Medical Office
1612 W Plaza Dr Tallahassee, FL 32308
For Sale
Contact for pricing
Medical office building offering six exam rooms, three doctor’s offices, a waiting/reception area, and ample parking in Eastwood Office Plaza.
Property Size3,277 SF
Price / SF$175.47
Days on Market509
Property Features for 1612 W Plaza Dr
General Information
Standard status
Active
Size
3,277 SF
Property subtype
OFFICE
Listing Agency:
Coldwell Banker Hartung
(850) 980-4007
Listed By:
Lawrence "Chip" Hartung · License #BK139932
(850) 980-4007
Source:
Moodyscre
Added: Mar 7, 2025
Changed: Jul 26
Last Checked: Jul 26 at 7:06PM
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 Coldwell Banker Hartung
Investment Insights
Based on property information with market context.
This medical office building, built in 1980, offers approximately 3,277 square feet of flexible space designed for clinical and professional use. The floor plan includes six exam rooms, three doctor’s offices, a waiting room and reception area, five bathrooms, plus additional rooms and storage.
The property is located within Eastwood Office Plaza, a medical office complex that includes pharmacy, medical and specialty offices, dental, and other business offices. It has abundant parking and convenient access to Riggins Rd, Blair Stone Rd, and Mahan Dr.
The existing use is medical office. Zoning is PUD - Eastwood Office Plaza, and the parcel is identified as 112860 B0030.
The property is located within Eastwood Office Plaza, a medical office complex that includes pharmacy, medical and specialty offices, dental, and other business offices. It has abundant parking and convenient access to Riggins Rd, Blair Stone Rd, and Mahan Dr.
The existing use is medical office. Zoning is PUD - Eastwood Office Plaza, and the parcel is identified as 112860 B0030.
Key Highlights
- Medical office building approx. 3,277 SF built in 1980
- Floor plan includes 6 exam rooms, 3 doctor’s offices, a waiting room, and reception area
- Includes 5 bathrooms plus extra rooms and storage
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 | $68.8k | $21.00 |
| − Vacancy | −$15.1k | −$4.62 |
| EGI | $53.7k | $16.38 |
| − OpEx | −$13.4k | −$4.10 |
| NOI | $40.3k | $12.29 |
3,277 SF · lease $21.00/SF/yr · vacancy 22.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$575.1K
$503.2K – $671.0K
NOI $40,258 @ 7.0% cap · market cap 7.00%
Second Best
Healthcare Medical
$555.1K
$485.8K – $647.7K
NOI $38,860 @ 7.0% cap · market cap 6.76%
Theoretical Best
Office A
$803.4K
$703.0K – $937.3K
NOI $56,236 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- Animal Medical Clinic Tallahassee — 2701 Waldo Palmer Ln, Tallahassee, FL 32308
- Capital Veterinary Specialists — 1615 Mahan Center Blvd, Tallahassee, FL 32308
- Animal Eye Clinic — 1615 Mahan Center Blvd, Tallahassee, FL 32308
- Bevis Veterinary Hospital — 1919 Miccosukee Rd, Tallahassee, FL 32308
- Bevis Lucas DVM — 1919 Miccosukee Rd, Tallahassee, FL 32308
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office building offering six exam rooms, three doctor’s offices, a waiting/reception area, and ample parking in Eastwood Office Plaza.
Where is this medical office space located?
The property is located at 1612 W Plaza Dr Tallahassee, FL.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Medical office building approx. 3,277 SF built in 1980; Floor plan includes 6 exam rooms, 3 doctor’s offices, a waiting room, and reception area; Includes 5 bathrooms plus extra rooms and storage
