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    The Largest CRE Database in the US with Over 1 Million Listings

    847 E Park Ave Tallahassee, FL 32301

    Sponsored
    For Sale
    $425,000

    COMMERCIAL - Tallahassee, FL

    Lot size:
    0.30 Acres
    Days on Market:
    2
    Last Refresh:
    Jan 29 at 8:06 pm

    Property Features for 847 E Park Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    12073-11-31-20-468-000-0
    Parking
    9
    Lot size
    0.30 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Ceiling Fan(s), Central Air

    Building Details

    Number of units
    1
    Flooring type
    Carpet, Hardwood
    Building materials
    Frame

    We can help!

    Listing Contact
    Bonnie Scott-Walls

    Coldwell Banker Hartung and Noblin (850) 386-6160

    Listing agent Bonnie S Scott-Walls (850) 386-6160 License #3285193

    Listing date Jan 28, 2026

    MLS# 395486

    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.

    Learn more

    Property Insight Report

    Overview

    Historic Mixed-Use Building on Park

    This historic building on East Park Avenue in Tallahassee, Florida, presents a rare opportunity for ownership. The property is suitable for residential, office, or mixed-use purposes, making it ideal for professionals seeking a live-work space or investors desiring a versatile property. The building features six rooms and one and a half bathrooms. A covered front entry with double glass doors provides handicap accessibility. Additional features include visible roadside signage, nine parking spaces, and a circular driveway. The building also has a standing steel metal roof, a unique energy-efficient heat and cooling system, large wall-to-wall windows for natural light, hardwood flooring, a conference room, and built-in glass cabinets and shelving. A kitchen with a separate entrance and an additional side entrance offer flexible use options. The property, situated on a 0.3-acre lot, benefits from excellent exposure and easy access.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Matteson Rosen Kira Massage Therapist Healing Center Holistic Medicine Practitioner Heartwood Acupuncture & Herbal ... Medical Clinic Kirsch Michael C Acupuncture Clinic Atherton Sorrenti Chiropractic Health Consultant

    Suggested Use

    Realty agency Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Kitchen & Bath

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

    Location Insight

    • Map
    • Local Demand
    City
    Tallahassee
    County
    Leon
    State
    Florida
    Longitude
    -84.26805
    Latitude
    30.441536

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    FAQs

    What type of property is this?
    Mixed-use property - Historic, high-visibility building suitable for residential, office, or mixed-use.
    Where is this mixed-use property located?
    The property is located at 847 E Park Ave Tallahassee, FL.
    What is the asking price?
    The asking price for this property is $425,000.
    What are key features of this property?
    This property features: - High-visibility location on East Park Avenue ideal for residential, office, or mixed-use.; - 9 parking spaces plus a circular driveway and handicap accessible entry.; - Unique energy-efficient heat and cooling system.
    (850) 386-6160
    Request Owner's contact information
    847 E Park Ave Tallahassee, FL 32301
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    Tallahassee, FL 32301
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    847 E Park Ave Tallahassee, FL 32301
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    We can help!
    Listing Contact
    Bonnie Scott-Walls
    Real Estate License ID: 3285193
    (850) 386-6160
    Learn more
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