Renovated Two-Story Office
For Sale
Contact for pricing
1313 N GADSDEN ST, Tallahassee, FL 32303
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 Market107
Property Features for 1313 N GADSDEN ST
General Information
Standard status
Active
Size
2,486 SF
Lot size
0.21 Acres
Property subtype
Retail, Office, Mixed Use
Zoning
OR1
Occupancy
40%
Lease Type
Gross
Net Operating Income
$51,000
Building Details
Year Built
1931
Year Renovated
2025
Buildings
1
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
Premier Commercial Group
Listed By:
Logan Short · License #SL3604499
(850) 566-3782
Source:
Crexi
Added: Jul 8
Changed: Oct 7
Last Checked: Oct 20 at 5:59PM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$30,541
Cap Rate
3.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$610,820
$610.8K
Cap Rate 7%
$436,300
$436.3K
Cap Rate 9%
$339,344
$339.3K
Market Conditions
NOI Build-Up for 2,486 SF
Gross rent
$52.2K $21.00/SF
− Vacancy
−$11.5K −$4.62/SF
EGI
$40.7K $16.38/SF
− OpEx
−$10.2K −$4.10/SF
NOI
$30.5K $12.29/SF
Area
Tallahassee, FL
Vacancy
22.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$610,820
Cap Rate 7%
$436,300
Cap Rate 9%
$339,344
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 authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,477
Businesses Nearby
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Business Placement
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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
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
