee, FL 32303

MULTI_FAMILY - Tallahassee, FL

Property Features for 259 E 7th

General Information

Building Details

We can help!

HighLights

Overview

Local Financial Insights For Retail

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Turn-Key Childcare Facility For Sale

Turnkey Office Building Near Downtown

Flex Office Warehouse Property

Flex Warehouse with Office

Turnkey Building Near Downtown Tallahassee

Renovated Downtown Tallahassee Brick Building

Profitable Tallahassee Restaurant with Drive-Thru

Mixed-Use Investment Opportunity

Waterfront Restaurant Opportunity on Lake Jackson

Historic Governor Bloxham House

Student Housing Investment Opportunity

Updated Office Condo with Five Suites

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