Tallahassee Professional Office
For Sale
$649,000
1932 Miccosukee Rd, Tallahassee, FL 32308
Two-story office building near hospitals with frontage on three roads.
Property Size4,720 SF
Price / SF$137.50
Days on Market204
Property Features for 1932 Miccosukee Rd
General Information
Standard status
Active
Size
4,720 SF
Property subtype
Office
Building Details
Building Size
4,720 SF
Year Built
1952
Year Renovated
2005
Listing Agency:
Coldwell Banker Hartung
Listed By:
Lawrence Hartung · License #BK139932
(850) 386-6160
Source:
Commercialcafe
Added: Mar 26
Changed: Oct 5
Last Checked: Oct 14 at 8:37PM
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 Coldwell Banker Hartung
Investment Insights
Based on property information with market context.
Located in NE Tallahassee, inside Capital Circle NE, this two-story freestanding professional office building is less than 1 mile from Tallahassee Memorial Hospital. The corner lot provides frontage on Miccosukee Rd, Kuhlacres Dr, and Coombs Dr, with approximately 276 feet of frontage on Miccosukee Rd. The property offers great visibility and abundant parking. The surrounding area features professional and medical offices. The first floor includes a reception area, conference rooms, several private offices, storage space, two bathrooms, and a full kitchen. The second floor contains several private offices and a bathroom. The property is suitable for sale or development and is currently used as a professional office building.
Key Highlights
- Premier location in NE Tallahassee, inside Capital Circle NE, near two major hospitals.
- Less than 1 mile to Tallahassee Memorial Hospital.
- Corner lot with frontage on three roads (Miccosukee Rd, Kuhlacres Dr & Coombs Dr) and high visibility.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,985
Cap Rate
8.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,159,700
$1.2M
Cap Rate 7%
$828,357
$828.4K
Cap Rate 9%
$644,278
$644.3K
Market Conditions
NOI Build-Up for 4,720 SF
Gross rent
$99.1K $21.00/SF
− Vacancy
−$21.8K −$4.62/SF
EGI
$77.3K $16.38/SF
− OpEx
−$19.3K −$4.10/SF
NOI
$58.0K $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 Rate 5%
$1,159,700
Cap Rate 7%
$828,357
Cap Rate 9%
$644,278
Alternative Uses
Best Use
Office B
$828.4K
$724.8K – $966.4K
NOI $57,985 @ 7.0% cap · market cap 8.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $81,000 @ 7.0% cap · market cap 12.48%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
969
Businesses Nearby
Explore this area
Business Placement
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 Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Two-story office building near hospitals with frontage on three roads.
Where is this office building located?
The property is located at 1932 Miccosukee Rd Tallahassee, FL.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Premier location in NE Tallahassee, inside Capital Circle NE, near two major hospitals.; Less than 1 mile to Tallahassee Memorial Hospital.; Corner lot with frontage on three roads (Miccosukee Rd, Kuhlacres Dr & Coombs Dr) and high visibility.
