13-Unit Apartment
1533 S Bronough Street # A-f, Tallahassee, FL 32301
For Sale
$1,900,000
Two renovated, two-story buildings provide on-site laundry and a mix of one- and two-bedroom apartments.
Property Size9,262 SF
Price / SF$205.14
Days on Market13
Property Features for 1533 S Bronough Street # A-f
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Amenities
onsite laundry
No
Yes
Public
0.15
Paved
9262.0
Building Details
Building Size
Buildings
Stories
Abandoned
Listing Agency:
(850) 752-0557
Listed By:
Jennifer Fountain
Source:
Cloverkeyrealty
Added: Oct 30
Changed: Nov 9
Last Checked: Nov 10 at 7:00AM
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 Jennifer Fountain
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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.
This 13-unit apartment property comprises two renovated, two-story buildings with a combined 9,262 square feet. One building contains seven units and the other has six. The mix includes twelve two-bedroom, one-bathroom apartments of approximately 750 square feet each, plus one one-bedroom, one-bathroom apartment of approximately 600 square feet. On-site laundry facilities serve the property.
Twelve units are leased, while one two-bedroom apartment is available. The property is at 1533 S Bronough Street in Tallahassee, near Florida A&M University. Downtown Tallahassee and Governor's Square Mall are also nearby.
Twelve units are leased, while one two-bedroom apartment is available. The property is at 1533 S Bronough Street in Tallahassee, near Florida A&M University. Downtown Tallahassee and Governor's Square Mall are also nearby.
Key Highlights
- 13 apartments across two buildings: one with 7 units and one with 6
- 12 two‑bedroom, one‑bath units of approximately 750 square feet each
- One one‑bedroom, one‑bath unit measuring approximately 600 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$84,358
Cap Rate
4.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,687,160
$1.7M
Cap Rate 7%
$1,205,114
$1.2M
Cap Rate 9%
$937,311
$937.3K
Market Conditions
NOI Build-Up for 9,262 SF
Gross rent
$166.7K $18.00/SF
− Vacancy
−$13.3K −$1.44/SF
EGI
$153.4K $16.56/SF
− OpEx
−$69.0K −$7.45/SF
NOI
$84.4K $9.11/SF
Area
Tallahassee, FL
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,687,160
Cap Rate 7%
$1,205,114
Cap Rate 9%
$937,311
Alternative Uses
Best Use
Apartment 5plus
$1.21M
$1.05M – $1.41M
NOI $84,358 @ 7.0% cap · market cap 4.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.27M
$1.99M – $2.65M
NOI $158,945 @ 7.0% cap · market cap 8.37%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
13
Residential units
Location Intelligence
Trade Area within ½ mile
1,096
Businesses Nearby
Explore this area
Business Placement
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
Properties on Market for Apartment buildings in Tallahassee
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Two renovated, two-story buildings provide on-site laundry and a mix of one- and two-bedroom apartments.
Where is this apartment building located?
The property is located at 1533 S Bronough Street # A-f Tallahassee, FL.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 13 apartments across two buildings: one with 7 units and one with 6; 12 two‑bedroom, one‑bath units of approximately 750 square feet each; One one‑bedroom, one‑bath unit measuring approximately 600 square feet
