Class A Downtown Office
For Sale
Contact for pricing
Pending
122 S Calhoun St, Tallahassee, FL 32301
Class A office building with an open lobby and glass conference rooms, originally built in 1970 and renovated in 2006.
Property Size8,690 SF
Days on Market235
Property Features for 122 S Calhoun St
General Information
Standard status
Pending
Size
8,690 SF
Class
A
Property subtype
Office
Zoning
Central Core
Amenities
large open lobby
glass conference rooms
Building Details
Year Built
1970
Year Renovated
2006
Buildings
1
Listing Agency:
SVN Southland Commercial
Listed By:
Carlton Dean · License #AL 94214-0
(850) 524-2275
Source:
Crexi
Added: Mar 3
Changed: Oct 23
Last Checked: Oct 23 at 4:30AM
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 SVN Southland Commercial
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Investment Insights
Based on property information with market context.
This Class A office building contains 8,975 square feet of office space and features a large, open lobby along with unique glass conference rooms. Originally built in 1970 and tastefully renovated in 2006, the property blends an established build with more modern interior updates.
Located in the Central Core zoning area, the building is positioned about a 4-minute walk to the Capitol Building. The downtown Tallahassee setting supports a compact, walkable environment for office users.
With its lobby layout and conference room configuration already in place, the building provides a ready framework for professional office operations.
Located in the Central Core zoning area, the building is positioned about a 4-minute walk to the Capitol Building. The downtown Tallahassee setting supports a compact, walkable environment for office users.
With its lobby layout and conference room configuration already in place, the building provides a ready framework for professional office operations.
Key Highlights
- 8,975 SF Class A office building with a large, open lobby
- Features unique glass conference rooms
- Originally built in 1970 and renovated in 2006
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$106,757
Cap Rate
5.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,135,140
$2.1M
Cap Rate 7%
$1,525,100
$1.5M
Cap Rate 9%
$1,186,189
$1.2M
Market Conditions
NOI Build-Up for 8,690 SF
Gross rent
$182.5K $21.00/SF
− Vacancy
−$40.1K −$4.62/SF
EGI
$142.3K $16.38/SF
− OpEx
−$35.6K −$4.10/SF
NOI
$106.8K $12.29/SF
Area
Tallahassee, FL
Vacancy
22.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,135,140
Cap Rate 7%
$1,525,100
Cap Rate 9%
$1,186,189
Alternative Uses
Best Use
Office B
$1.53M
$1.33M – $1.78M
NOI $106,757 @ 7.0% cap · market cap 5.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.13M
$1.86M – $2.49M
NOI $149,129 @ 7.0% cap · market cap 7.46%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,701
Businesses Nearby
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Business Placement
Demographics for 32301, FL
29,686
Population
17,029
Households
1.7
Avg Household Size
32
Median Age
45%
College-Educated
92%
High-School Grad
10.2 sq mi
ZIP Area
2,910
Density / Sq Mi
$50,412
Median Household Income
$34,271
Median Earnings
$1,200
Median Rent
$211,900
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Class A office building with an open lobby and glass conference rooms, originally built in 1970 and renovated in 2006.
Where is this office building located?
The property is located at 122 S Calhoun St Tallahassee, FL.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 8,975 SF Class A office building with a large, open lobby; Features unique glass conference rooms; Originally built in 1970 and renovated in 2006
