Two-Story Retail and Office
1355 E Lafayette Tallahassee, FL 32301
For Sale
$499,000
SINGLE_FAMILY - Tallahassee, FL
Property Size4,480 SF
Lot Size0.17 Acres
Price / SF$111.38
Days on Market374
Property Features for 1355 E Lafayette
General Information
Property type
Residential
Property subtype
Retail
Security features
Security
Standard status
Active
APN
12073-31-05-50- H-005-0
Lot size
0.17 Acres
Utilities
Heating system
Central
Water source
Public
Building Details
Number of units
1
Building materials
Block, Concrete
Listing Agency:
Realty One Group Next Gen
(850) 391-7337
Listed By:
Danielle Andrews · License #3367252
(727) 433-2402
Added: Jul 21, 2025
Changed: Jun 11
Last Checked: Jul 29 at 6:06PM
MLS# 388917
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.
Investment Insights
Based on property information with market context.
This two-story commercial building provides 4,480 square feet of space and was built in 1974. The property is situated on a 0.17-acre lot and includes a brand-new roof, offering immediate exterior durability for an owner-operator or investor. The existing configuration supports a mix of commercial and office-oriented uses under the current zoning framework.
Located at 1355 E Lafayette Street in Tallahassee, the building is described as being in the heart of the area with strong visibility. It is positioned just minutes from downtown and key arterial routes, which can support businesses that benefit from convenient city access.
Zoned Urban Pedestrian-1 (UP-1), the property allows for a variety of commercial, office, and mixed-use applications, giving buyers flexibility when selecting a concept or tenant mix. The seller is also offering $30,000 in concessions and incentives, which may help offset initial operating or occupancy costs. This combination of updated roofing, flexible zoning, and a walkable-centered designation makes the building a practical fit for a range of retail or office users seeking adaptable space.
Located at 1355 E Lafayette Street in Tallahassee, the building is described as being in the heart of the area with strong visibility. It is positioned just minutes from downtown and key arterial routes, which can support businesses that benefit from convenient city access.
Zoned Urban Pedestrian-1 (UP-1), the property allows for a variety of commercial, office, and mixed-use applications, giving buyers flexibility when selecting a concept or tenant mix. The seller is also offering $30,000 in concessions and incentives, which may help offset initial operating or occupancy costs. This combination of updated roofing, flexible zoning, and a walkable-centered designation makes the building a practical fit for a range of retail or office users seeking adaptable space.
Key Highlights
- $30,000 in concessions and incentives offered by seller.
- 4,480 SF two‑story commercial building.
- Zoned Urban Pedestrian‑1 (UP‑1) allowing for a variety of uses.
Financial Insights For Retail
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 | $67.2k | $15.00 |
| − Vacancy | −$5.0k | −$1.13 |
| EGI | $62.2k | $13.88 |
| − OpEx | −$18.6k | −$4.16 |
| NOI | $43.5k | $9.71 |
4,480 SF · lease $15.00/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Office B
$786.2K
$688.0K – $917.3K
NOI $55,037 @ 7.0% cap · market cap 11.03%
Second Best
Retail
$621.6K
$543.9K – $725.2K
NOI $43,512 @ 7.0% cap · market cap 8.72%
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.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Retail space - Two-story commercial building with a brand-new roof and UP-1 zoning for flexible commercial, office, or mixed-use use.
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: $30,000 in concessions and incentives offered by seller.; 4,480 SF two‑story commercial building.; Zoned Urban Pedestrian‑1 (UP‑1) allowing for a variety of uses.
