Professional Office in Business
1618 Mahan Center Boulevard 103, Tallahassee, FL 32308
For Sale
$325,000
Versatile office space in a prestigious northeast business park.
Property Size1,225 SF
Price / SF$265.31
Days on Market717
Property Features for 1618 Mahan Center Boulevard 103
General Information
Standard status
Size
Property subtype
Taxes and HOA fees
Annual Taxes
Listing Agency:
Keller Williams Town & Country
(850) 201-4663
Listed By:
Nancy DiGisi · License FL #3400131
(850) 567-6272
Source:
Exitrealty
Added: Nov 26, 2024
Changed: Aug 9
Last Checked: Aug 9 at 9:17PM
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 Keller Williams Town & Country
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This office space is situated in a northeast business park, offering a professional environment near Capital Circle off Mahan Drive. The property features ample parking for staff and clients. The Home Owners Association (HOA) fee covers exterior maintenance, lighting, parking area upkeep, and landscaping. The versatile office layout includes a large reception area, a file room, a waiting area, and a conference room. It also features several offices, a fully-equipped kitchen, a full bathroom, and a guest bathroom. The 1,225 square-foot office space can be configured in multiple ways.
Key Highlights
- Prestigious northeast business park location near Capital Circle off Mahan Dr.
- Versatile office space configurable in many different ways.
- Ample parking for staff and clients.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,049
Cap Rate
4.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$300,980
$301.0K
Cap Rate 7%
$214,986
$215.0K
Cap Rate 9%
$167,211
$167.2K
Market Conditions
NOI Build-Up for 1,225 SF
Gross rent
$25.7K $21.00/SF
− Vacancy
−$5.7K −$4.62/SF
EGI
$20.1K $16.38/SF
− OpEx
−$5.0K −$4.10/SF
NOI
$15.0K $12.29/SF
Area
Tallahassee, FL
Vacancy
22.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$300,980
Cap Rate 7%
$214,986
Cap Rate 9%
$167,211
Alternative Uses
Best Use
Office B
$215.0K
$188.1K – $250.8K
NOI $15,049 @ 7.0% cap · market cap 4.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$300.3K
$262.8K – $350.4K
NOI $21,022 @ 7.0% cap · market cap 6.47%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
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
$291,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Office Units in Tallahassee, FL
Properties on Market for Office Units in Tallahassee
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Versatile office space in a prestigious northeast business park.
Where is this office unit located?
The property is located at 1618 Mahan Center Boulevard 103 Tallahassee, FL.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Prestigious northeast business park location near Capital Circle off Mahan Dr.; Versatile office space configurable in many different ways.; Ample parking for staff and clients.
