Tallahassee Flex Warehouse For
For Sale
Contact for pricing
3360 Raymond Diehl Bus Lane Rd, Tallahassee, FL
3,000 SF fully conditioned flex warehouse in NE Tallahassee.
Property Size3,000 SF
Lot Size1.53 Acres
Price / SF$150
Days on Market853
Property Features for 3360 Raymond Diehl Bus Lane Rd
General Information
Standard status
Active
Size
3,000 SF
Lot size
1.53 Acres
Property subtype
OFFICE
Listing Agency:
Maximum One Realtor Partners
(678) 782-5050
Listed By:
Alan Richardson · License #327307
Source:
Moodyscre
Added: Apr 23, 2024
Changed: Aug 8
Last Checked: Aug 22 at 1:38PM
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 Maximum One Realtor Partners
Investment Insights
Based on property information with market context.
This 3,000 square foot flex warehouse is located in the northeast sector of Tallahassee. The fully conditioned interior is accessible through double glass doors. The unit features a full dock high level suitable for pallet-sized deliveries. The property's location provides convenient access to I-10 and Thomasville Road.
Key Highlights
- Fully conditioned flex warehouse with a fully conditioned interior.
- NE Tallahassee location near I‑10 and Thomasville Road.
- Access through double glass doors behind a full dock high level.
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
$23,378
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
5.20%
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%
$467,560
$467.6K
Cap Rate 7%
$333,971
$334.0K
Cap Rate 9%
$259,756
$259.8K
Market Conditions
NOI Build-Up for 3,000 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
$28.8K $9.60/SF
− Vacancy
−$1.3K −$0.43/SF
EGI
$27.5K $9.17/SF
− OpEx
−$4.1K −$1.38/SF
NOI
$23.4K $7.79/SF
Area
Tallahassee, FL
Vacancy
4.50%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
15.00%
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%
$467,560
Cap Rate 7%
$333,971
Cap Rate 9%
$259,756
Alternative Uses
Best Use
Warehouse
$334.0K
$292.2K – $389.6K
NOI $23,378 @ 7.0% cap · market cap 5.20%
Second Best
Flex RnD
$310.9K
$272.0K – $362.7K
NOI $21,762 @ 7.0% cap · market cap 4.84%
Theoretical Best
Office A
$735.5K
$643.5K – $858.1K
NOI $51,483 @ 7.0% cap · market cap 11.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
161
Businesses Nearby
Under-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.
Frequently Asked Questions
What type of property is this?
Flex space - 3,000 SF fully conditioned flex warehouse in NE Tallahassee.
Where is this flex space located?
The property is located at 3360 Raymond Diehl Bus Lane Rd Tallahassee, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Fully conditioned flex warehouse with a fully conditioned interior.; NE Tallahassee location near I‑10 and Thomasville Road.; Access through double glass doors behind a full dock high level.
