Leased Office Condo For
106-1618 Mahan Center Blvd, Tallahassee, FL 32308
Leased office condo in Northeast Tallahassee, generating immediate income.
Property size:
1,225 SFPrice / SF:
$224/SF- Added:
- Apr 27, 2026
- Days on Market:
- 36
- Last Refresh:
- May 19 at 11:28 pm
Property Features for 106-1618 Mahan Center Blvd
General Information
- Standard status
- Active
- Size
- 1,225 SF
Listing agent Nancy DiGisi License #3400131 (850) 567-6272
Listing office Keller Williams Town & Country (850) 567-6272
Listing date Apr 27, 2026
Source Exprealty
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 Keller Williams Town & Country
HighLights
- Fully leased through July 2028, providing immediate income.
- Built‑in rent increases offer potential for increased returns.
- Repositioned pricing creates attractive value for investors.
- Functional layout includes reception area, conference room, open workspace, private executive office, wet bar and private restroom.
- Located in a desirable Northeast Tallahassee office park.
- Excellent parking for clients and staff.
Overview
This 1,225 square foot office condo, located in Northeast Tallahassee, is fully leased through July 2028 and offers immediate income with built-in rent increases. The functional layout includes a reception area, conference room, open workspace, private executive office, wet bar, and private restroom. The property provides parking for clients and staff within a professional setting just inside Capital Circle off Mahan Drive. Two additional units in the same complex are also available, including one leased and one vacant space.
Local Financial Insights For Office B
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 | $25.7k | $21.00 |
| − Vacancy | −$5.7k | −$4.62 |
| EGI | $20.1k | $16.38 |
| − OpEx | −$5.0k | −$4.10 |
| NOI | $15.0k | $12.29 |
1,225 SF · lease $21.00/SF/yr · vacancy 22.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$215.0K
$188.1K – $250.8K
NOI $15,049 @ 7.0% cap · market cap 5.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$300.3K
$262.8K – $350.4K
NOI $21,022 @ 7.0% cap · market cap 7.64%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Office Units
Location Insight
- Map
- Local Demand
- City
- Tallahassee
- County
- Leon
- State
- Florida
- Longitude
- -84.235685
- Latitude
- 30.457979
Nearby Similar for Sale
FAQs
What type of property is this?
Office units - Leased office condo in Northeast Tallahassee, generating immediate income.
Where is this office units located?
The property is located at 106-1618 Mahan Center Blvd Tallahassee, FL.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Fully leased through July 2028, providing immediate income.; Built‑in rent increases offer potential for increased returns.; Repositioned pricing creates attractive value for investors.
