Duplex with Updated Unit
New
For Sale
$375,000
5863 NIGHTINGALE Loop, Tallahassee, FL 32311
Residential, Tallahassee, FL
Property Size2,470 SF
Lot Size0.50 Acres
Price / SF$151.82
Days on Market3
Property Features for 5863 NIGHTINGALE Loop
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 5, Bedroom 3, Bedroom 2, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 4, Bedroom 6, Bedroom 1
Parking features
Assigned
Appliances
Dishwasher, Microwave, Range, Refrigerator
Subdivision
Adams Duplex Lots
Elementary school
CONLEY ELEMENTARY
Middle school
FAIRVIEW
High school
RICKARDS
Directions
Use GPS
Standard status
Active
APN
12073-32-21-01-000-003-0
Lot size
0.50 Acres
Taxes and HOA fees
Tax Annual Amount
2702
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air, Ceiling Fan(s), Electric
Building Details
Year built
2006
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Building materials
VinylSiding
Architectural style
Other
Listing Agency:
Superior Realty Group LLC
(850) 322-1649
Listed By:
Clint Bailey · License #3536984
(850) 879-2529
Added: Sep 17
Last Checked: Sep 19 at 1:06PM
MLS# 404992
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.
Built in 2006, this duplex contains approximately 2,470 square feet on approximately half an acre. The property is configured as two separate 3-bedroom, 2-bath residences, totaling 6 bedrooms and 4 bathrooms. Each unit includes a kitchen, living area, and laundry space, with assigned parking and vinyl siding.
One residence is occupied under a month-to-month tenancy and has a brand-new HVAC system plus a newer water heater. The second unit is vacant and includes recently installed flooring, new appliances, a new water heater, and newer HVAC equipment. The seller is also in the process of installing a new roof.
Located off Williams Road in Southeast Tallahassee, the duplex provides access to the Apalachee Parkway and Capital Circle corridors. The address is 5863 Nightingale Loop, Tallahassee, FL 32311.
One residence is occupied under a month-to-month tenancy and has a brand-new HVAC system plus a newer water heater. The second unit is vacant and includes recently installed flooring, new appliances, a new water heater, and newer HVAC equipment. The seller is also in the process of installing a new roof.
Located off Williams Road in Southeast Tallahassee, the duplex provides access to the Apalachee Parkway and Capital Circle corridors. The address is 5863 Nightingale Loop, Tallahassee, FL 32311.
Key Highlights
- Two separate 3‑bedroom, 2‑bath units totaling 6 bedrooms and 4 bathrooms
- Approximately 2,470 square feet on approximately half an acre
- Vacant unit features recently installed flooring, new appliances, a new water heater, and newer HVAC
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
$25,881
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
6.90%
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%
$517,620
$517.6K
Cap Rate 7%
$369,729
$369.7K
Cap Rate 9%
$287,567
$287.6K
Market Conditions
NOI Build-Up for 2,470 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
$40.0K $16.20/SF
− Vacancy
−$3.0K −$1.23/SF
EGI
$37.0K $14.97/SF
− OpEx
−$11.1K −$4.49/SF
NOI
$25.9K $10.48/SF
Area
Tallahassee, FL
Vacancy
7.60%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
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%
$517,620
Cap Rate 7%
$369,729
Cap Rate 9%
$287,567
Alternative Uses
Best Use
Multifamily LT 5
$369.7K
$323.5K – $431.4K
NOI $25,881 @ 7.0% cap · market cap 6.90%
Second Best
Apartment 5plus
$321.4K
$281.2K – $375.0K
NOI $22,497 @ 7.0% cap · market cap 6.00%
Theoretical Best
Office A
$605.5K
$529.9K – $706.5K
NOI $42,388 @ 7.0% cap · market cap 11.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
31
Businesses Nearby
Explore this area
Business Placement
Demographics for 32311, FL
21,218
Population
10,166
Households
2.1
Avg Household Size
39
Median Age
57%
College-Educated
96%
High-School Grad
56.5 sq mi
ZIP Area
376
Density / Sq Mi
$80,250
Median Household Income
$46,466
Median Earnings
$1,497
Median Rent
$288,900
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 Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer private kitchens, living areas, and laundry spaces.
Where is this duplex located?
The property is located at 5863 NIGHTINGALE Loop Tallahassee, FL.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two separate 3‑bedroom, 2‑bath units totaling 6 bedrooms and 4 bathrooms; Approximately 2,470 square feet on approximately half an acre; Vacant unit features recently installed flooring, new appliances, a new water heater, and newer HVAC
