Tallahassee Warehouse For
For Sale
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1041 Aenon Church Rd, Tallahassee, FL
18,800 sq ft warehouse in Tallahassee, Florida.
Property Size18,800 SF
Lot Size1.72 Acres
Price / SF$79.79
Days on Market252
Property Features for 1041 Aenon Church Rd
General Information
Standard status
Active
Size
18,800 SF
Lot size
1.72 Acres
Property subtype
INDUSTRIAL
Listing Agency:
RCG Commercial Realty
(954) 554-1526
Listed By:
Alex Rich
(954) 554-1526
Source:
Moodyscre
Added: Nov 27, 2025
Changed: Jul 6
Last Checked: Jul 21 at 4:44AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RCG Commercial Realty
Investment Insights
Based on property information with market context.
This property is a warehouse located in Tallahassee, Florida. It offers 18,800 square feet of space and is intended for warehouse or industrial use.
Key Highlights
- 18,800 sq ft warehouse
- Located in Tallahassee, Florida
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
$127,520
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
8.50%
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%
$2,550,400
$2.6M
Cap Rate 7%
$1,821,714
$1.8M
Cap Rate 9%
$1,416,889
$1.4M
Market Conditions
NOI Build-Up for 18,800 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
$191.8K $10.20/SF
− Vacancy
−$9.6K −$0.51/SF
EGI
$182.2K $9.69/SF
− OpEx
−$54.7K −$2.91/SF
NOI
$127.5K $6.78/SF
Area
Tallahassee, FL
Vacancy
5.00%
Lease Rate
$10.20 /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%
$2,550,400
Cap Rate 7%
$1,821,714
Cap Rate 9%
$1,416,889
Alternative Uses
Best Use
Warehouse
$2.09M
$1.83M – $2.44M
NOI $146,505 @ 7.0% cap · market cap 9.77%
Second Best
Industrial
$1.82M
$1.59M – $2.13M
NOI $127,520 @ 7.0% cap · market cap 8.50%
Theoretical Best
Office A
$4.61M
$4.03M – $5.38M
NOI $322,626 @ 7.0% cap · market cap 21.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
69
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - 18,800 sq ft warehouse in Tallahassee, Florida.
Where is this warehouse located?
The property is located at 1041 Aenon Church Rd Tallahassee, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 18,800 sq ft warehouse; Located in Tallahassee, Florida
