Three-Unit Tenant-Occupied
For Sale
$355,000
1208 Springsax Road Unit A B C, Tallahassee, FL 32305
Three tenant-occupied units are offered with long-term occupancy in a triplex format.
Property Size2,160 SF
Price / SF$164.35
Days on Market150
Property Features for 1208 Springsax Road Unit A B C
General Information
Standard status
Active
Size
2,160 SF
Property subtype
Residential / Multi Family
Taxes and HOA fees
Annual Taxes
$2,981
Amenities
Yes, CentralAir, CeilingFans
Yes, Central, Electric
1
Clay, CeramicTile
No
Range, Refrigerator
Brick
Building Details
Tenancy
Multi
Listing Agency:
Keller Williams Town & Country
Listed By:
Brailey Horne · License #3596101
(850) 491-8099
Source:
Compass
Added: May 28
Changed: Oct 16
Last Checked: Oct 23 at 10:25AM
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
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Investment Insights
Based on property information with market context.
This triplex offers three separate units, all currently tenant occupied with long-term tenants. The property is being marketed as an investor opportunity, with current rents noted as below market value, subject to buyer verification of financials and lease details.
Showings are by appointment only and the tenants should not be disturbed. Access for viewings will be arranged with an accepted contract or proof of funds, if applicable.
The buyer is responsible for verifying all measurements, financials, and lease information, and the listing agent can provide additional details and a rent roll upon request.
Showings are by appointment only and the tenants should not be disturbed. Access for viewings will be arranged with an accepted contract or proof of funds, if applicable.
The buyer is responsible for verifying all measurements, financials, and lease information, and the listing agent can provide additional details and a rent roll upon request.
Key Highlights
- Triplex with three tenant‑occupied units
- All three units are tenant occupied with long‑term tenants
- Current rents are below market value, indicating potential future income growth
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,633
Cap Rate
6.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$452,660
$452.7K
Cap Rate 7%
$323,329
$323.3K
Cap Rate 9%
$251,478
$251.5K
Market Conditions
NOI Build-Up for 2,160 SF
Gross rent
$35.0K $16.20/SF
− Vacancy
−$2.7K −$1.23/SF
EGI
$32.3K $14.97/SF
− OpEx
−$9.7K −$4.49/SF
NOI
$22.6K $10.48/SF
Area
Tallahassee, FL
Vacancy
7.60%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$452,660
Cap Rate 7%
$323,329
Cap Rate 9%
$251,478
Alternative Uses
Best Use
Multifamily LT 5
$323.3K
$282.9K – $377.2K
NOI $22,633 @ 7.0% cap · market cap 6.38%
Second Best
Apartment 5plus
$281.0K
$245.9K – $327.9K
NOI $19,673 @ 7.0% cap · market cap 5.54%
Theoretical Best
Office A
$529.5K
$463.4K – $617.8K
NOI $37,068 @ 7.0% cap · market cap 10.44%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
10
Businesses Nearby
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Business Placement
Demographics for 32305, FL
19,199
Population
8,517
Households
2.3
Avg Household Size
40
Median Age
20%
College-Educated
83%
High-School Grad
96.0 sq mi
ZIP Area
200
Density / Sq Mi
$47,694
Median Household Income
$32,166
Median Earnings
$923
Median Rent
$154,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three tenant-occupied units are offered with long-term occupancy in a triplex format.
Where is this triplex located?
The property is located at 1208 Springsax Road Unit A B C Tallahassee, FL.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: Triplex with three tenant‑occupied units; All three units are tenant occupied with long‑term tenants; Current rents are below market value, indicating potential future income growth
