Freestanding Retail Building For
For Sale
$450,000
1449 E Lafayette St, Tallahassee, FL 32301
3,400 SF retail building in high-traffic location.
Property Size3,400 SF
Price / SF$132.35
Days on Market92
Property Features for 1449 E Lafayette St
General Information
Standard status
Active
Size
3,400 SF
Property subtype
Free Standing Building
Building Details
Building Size
3,400 SF
Year Built
1956
Listing Agency:
NAI TALCOR
(850) 224-2300
Listed By:
Jim Taube, CCIM · License #672081
(850) 224-2300
Source:
Thebrokerlist
Added: May 18
Changed: Aug 10
Last Checked: May 18 at 8:05PM
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 NAI TALCOR
Investment Insights
Based on property information with market context.
This freestanding retail building offers 3,400 square feet of space suitable for various retail purposes. The property benefits from high visibility, signage opportunities, and front door parking. Situated in a high-traffic area, its Urban Pedestrian Zoning (UP-2) accommodates a wide range of intensive commercial uses. The location is just off Apalachee Parkway, across from Governor's Square Mall.
Key Highlights
- High‑traffic location ensures maximum exposure for your business.
- Urban Pedestrian Zoning (UP‑2) allows for a wide variety of intense commercial uses.
- Great visibility with prominent signage opportunities.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,023
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.34%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$660,460
$660.5K
Cap Rate 7%
$471,757
$471.8K
Cap Rate 9%
$366,922
$366.9K
Market Conditions
NOI Build-Up for 3,400 SF
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.
Gross rent
$51.0K $15.00/SF
− Vacancy
−$3.8K −$1.13/SF
EGI
$47.2K $13.88/SF
− OpEx
−$14.2K −$4.16/SF
NOI
$33.0K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$660,460
Cap Rate 7%
$471,757
Cap Rate 9%
$366,922
Alternative Uses
Best Use
Retail
$471.8K
$412.8K – $550.4K
NOI $33,023 @ 7.0% cap · market cap 7.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$833.5K
$729.3K – $972.5K
NOI $58,347 @ 7.0% cap · market cap 12.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,383
Businesses Nearby
681k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 38%
Dining 29%
Shops & Services 19%
Home Improvements & Furnishings 7%
Dillard's
Apparel
72,707 visits/mo
0.4 miles
Marshalls
Apparel
49,494 visits/mo
0.3 miles
Michaels
Shops & Services
43,776 visits/mo
0.3 miles
JCPenney
Apparel
40,729 visits/mo
0.3 miles
Old Navy
Apparel
35,032 visits/mo
0.4 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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - 3,400 SF retail building in high-traffic location.
Where is this retail space located?
The property is located at 1449 E Lafayette St Tallahassee, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: High‑traffic location ensures maximum exposure for your business.; Urban Pedestrian Zoning (UP‑2) allows for a wide variety of intense commercial uses.; Great visibility with prominent signage opportunities.
