Mixed-Use Property with
For Sale
$1,700,000
1907 W PENSACOLA Street, Tallahassee, FL 32304
The property combines restaurant space with two houses and a duplex on a corner parcel.
Property Size6,077 SF
Lot Size1.00 Acre
Price / SF$279.74
Days on Market279
Property Features for 1907 W PENSACOLA Street
General Information
Standard status
Active
Size
6,077 SF
Lot size
1.00 Acre
Property subtype
Business
Building Details
Building Size
6,077 SF
Buildings
4
Listing Agency:
Primesouth Fezler, Russell and
Listed By:
Sedita Cayson · License #670760
(850) 933-6973
Source:
Tngrealty
Added: Jan 28
Changed: Nov 2
Last Checked: Nov 1 at 2:53PM
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
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Investment Insights
Based on property information with market context.
This mixed-use property brings together Gordo's restaurant, two houses, and one duplex. The combined building area is 6,077 square feet, and the site occupies a one-acre corner lot.
The property is located a few blocks from Florida State University in Tallahassee, Florida.
The property is located a few blocks from Florida State University in Tallahassee, Florida.
Key Highlights
- 1‑acre corner lot
- Includes two houses, one duplex, and Gordo's restaurant
- 6,077 square feet of property area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,405
Cap Rate
4.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,388,100
$1.4M
Cap Rate 7%
$991,500
$991.5K
Cap Rate 9%
$771,167
$771.2K
Market Conditions
NOI Build-Up for 6,077 SF
Gross rent
$98.4K $16.20/SF
− Vacancy
−$5.9K −$0.97/SF
EGI
$92.5K $15.23/SF
− OpEx
−$23.1K −$3.81/SF
NOI
$69.4K $11.42/SF
Area
Tallahassee, FL
Vacancy
6.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,388,100
Cap Rate 7%
$991,500
Cap Rate 9%
$771,167
Alternative Uses
Best Use
Specialty Retail
$991.5K
$867.6K – $1.16M
NOI $69,405 @ 7.0% cap · market cap 4.08%
Second Best
Multifamily LT 5
$909.7K
$796.0K – $1.06M
NOI $63,676 @ 7.0% cap · market cap 3.75%
Theoretical Best
Office A
$1.49M
$1.30M – $1.74M
NOI $104,287 @ 7.0% cap · market cap 6.13%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
828
Businesses Nearby
Explore this area
Business Placement
Demographics for 32304, FL
50,007
Population
23,296
Households
2.1
Avg Household Size
25
Median Age
36%
College-Educated
89%
High-School Grad
15.2 sq mi
ZIP Area
3,290
Density / Sq Mi
$30,823
Median Household Income
$14,475
Median Earnings
$1,132
Median Rent
$147,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines restaurant space with two houses and a duplex on a corner parcel.
Where is this mixed-use property located?
The property is located at 1907 W PENSACOLA Street Tallahassee, FL.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 1‑acre corner lot; Includes two houses, one duplex, and Gordo's restaurant; 6,077 square feet of property area
