NNN Property with New
For Sale
$750,000
1825 S Adams St, Tallahassee, FL 32301
Commercial property with established tenancy near FAMU Campus and the Capitol area.
Property Size3,367 SF
Price / SF$222.75
Days on Market19
Property Features for 1825 S Adams St
General Information
Standard status
Active
Size
3,367 SF
Listing Agency:
Primesouth Fezler, Russell and
(850) 329-7000
Listed By:
Sedita Cayson · License #670760
Source:
Hopegainesrealestate
Added: Aug 13
Changed: Aug 30
Last Checked: Aug 30 at 2:11PM
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 Primesouth Fezler, Russell and
Investment Insights
Based on property information with market context.
This 3,367-square-foot NNN commercial property includes tenants with occupancy histories exceeding five years. A replacement roof was completed in July 2024, providing a recently updated building component.
The property is located at 1825 S Adams St in Tallahassee, across from FAMU Campus and south of the Capitol. Its Adams Street setting places the asset within an established institutional and governmental context.
The property is located at 1825 S Adams St in Tallahassee, across from FAMU Campus and south of the Capitol. Its Adams Street setting places the asset within an established institutional and governmental context.
Key Highlights
- 3,367‑square‑foot commercial property
- NNN lease structure
- Tenants have occupied the property for more than 5 years
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
$32,702
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
4.36%
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%
$654,040
$654.0K
Cap Rate 7%
$467,171
$467.2K
Cap Rate 9%
$363,356
$363.4K
Market Conditions
NOI Build-Up for 3,367 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
$50.5K $15.00/SF
− Vacancy
−$3.8K −$1.13/SF
EGI
$46.7K $13.88/SF
− OpEx
−$14.0K −$4.16/SF
NOI
$32.7K $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%
$654,040
Cap Rate 7%
$467,171
Cap Rate 9%
$363,356
Alternative Uses
Best Use
Retail
$467.2K
$408.8K – $545.0K
NOI $32,702 @ 7.0% cap · market cap 4.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$825.4K
$722.3K – $963.0K
NOI $57,781 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
753
Businesses Nearby
28k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar Tree
Shops & Services
16,116 visits/mo
0.2 miles
Sunoco
Shops & Services
5,597 visits/mo
0.4 miles
O'Reilly Auto Parts
Shops & Services
2,511 visits/mo
0.4 miles
Avis Budget Car Rental
Shops & Services
2,059 visits/mo
0.4 miles
Advance Auto Parts
Shops & Services
1,785 visits/mo
0.3 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
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Frequently Asked Questions
What type of property is this?
NNN property - Commercial property with established tenancy near FAMU Campus and the Capitol area.
Where is this nnn property located?
The property is located at 1825 S Adams St 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: 3,367‑square‑foot commercial property; NNN lease structure; Tenants have occupied the property for more than 5 years
