Renovated Shopping Center
For Sale
$6,250,000
1704 - 1706 Capital Circle NE, Tallahassee, FL 32308
Retail center with CP zoning and 90% occupancy supports a flexible commercial leasing profile.
Property Size18,000 SF
Price / SF$347.22
Days on Market47
Property Features for 1704 - 1706 Capital Circle NE
General Information
Standard status
Active
Size
18,000 SF
Property subtype
Retail
Zoning
CP (Commercial Parkway)
Occupancy
90%
Building Details
Building Size
18,000 SF
Year Built
1988
Year Renovated
2019
Buildings
1
Tenancy
Multi
Listing Agency:
NAI TALCOR - Tallahassee
Listed By:
Kee Elwell, CCIM · License #362753
(850) 509-5242
Source:
Naiglobal
Added: Sep 4
Last Checked: Oct 19 at 3:23AM
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
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Investment Insights
Based on property information with market context.
This retail property comprises an 18,000 SF building in Tallahassee, Florida, with a multi-unit configuration suited to retail and street retail operations. Originally constructed in 1988, the building underwent renovation in 2019 and is designated CP (Commercial Parkway) zoning, supporting a range of commercial uses.
The property is located at 1704 - 1706 Capital Circle NE, Tallahassee, FL 32308. Current occupancy is 90%, providing an established operating profile within the existing retail center. Its unit-based layout offers flexibility for leasing individual commercial spaces while maintaining a unified retail property.
The property is located at 1704 - 1706 Capital Circle NE, Tallahassee, FL 32308. Current occupancy is 90%, providing an established operating profile within the existing retail center. Its unit-based layout offers flexibility for leasing individual commercial spaces while maintaining a unified retail property.
Key Highlights
- 18,000 SF retail building
- 90% current occupancy
- Renovated in 2019
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$174,825
Cap Rate
2.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,496,500
$3.5M
Cap Rate 7%
$2,497,500
$2.5M
Cap Rate 9%
$1,942,500
$1.9M
Market Conditions
NOI Build-Up for 18,000 SF
Gross rent
$270.0K $15.00/SF
− Vacancy
−$20.3K −$1.13/SF
EGI
$249.8K $13.88/SF
− OpEx
−$74.9K −$4.16/SF
NOI
$174.8K $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 Rate 5%
$3,496,500
Cap Rate 7%
$2,497,500
Cap Rate 9%
$1,942,500
Alternative Uses
Best Use
Retail
$2.50M
$2.19M – $2.91M
NOI $174,825 @ 7.0% cap · market cap 2.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.41M
$3.86M – $5.15M
NOI $308,897 @ 7.0% cap · market cap 4.94%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
90%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,279
Businesses Nearby
357k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 30%
Shops & Services 26%
Apparel 20%
Groceries 13%
Academy Sports + Outdoors
Apparel
65,770 visits/mo
0.2 miles
Publix
Groceries
47,589 visits/mo
0.2 miles
Big Lots
Superstores
27,845 visits/mo
0.4 miles
Zaxby's Chicken Fingers & Buffalo Wings
Dining
19,861 visits/mo
0.4 miles
Circle K
Shops & Services
19,640 visits/mo
0.4 miles
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
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Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- Commercial Plaza — 1519 Capital Cir NE, Tallahassee, FL 32308
- Lafayette Place — 3111 Mahan Dr, Tallahassee, FL 32308
- Sunglass Outfitters by Sunglass Hut — 4059 Lagniappe Way, Tallahassee, FL 32317
- Mahan Village Shopping Plaza — 3122 Mahan Dr suite 801-240, Tallahassee, FL 32308
- Fallschase Village Center — 4067 Lagniappe Way, Tallahassee, FL 32317
Frequently Asked Questions
What type of property is this?
Shopping center - Retail center with CP zoning and 90% occupancy supports a flexible commercial leasing profile.
Where is this shopping center located?
The property is located at 1704 - 1706 Capital Circle NE Tallahassee, FL.
What is the asking price?
The asking price for this property is $6,250,000.
What are key features of this property?
This property features: 18,000 SF retail building; 90% current occupancy; Renovated in 2019
