Live-Work Retail Office
1614 S Monroe Street Tallahassee, FL 32301
For Sale
$499,000
COMMERCIAL - Tallahassee, FL
Property Size1,344 SF
Lot Size0.48 Acres
Price / SF$371.28
Days on Market685
Property Features for 1614 S Monroe Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Fenced
Exterior features
Storage
Standard status
Active
Lot size
0.48 Acres
Utilities
Heating system
Central
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Building Details
Number of units
1
Flooring type
Carpet, Concrete
Building materials
Frame
Roof type
Metal
Additional Structures
Storage
Listing Agency:
Bluewater Realty Group
(850) 926-8777
Listed By:
Susan Jones · License #3203817
(850) 566-7584
Added: Sep 13, 2024
Changed: Jul 29
Last Checked: Jul 29 at 2:06PM
MLS# 377118
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 live-work style property includes a front building suitable for office and retail use, along with a yard area at the rear featuring a pole barn and storage facilities. The site is spread across two lots on nearly half an acre (.48 acre), providing room for existing operations and additional development opportunities on the back portion of the property.
The property has high visibility along S. Monroe and S. Adams Streets. The location is described as within walking distance of the SoMo District, Cascades Park, and Florida A&M University, with the Capitol Complex less than a mile away.
The offering is supported by flexible CU-45 mixed-use zoning, allowing the existing front building to serve as a live/work setup while supporting potential additional residential or retail development on the back of the site.
The property has high visibility along S. Monroe and S. Adams Streets. The location is described as within walking distance of the SoMo District, Cascades Park, and Florida A&M University, with the Capitol Complex less than a mile away.
The offering is supported by flexible CU-45 mixed-use zoning, allowing the existing front building to serve as a live/work setup while supporting potential additional residential or retail development on the back of the site.
Key Highlights
- 1,344 sq. ft. front office/retail building on a nearly 0.48‑acre lot (two expansive lots total)
- CU‑45 mixed‑use zoning allows live‑in use in the front building and potential development of additional residential or retail space
- Pole barn and storage facility in the rear yard for parking, equipment, or extra inventory
Financial Insights For Office B
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 | $28.2k | $21.00 |
| − Vacancy | −$6.2k | −$4.62 |
| EGI | $22.0k | $16.38 |
| − OpEx | −$5.5k | −$4.10 |
| NOI | $16.5k | $12.29 |
1,344 SF · lease $21.00/SF/yr · vacancy 22.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$235.9K
$206.4K – $275.2K
NOI $16,511 @ 7.0% cap · market cap 3.31%
Second Best
Retail
$186.5K
$163.2K – $217.6K
NOI $13,054 @ 7.0% cap · market cap 2.62%
Theoretical Best
Office A
$329.5K
$288.3K – $384.4K
NOI $23,064 @ 7.0% cap · market cap 4.62%
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?
Live-work space - Front office/retail building with yard, pole barn, and storage on nearly half an acre for flexible mixed-use use.
Where is this live-work space located?
The property is located at 1614 S Monroe Street 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: 1,344 sq. ft. front office/retail building on a nearly 0.48‑acre lot (two expansive lots total); CU‑45 mixed‑use zoning allows live‑in use in the front building and potential development of additional residential or retail space; Pole barn and storage facility in the rear yard for parking, equipment, or extra inventory
