Flex Retail Warehouse
For Sale
$425,000
3610 Crawfordville Rd, Tallahassee, FL 32305
Freestanding concrete block building with glass storefront, truck-high loading platform, and overhead door at the rear.
Property Size4,800 SF
Lot Size0.41 Acres
Days on Market43
Property Features for 3610 Crawfordville Rd
General Information
Standard status
Active
Size
4,800 SF
Lot size
0.41 Acres
Property subtype
Industrial
Zoning
M-1
Site & Location
Traffic Count
18,400 vehicles/day
Road Access
Yes
Building Details
Building Size
4,800 SF
Year Built
1974
Construction
concrete block
Listing Agency:
NAI TALCOR
Listed By:
Jim Taube, CCIM · License #672081
(850) 224-2300
Source:
Thebrokerlist
Added: Jul 25
Changed: Aug 27
Last Checked: Sep 5 at 3:40AM
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
Investment Insights
Based on property information with market context.
This freestanding retail/warehouse flex building is constructed with concrete block and features a glass storefront for customer-facing frontage. The rear includes a truck-high loading platform and an overhead door, supporting practical loading and service access. The lot is clear and level, providing usable outdoor space alongside the building.
The property has frontage on Crawfordville Rd. and access from Ridge Rd., with visibility and signage. AADT is listed at 18,400.
The site is located in Light Industrial (M-1) zoning, which supports a variety of commercial uses. The property includes a large cleared lot and is designed for both retail presence and light industrial/warehouse operations.
The property has frontage on Crawfordville Rd. and access from Ridge Rd., with visibility and signage. AADT is listed at 18,400.
The site is located in Light Industrial (M-1) zoning, which supports a variety of commercial uses. The property includes a large cleared lot and is designed for both retail presence and light industrial/warehouse operations.
Key Highlights
- Freestanding retail/warehouse space on 0.41 acres with concrete block construction and a glass storefront
- Truck‑high loading platform and rear overhead door for industrial/flex use
- Clear, level lot with frontage on Crawfordville Rd. and access from Ridge Rd.
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
$37,405
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
8.80%
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%
$748,100
$748.1K
Cap Rate 7%
$534,357
$534.4K
Cap Rate 9%
$415,611
$415.6K
Market Conditions
NOI Build-Up for 4,800 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
$46.1K $9.60/SF
− Vacancy
−$2.1K −$0.43/SF
EGI
$44.0K $9.17/SF
− OpEx
−$6.6K −$1.38/SF
NOI
$37.4K $7.79/SF
Area
Tallahassee, FL
Vacancy
4.50%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
15.00%
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%
$748,100
Cap Rate 7%
$534,357
Cap Rate 9%
$415,611
Alternative Uses
Best Use
Warehouse
$534.4K
$467.6K – $623.4K
NOI $37,405 @ 7.0% cap · market cap 8.80%
Second Best
Flex RnD
$497.4K
$435.2K – $580.3K
NOI $34,819 @ 7.0% cap · market cap 8.19%
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,373 @ 7.0% cap · market cap 19.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18,400 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
227
Businesses Nearby
Under-served
Demand for This Use
Explore this area
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Freestanding concrete block building with glass storefront, truck-high loading platform, and overhead door at the rear.
Where is this flex space located?
The property is located at 3610 Crawfordville Rd Tallahassee, FL.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Freestanding retail/warehouse space on 0.41 acres with concrete block construction and a glass storefront; Truck‑high loading platform and rear overhead door for industrial/flex use; Clear, level lot with frontage on Crawfordville Rd. and access from Ridge Rd.
