Two-Building Storefront
For Sale
$750,000
1733 & 1707 N Monroe, Tallahassee, FL 32301
Includes a finished basement suite, gated windows, and parking at the front and rear.
Property Size2,197 SF
Days on Market92
Property Features for 1733 & 1707 N Monroe
General Information
Standard status
Active
Size
2,197 SF
Property subtype
Retail/Office
Additional Details
Traffic Count
29,500 vehicles/day
Amenities
security window gates
Building Details
Building Size
2,197 SF
Year Built
1954
Buildings
2
Listing Agency:
(850) 566-2629
Listed By:
Brad Parker
Source:
Tlgproperty
Added: Jun 1
Changed: Aug 30
Last Checked: Aug 30 at 8:11PM
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 Brad Parker
Investment Insights
Based on property information with market context.
This storefront property comprises two buildings measuring 740 square feet and 1,457 square feet. The building at 1733 N Monroe includes a finished basement suite, while security window gates provide an additional physical feature. Parking includes 9 spaces in front, with additional parking behind the buildings.
The property sits on N Monroe in Tallahassee’s Midtown area, across the street from CVS and Publix. The corridor includes restaurants, shops, gas stations, hotels, and service businesses, with reported traffic of 29,500 AADT on N Monroe. The buildings were constructed in 1954.
The property sits on N Monroe in Tallahassee’s Midtown area, across the street from CVS and Publix. The corridor includes restaurants, shops, gas stations, hotels, and service businesses, with reported traffic of 29,500 AADT on N Monroe. The buildings were constructed in 1954.
Key Highlights
- Two buildings measuring 740 square feet and 1,457 square feet
- Finished basement suite at 1733 N Monroe
- 9 parking spaces in front plus additional rear parking
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
$21,338
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
2.85%
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%
$426,760
$426.8K
Cap Rate 7%
$304,829
$304.8K
Cap Rate 9%
$237,089
$237.1K
Market Conditions
NOI Build-Up for 2,197 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
$33.0K $15.00/SF
− Vacancy
−$2.5K −$1.13/SF
EGI
$30.5K $13.88/SF
− OpEx
−$9.1K −$4.16/SF
NOI
$21.3K $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 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%
$426,760
Cap Rate 7%
$304,829
Cap Rate 9%
$237,089
Alternative Uses
Best Use
Retail
$304.8K
$266.7K – $355.6K
NOI $21,338 @ 7.0% cap · market cap 2.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$538.6K
$471.3K – $628.4K
NOI $37,703 @ 7.0% cap · market cap 5.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
29,500 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
1,222
Businesses Nearby
176k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 45%
Groceries 34%
Shops & Services 19%
Beauty & Spa 1%
Publix
Groceries
59,386 visits/mo
0.1 miles
McDonald's
Dining
30,556 visits/mo
0.3 miles
Circle K
Shops & Services
15,796 visits/mo
0.3 miles
Golden Corral
Dining
14,775 visits/mo
0.1 miles
Wendy's
Dining
9,235 visits/mo
0.2 miles
Demographics for 32301, FL
29,686
Population
17,029
Households
1.7
Avg Household Size
32
Median Age
45%
College-Educated
92%
High-School Grad
10.2 sq mi
ZIP Area
2,910
Density / Sq Mi
$50,412
Median Household Income
$34,271
Median Earnings
$1,200
Median Rent
$211,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Includes a finished basement suite, gated windows, and parking at the front and rear.
Where is this storefront property located?
The property is located at 1733 & 1707 N Monroe Tallahassee, FL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Two buildings measuring 740 square feet and 1,457 square feet; Finished basement suite at 1733 N Monroe; 9 parking spaces in front plus additional rear parking
