Leased Office Condo
For Sale
Contact for pricing
1618 Mahan Center Blvd, Tallahassee, FL 32308
Well-maintained office condo in the Mahan Professional Center, leased through July 2028 with a reception, conference room, and private offices.
Property Size1,225 SF
Price / SF$220.41
Days on Market17
Property Features for 1618 Mahan Center Blvd
General Information
Standard status
Active
Size
1,225 SF
Property subtype
OFFICE
Zoning
C-2
Additional Details
Highway Access
Yes
Office Units
1
Amenities
reception area
conference room
open workspace
private executive office
wet bar
private restroom
Building Details
Year Built
2006
Tenancy
Multi
Listing Agency:
NAI TALCOR | Tallahassee
(850) 251-5504
Listed By:
John W. McNeill, SIOR · License ##SL3173254
(850) 251-5504
Source:
Moodyscre
Added: Jul 15
Changed: Jul 25
Last Checked: Jul 30 at 10:17AM
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 | Tallahassee
Investment Insights
Based on property information with market context.
This well-maintained office condo is located within the established Mahan Professional Center and is currently leased through July 2028. The efficient interior layout includes a reception area, conference room, open workspace, private executive office, wet bar, and a private restroom.
The property offers convenient access to downtown Tallahassee, Capital Circle NE, Interstate 10, and both major hospitals.
Built in 2006, this C-2 zoned office unit can be purchased individually or as part of a three-unit office condominium portfolio.
The property offers convenient access to downtown Tallahassee, Capital Circle NE, Interstate 10, and both major hospitals.
Built in 2006, this C-2 zoned office unit can be purchased individually or as part of a three-unit office condominium portfolio.
Key Highlights
- 1,225 SF office condo in the established Mahan Professional Center
- Efficient layout includes reception, conference room, open workspace, private executive office, wet bar, and private restroom
- Currently leased through July 2028 with scheduled rent increases
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 | $25.7k | $21.00 |
| − Vacancy | −$5.7k | −$4.62 |
| EGI | $20.1k | $16.38 |
| − OpEx | −$5.0k | −$4.10 |
| NOI | $15.0k | $12.29 |
1,225 SF · lease $21.00/SF/yr · vacancy 22.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$215.0K
$188.1K – $250.8K
NOI $15,049 @ 7.0% cap · market cap 5.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$300.3K
$262.8K – $350.4K
NOI $21,022 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,258
Businesses Nearby
Explore this area
Business Placement
Demographics for 32308, FL
23,355
Population
11,838
Households
2
Avg Household Size
43
Median Age
56%
College-Educated
97%
High-School Grad
15.8 sq mi
ZIP Area
1,478
Density / Sq Mi
$73,125
Median Household Income
$46,786
Median Earnings
$1,327
Median Rent
$291,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Well-maintained office condo in the Mahan Professional Center, leased through July 2028 with a reception, conference room, and private offices.
Where is this office units located?
The property is located at 1618 Mahan Center Blvd Tallahassee, FL.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: 1,225 SF office condo in the established Mahan Professional Center; Efficient layout includes reception, conference room, open workspace, private executive office, wet bar, and private restroom; Currently leased through July 2028 with scheduled rent increases
