Multifamily
For Sale
$825,000
1305 Clay Street, Tallahassee, FL 32304
Separate utility metering supports tenant-level tracking of consumption.
Property Size6,992 SF
Price / SF$117.99
Days on Market53
Property Features for 1305 Clay Street
General Information
Standard status
Active
Size
6,992 SF
Property subtype
Multi Family Home
Lease Term
12 Months
Financials
Asking Price
$825,000
Gross Income
$98,700
Gross Rent Multiplier
8.3
Additional Details
Utilities to Site
Yes
Individually Metered Utilities
all utilities
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$6,538
Building Details
Building Size
6,992 SF
Year Built
1973
Stories
2
Units
7
Listing Agency:
EXP Realty, LLC
Listed By:
Jules Straker · License #3197962
(888) 883-8509
Source:
Bertpope
Added: Sep 14
Changed: Nov 4
Last Checked: Nov 5 at 4:48AM
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 EXP Realty, LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The multifamily property contains 6,992 square feet and was built in 1973. Utilities are individually metered, and tenants cover the associated costs.
The property has a GRM of 8.3.
The property has a GRM of 8.3.
Key Highlights
- 6,992 SF property
- Built in 1973
- GRM of 8.3
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,683
Cap Rate
7.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,273,660
$1.3M
Cap Rate 7%
$909,757
$909.8K
Cap Rate 9%
$707,589
$707.6K
Market Conditions
NOI Build-Up for 6,992 SF
Gross rent
$125.9K $18.00/SF
− Vacancy
−$10.1K −$1.44/SF
EGI
$115.8K $16.56/SF
− OpEx
−$52.1K −$7.45/SF
NOI
$63.7K $9.11/SF
Area
Tallahassee, FL
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,273,660
Cap Rate 7%
$909,757
Cap Rate 9%
$707,589
Alternative Uses
Best Use
Apartment 5plus
$909.8K
$796.0K – $1.06M
NOI $63,683 @ 7.0% cap · market cap 7.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.71M
$1.50M – $2.00M
NOI $119,989 @ 7.0% cap · market cap 14.54%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
512
Businesses Nearby
Explore this area
Business Placement
Demographics for 32304, FL
50,007
Population
23,296
Households
2.1
Avg Household Size
25
Median Age
36%
College-Educated
89%
High-School Grad
15.2 sq mi
ZIP Area
3,290
Density / Sq Mi
$30,823
Median Household Income
$14,475
Median Earnings
$1,132
Median Rent
$147,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Separate utility metering supports tenant-level tracking of consumption.
Where is this multifamily property located?
The property is located at 1305 Clay Street Tallahassee, FL.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 6,992 SF property; Built in 1973; GRM of 8.3
