Connected Office/Retail Service
For Sale
$120,000
1710 thomasville Road, Tallahassee, FL 32303
Two connected suites with French doors offer office rooms, a conference area, and multiple bathrooms for flexible use.
Property Size500 SF
Price / SF$240
Days on Market406
Property Features for 1710 thomasville Road
General Information
Standard status
Active
Size
500 SF
Property subtype
Retail
Amenities
3
Listing Agency:
Property Finders Nguyen Realty
(850) 510-8601
Listed By:
Matthew Smith · License #3476740
(850) 510-8601
Source:
Xome
Added: Jul 1, 2025
Changed: Aug 8
Last Checked: Aug 10 at 3:34AM
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 Property Finders Nguyen Realty
Investment Insights
Based on property information with market context.
This office/retail/service space is set up as two approximate units connected by French doors, with the option to replace the doors with a wall to create separate spaces. The suite offered on the right includes a conference area and an additional bathroom.
The property is centrally located across from Whole Foods on Thomasville Road. The neighboring connected suite on the left includes two office rooms, a storage room, and a bathroom, and it is also available for purchase.
Overall, the layout supports office use within each unit and can be configured as one connected suite or separated into distinct spaces depending on how a buyer intends to operate.
The property is centrally located across from Whole Foods on Thomasville Road. The neighboring connected suite on the left includes two office rooms, a storage room, and a bathroom, and it is also available for purchase.
Overall, the layout supports office use within each unit and can be configured as one connected suite or separated into distinct spaces depending on how a buyer intends to operate.
Key Highlights
- Office/retail/service space on Thomasville Road across from Whole Foods
- Two approximately 500 SF units connected by French doors (right unit available)
- Right unit includes a conference area and a bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$6,143
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.12%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$122,860
$122.9K
Cap Rate 7%
$87,757
$87.8K
Cap Rate 9%
$68,256
$68.3K
Market Conditions
NOI Build-Up for 500 SF
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.
Gross rent
$10.5K $21.00/SF
− Vacancy
−$2.3K −$4.62/SF
EGI
$8.2K $16.38/SF
− OpEx
−$2.0K −$4.10/SF
NOI
$6.1K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$122,860
Cap Rate 7%
$87,757
Cap Rate 9%
$68,256
Alternative Uses
Best Use
Office B
$87.8K
$76.8K – $102.4K
NOI $6,143 @ 7.0% cap · market cap 5.12%
Second Best
Retail
$69.4K
$60.7K – $80.9K
NOI $4,856 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$122.6K
$107.3K – $143.0K
NOI $8,580 @ 7.0% cap · market cap 7.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,981
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32303, FL
48,644
Population
24,864
Households
2
Avg Household Size
34
Median Age
46%
College-Educated
95%
High-School Grad
34.8 sq mi
ZIP Area
1,398
Density / Sq Mi
$63,123
Median Household Income
$37,702
Median Earnings
$1,324
Median Rent
$204,900
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?
Storefront property - Two connected suites with French doors offer office rooms, a conference area, and multiple bathrooms for flexible use.
Where is this storefront property located?
The property is located at 1710 thomasville Road Tallahassee, FL.
What is the asking price?
The asking price for this property is $120,000.
What are key features of this property?
This property features: Office/retail/service space on Thomasville Road across from Whole Foods; Two approximately 500 SF units connected by French doors (right unit available); Right unit includes a conference area and a bathroom
