Office Condominium Suite with
1618 Mahan Center Blvd. Suite 103 Tallahassee, FL 32308
For Sale
$245,000
Vacant office condominium suite with reception, conference room, private offices, open workspace, kitchen, and two private restrooms.
Property Size1,225 SF
Price / SF$200
Days on Market8
Property Features for 1618 Mahan Center Blvd. Suite 103
General Information
- Standard status
- Active
- Size
- 1,225 SF
- Property subtype
- Office
Building Details
- Year Built
- 2006
Listing Agency:
NAI TALCOR - Tallahassee
(850) 251-5504
Listed By:
John W. McNeill, SIOR · License #FL #SL3173254
(850) 251-5504
Source:
Naitalcor
Added: Jul 17
Changed: Jul 18
Last Checked: Jul 23 at 5:47AM
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 NAI TALCOR - Tallahassee
Investment Insights
Based on property information with market context.
This well-maintained office condominium suite offers a functional layout including a reception area, conference room, private offices, open workspace, a kitchen, and two private restrooms. The suite is built in 2006 and is zoned C-2.
The office is located within the established Mahan Professional Center and is offered with convenient access to downtown Tallahassee, Capital Circle NE, Interstate 10, and both major hospitals. Ample parking is available on-site.
The suite is currently vacant and available for immediate occupancy. It may be purchased individually or as part of a three-unit office condominium portfolio.
The office is located within the established Mahan Professional Center and is offered with convenient access to downtown Tallahassee, Capital Circle NE, Interstate 10, and both major hospitals. Ample parking is available on-site.
The suite is currently vacant and available for immediate occupancy. It may be purchased individually or as part of a three-unit office condominium portfolio.
Key Highlights
- 1,225 SF office condominium suite built in 2006 with immediate occupancy
- Professional office layout includes reception area, conference room, private offices, and open workspace
- Includes a kitchen and two private restrooms
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 6.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$300.3K
$262.8K – $350.4K
NOI $21,022 @ 7.0% cap · market cap 8.58%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Dr. Lynn H. ...
Physician
A. Lynn Dolson, MD
Physician
Procom Consulting Llc
Consultant
Ace InfoTech LLC
Tech Support Center
Seva Technologies LLC
Professional Services
FAQs
What type of property is this?
Office units - Vacant office condominium suite with reception, conference room, private offices, open workspace, kitchen, and two private restrooms.
Where is this office units located?
The property is located at 1618 Mahan Center Blvd. Suite 103 Tallahassee, FL.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: 1,225 SF office condominium suite built in 2006 with immediate occupancy; Professional office layout includes reception area, conference room, private offices, and open workspace; Includes a kitchen and two private restrooms
