Automotive Service Shop with
For Sale
$1,300,000
897 N Monroe St, Tallahassee, FL 32303
Well-maintained automotive shop offers a spacious showroom with three roll-up doors plus office and a covered outdoor area.
Property Size5,457 SF
Days on Market112
Property Features for 897 N Monroe St
General Information
Standard status
Active
Size
5,457 SF
Total Parking Spaces
14
Property subtype
Retail
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Drive-In Doors
3
Building Details
Building Size
5,457 SF
Year Built
1966
Listing Agency:
TLG Real Estate Services
Listed By:
Bryan Cureton · License #670038
(850) 545-3687
Source:
Tlgproperty
Added: May 14
Changed: Sep 1
Last Checked: Sep 1 at 4:15PM
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 TLG Real Estate Services
Investment Insights
Based on property information with market context.
Former Super Dave automotive shop is available for sale, featuring a spacious showroom with three roll-up doors designed for service access and flexible vehicle-related use. The interior also includes a front lobby and office area with a reception desk. Additional functionality is provided by a large outdoor covered area, supporting work, staging, or overflow activities.
The property is located on N Monroe St in Midtown and includes fourteen parking spaces. A curb cut provides access to Thomasville Rd and N Monroe St, with direct connectivity to US 27 and the surrounding Tallahassee market. The site is less than one mile from downtown Tallahassee and is surrounded by a mix of retail, office, and commercial users.
Overall, the layout combines showroom capacity, service-friendly doors, and on-site covered exterior space with dedicated parking and street access for customer and staff use.
The property is located on N Monroe St in Midtown and includes fourteen parking spaces. A curb cut provides access to Thomasville Rd and N Monroe St, with direct connectivity to US 27 and the surrounding Tallahassee market. The site is less than one mile from downtown Tallahassee and is surrounded by a mix of retail, office, and commercial users.
Overall, the layout combines showroom capacity, service-friendly doors, and on-site covered exterior space with dedicated parking and street access for customer and staff use.
Key Highlights
- 1966‑built, well‑maintained automotive shop with a spacious showroom and three roll‑up doors
- Includes front lobby and office area with a reception desk
- Large covered outdoor area for additional vehicle or work space
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
$53,001
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
4.08%
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%
$1,060,020
$1.1M
Cap Rate 7%
$757,157
$757.2K
Cap Rate 9%
$588,900
$588.9K
Market Conditions
NOI Build-Up for 5,457 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
$81.9K $15.00/SF
− Vacancy
−$6.1K −$1.13/SF
EGI
$75.7K $13.88/SF
− OpEx
−$22.7K −$4.16/SF
NOI
$53.0K $9.71/SF
Area
Tallahassee, FL
Vacancy
7.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,060,020
Cap Rate 7%
$757,157
Cap Rate 9%
$588,900
Alternative Uses
Best Use
Retail
$757.2K
$662.5K – $883.4K
NOI $53,001 @ 7.0% cap · market cap 4.08%
Second Best
Industrial
$528.8K
$462.7K – $616.9K
NOI $37,015 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,647 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,953
Businesses Nearby
66k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 54%
Shops & Services 34%
Hotels & Casinos 12%
Whataburger
Dining
27,666 visits/mo
0.3 miles
Four Points by Sheraton, Tallahassee Downtown
Hotels & Casinos
7,674 visits/mo
0.5 miles
Wells Fargo
Shops & Services
6,530 visits/mo
0.3 miles
Bruegger's
Dining
4,988 visits/mo
0.4 miles
Dollar General
Shops & Services
3,819 visits/mo
0.4 miles
Demographics for 32303, FL
48,644
Population
24,864
Households
2
Avg Household Size
34
Median Age
46%
College-Educated
95%
High-School Grad
34.8 sq mi
ZIP Area
1,398
Density / Sq Mi
$63,123
Median Household Income
$37,702
Median Earnings
$1,324
Median Rent
$204,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Well-maintained automotive shop offers a spacious showroom with three roll-up doors plus office and a covered outdoor area.
Where is this auto shop located?
The property is located at 897 N Monroe St Tallahassee, FL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 1966‑built, well‑maintained automotive shop with a spacious showroom and three roll‑up doors; Includes front lobby and office area with a reception desk; Large covered outdoor area for additional vehicle or work space
