Retail Building with New
1355 E Lafayette, Tallahassee, FL 32301
For Sale
New
$499,000
CommercialSale, Tallahassee, FL
Property Size4,480 SF
Lot Size0.17 Acres
Price / SF$111.38
Days on Market4
Property Features for 1355 E Lafayette
General Information
Property type
Property subtype
Security features
Subdivision
Standard status
APN
Lot size
Utilities
Heating system
Water source
Building Details
Number of units
Building materials
Buildings
Listing Agency:
Realty One Group Next Gen
(850) 391-7337
Listed By:
Danielle Andrews · License #3367252
(727) 433-2402
Added: Nov 6
Last Checked: Nov 9 at 4:06AM
MLS# 406870
Copyright © 2026 Tallahassee Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
At 1355 E Lafayette Street in Tallahassee, this two-story retail building contains 4,480 square feet on a 0.17-acre parcel. Constructed in 1974, it has block and concrete construction, central heating, and public water service. A new roof is in place, and the property carries Urban Pedestrian-1 (UP-1) zoning.
Key Highlights
- 4,480‑square‑foot, two‑story retail building
- 0.17‑acre parcel
- Urban Pedestrian‑1 (UP‑1) zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,512
Cap Rate
8.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$870,240
$870.2K
Cap Rate 7%
$621,600
$621.6K
Cap Rate 9%
$483,467
$483.5K
Market Conditions
NOI Build-Up for 4,480 SF
Gross rent
$67.2K $15.00/SF
− Vacancy
−$5.0K −$1.13/SF
EGI
$62.2K $13.88/SF
− OpEx
−$18.6K −$4.16/SF
NOI
$43.5K $9.71/SF
Area
Tallahassee, FL
Vacancy
7.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$870,240
Cap Rate 7%
$621,600
Cap Rate 9%
$483,467
Alternative Uses
Best Use
Retail
$621.6K
$543.9K – $725.2K
NOI $43,512 @ 7.0% cap · market cap 8.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.10M
$961.0K – $1.28M
NOI $76,881 @ 7.0% cap · market cap 15.41%
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
Location Intelligence
Trade Area within ½ mile
1,170
Businesses Nearby
522k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 47%
Dining 27%
Shops & Services 15%
Home Improvements & Furnishings 9%
Dillard's
Apparel
72,707 visits/mo
0.5 miles
Marshalls
Apparel
49,494 visits/mo
0.5 miles
Michaels
Shops & Services
43,776 visits/mo
0.5 miles
JCPenney
Apparel
40,729 visits/mo
0.4 miles
Olive Garden
Dining
32,603 visits/mo
0.5 miles
Demographics for 32301, FL
29,686
Population
17,029
Households
1.7
Avg Household Size
32
Median Age
45%
College-Educated
92%
High-School Grad
10.2 sq mi
ZIP Area
2,910
Density / Sq Mi
$50,412
Median Household Income
$34,271
Median Earnings
$1,200
Median Rent
$211,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Retail space in Tallahassee
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Retail space - Two levels, UP-1 zoning, and a recently replaced roof shape this commercial property.
Where is this retail space located?
The property is located at 1355 E Lafayette Tallahassee, FL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 4,480‑square‑foot, two‑story retail building; 0.17‑acre parcel; Urban Pedestrian‑1 (UP‑1) zoning
