Renovated Two-Story Office
1313 N GADSDEN ST Tallahassee, FL 32303
For Sale
Contact for pricing
Fully renovated two-story historic building with restored hardwood floors upstairs and polished concrete below in Tallahassee Midtown.
Property Size2,486 SF
Lot Size0.21 Acres
Price / SF$341.91
Days on Market17
Property Features for 1313 N GADSDEN ST
General Information
- Standard status
- Active
- Size
- 2,486 SF
- Lot size
- 0.21 Acres
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1931
Listing Agency:
Premier Commercial Group
(850) 566-3782
Listed By:
Logan Short · License #SL3604499
Source:
Crexi
Added: Jul 8
Changed: Jul 23
Last Checked: Jul 23 at 4:41PM
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 Premier Commercial Group
Investment Insights
Based on property information with market context.
1313 N Gadsden St presents a fully renovated historic, two-story commercial building. Recent capital improvements include new siding, windows, and gutters, along with substantial interior renovations. The layout includes original hardwood floors on the upper level and polished concrete on the lower level, supporting a range of office and flexible uses.
The property is located in Tallahassee’s Midtown district, directly across from multiple dining, fitness, and lifestyle destinations. Learning center tenant occupancy provides in-place income, with a recently executed 15-year lease featuring approximately $27/SF gross and 3% annual escalations, with meaningful lease term remaining. Local access is supported by nearby shopping, with Publix and Whole Foods approximately one mile away, Tallahassee Memorial HealthCare under 5 minutes, and both I-10 and Florida State University within 10 minutes. The building is designated OR-1, which supports a wide range of office and residential uses going forward.
The property is located in Tallahassee’s Midtown district, directly across from multiple dining, fitness, and lifestyle destinations. Learning center tenant occupancy provides in-place income, with a recently executed 15-year lease featuring approximately $27/SF gross and 3% annual escalations, with meaningful lease term remaining. Local access is supported by nearby shopping, with Publix and Whole Foods approximately one mile away, Tallahassee Memorial HealthCare under 5 minutes, and both I-10 and Florida State University within 10 minutes. The building is designated OR-1, which supports a wide range of office and residential uses going forward.
Key Highlights
- Fully renovated 1931 historic building with 2,150 SF across two stories
- 0.21‑acre site directly in Tallahassee Midtown
- Recent exterior and interior improvements include new siding, windows, gutters, and substantial interior renovations
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 | $52.2k | $21.00 |
| − Vacancy | −$11.5k | −$4.62 |
| EGI | $40.7k | $16.38 |
| − OpEx | −$10.2k | −$4.10 |
| NOI | $30.5k | $12.29 |
2,486 SF · lease $21.00/SF/yr · vacancy 22.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$436.3K
$381.8K – $509.0K
NOI $30,541 @ 7.0% cap · market cap 3.59%
Second Best
Hotel Hospitality
$151.8K
$132.9K – $177.1K
NOI $10,628 @ 7.0% cap · market cap 1.25%
Theoretical Best
Office A
$609.5K
$533.3K – $711.0K
NOI $42,662 @ 7.0% cap · market cap 5.02%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office buildings
FAQs
What type of property is this?
Office building - Fully renovated two-story historic building with restored hardwood floors upstairs and polished concrete below in Tallahassee Midtown.
Where is this office building located?
The property is located at 1313 N GADSDEN ST Tallahassee, FL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Fully renovated 1931 historic building with 2,150 SF across two stories; 0.21‑acre site directly in Tallahassee Midtown; Recent exterior and interior improvements include new siding, windows, gutters, and substantial interior renovations
