Prime Commercial Office Space
225 W Brevard Street Tallahassee, FL 32301
225 W Brevard Street, Tallahassee, FL, 32301
$450,000
For Sale
$450,000
Exceptional office space near Governor's Mansion and Capitol.
Property Size1,255 SF
Price / SF$358.57
Days on Market660
Property Features for 225 W Brevard Street
General Information
- Standard status
- Active
- Size
- 1,255 SF
- Property subtype
- Commercial/Industrial
Listing Agency
Armor Realty, Inc
(850) 893-2525
Listed by
Lindsey K McClellan · License #3507292
Source
Exitrealty
Added: Sep 25, 2024 Checked: Jul 16 at 8:09 am
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 Armor Realty, Inc
Investment Insights
Based on property information with market context.
This commercial office space is located two blocks from the Governor's Mansion and less than three miles from the Capitol. The property features three private offices, three open workstations, a spacious conference room, a kitchen, and a restroom. The interior is bright and clean. The roof, HVAC, plumbing, and electrical systems were replaced in 2016 during a complete renovation. Situated on a corner lot, the office space includes ample parking in a private lot, as well as designated handicap parking. The location is in a commercially zoned area and qualifies for the Urban Credit Tax.
Key Highlights
- Prime location: Two blocks from the Governor's Mansion and less than three miles from the Capitol.
- Significant financial benefits: Qualifies for the Urban Credit Tax.
- Ample parking: Private lot with designated handicap parking.
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 | $26.4k | $21.00 |
| − Vacancy | −$5.8k | −$4.62 |
| EGI | $20.6k | $16.38 |
| − OpEx | −$5.1k | −$4.10 |
| NOI | $15.4k | $12.29 |
1,255 SF · lease $21.00/SF/yr · vacancy 22.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$220.3K
$192.7K – $257.0K
NOI $15,418 @ 7.0% cap · market cap 3.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$307.7K
$269.2K – $359.0K
NOI $21,537 @ 7.0% cap · market cap 4.79%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Modern Professional Engineering
Engineering Consultant
Capital City Cleaners
(Bike/Boat/Book/etc) Store
Achieve Academy
High School
Construction Permitting Solutions
Construction Company
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Exceptional office space near Governor's Mansion and Capitol.
Where is this office units located?
The property is located at 225 W Brevard Street 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: Prime location: Two blocks from the Governor's Mansion and less than three miles from the Capitol.; Significant financial benefits: Qualifies for the Urban Credit Tax.; Ample parking: Private lot with designated handicap parking.
