Tallahassee Brick Quad Investment
997 Sutor Road, Tallahassee, FL 32311
MULTI_FAMILY - Other - Tallahassee, FL
Property size:
3,108 SFLot size:
0.21 AcresPrice / SF:
$168/SF- Added:
- Apr 2, 2026
- Days on Market:
- 60
- Last Refresh:
- May 31 at 3:06 pm
Property Features for 997 Sutor Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 8
- Bathrooms
- 4
- Rooms
- Bedroom 5, Bathroom 2, Bedroom 4, Bedroom 8, Bathroom 3, Bathroom 4, Bedroom 6, Bedroom 3, Bedroom 2, Bathroom 1, Bedroom 7, Bedroom 1
- Parking features
- Assigned
- Patio and Porch features
- Patio, Deck
- Interior features
- Pantry
- Exterior features
- Deck, Fence, Storage
- Fencing
- Fenced
- Appliances
- Dryer, Dishwasher, Refrigerator, Washer
- Standard status
- Active
- APN
- 12073-31-03-61- A-002-0
- Size
- 3,108 SF
- Lot size
- 0.21 Acres
Taxes and HOA fees
- Tax Annual Amount
- 4572
Utilities
- Heating system
- Central, Electric (Heating)
- Cooling system
- Central Air, Electric
Building Details
- Year built
- 1981
- Floors in Building
- 2
- Number of units
- 4
- Flooring type
- Clay, Carpet, Vinyl, Varies, Tile
- Building materials
- Brick
- Architectural style
- Other
- Additional Structures
- Storage, Shed(s)
Listing agent Joseph Klenck License #3555950 (352) 514-4725
Listing office The Multifamily Advisors 5085 SW 125th Circle, FL (352) 871-8324
Listing date Apr 2, 2026
MLS# 398088
Listing URL
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.
HighLights
- High‑demand rental location in Tallahassee with easy access to universities, downtown, and Governor's Square.
- Strong rental income potential with three units currently occupied and generating $1,100/month each starting next month.
- Durable brick construction and roof replaced in 2011 offer long‑term reliability.
- One vacant unit is move‑in ready, providing immediate income potential.
- Each unit features a desirable 2‑bedroom/1‑bathroom layout with private covered patio/deck and in‑unit washer/dryer hookups.
- Located steps from A‑rated Lincoln High School.
Overview
Located in Tallahassee, Florida, this brick quad offers benefits from a state capital market with rental demand and a southeast location. Constructed in 1981 on 0.21 acres, the property is near Lincoln High School. Three of the four units are occupied and will have $1,100/month rental rates starting next month. Current tenants have occupied the property for an average of 2.5 years, with the longest tenancy being 4 years and the shortest tenancy over a year. One unit recently vacated and is ready for immediate move-in. All four units have identical layouts, each featuring 2 bedrooms and 1 bathroom within 777 square feet. Unit features include private covered patio/deck areas with outside washer/dryer utility rooms, spacious living room/kitchen areas, and ample cabinet space. Tenants are responsible for all utilities, including city water and sewer. The roof was replaced in 2011, and the building's brick construction provides durability. The total building size is 3,108 square feet across a single 2-story structure. Centrally located with access to Governor's Square, downtown Tallahassee, Florida State University, and FAMU, this asset sits in a rental corridor with a tenant base. This property has an occupancy history and rental rates.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $50.3k | $16.20 |
| − Vacancy | −$3.8k | −$1.23 |
| EGI | $46.5k | $14.97 |
| − OpEx | −$14.0k | −$4.49 |
| NOI | $32.6k | $10.48 |
3,108 SF · lease $16.20/SF/yr · vacancy 7.60% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$465.2K
$407.1K – $542.8K
NOI $32,566 @ 7.0% cap · market cap 6.20%
Second Best
Apartment 5plus
$404.4K
$353.9K – $471.8K
NOI $28,308 @ 7.0% cap · market cap 5.39%
Theoretical Best
Office A
$761.9K
$666.7K – $888.9K
NOI $53,336 @ 7.0% cap · market cap 10.16%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Tallahassee
- County
- Leon
- State
- Florida
- Longitude
- -84.212128
- Latitude
- 30.434203
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Quad property in Tallahassee with strong rental demand.
Where is this quadplex located?
The property is located at 997 Sutor Road Tallahassee, FL.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: High‑demand rental location in Tallahassee with easy access to universities, downtown, and Governor's Square.; Strong rental income potential with three units currently occupied and generating $1,100/month each starting next month.; Durable brick construction and roof replaced in 2011 offer long‑term reliability.
