Three-Storefront Office
For Sale
$465,000
1972 Crowder, Tallahassee, FL 32303
Flexible interior supports private offices, work areas, reception, and a staff kitchenette.
Property Size3,000 SF
Price / SF$155
Days on Market8
Property Features for 1972 Crowder
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Office
Amenities
kitchenette
Building Details
Buildings
1
Listing Agency:
Property Finders Nguyen Realty
Listed By:
Nga Nguyen Miller · License #3097469
(850) 510-3302
Source:
Xome
Added: Sep 2
Changed: Sep 8
Last Checked: Sep 8 at 2:47PM
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 approximately 3,000-square-foot office building is arranged around three storefront-style sections, each with a separate entrance. The configuration can support distinct office suites or a unified business operation, while the interior provides room for private offices, work areas, reception, and customer-facing functions. A kitchenette adds staff convenience.
Located at 1972 Crowder in Tallahassee, Florida, the property combines a professional office layout with direct access through multiple entrances. The storefront arrangement provides a practical framework for organizing several work areas within one building or maintaining separation between business functions. The space may be adapted to suit a range of office-oriented operations.
Located at 1972 Crowder in Tallahassee, Florida, the property combines a professional office layout with direct access through multiple entrances. The storefront arrangement provides a practical framework for organizing several work areas within one building or maintaining separation between business functions. The space may be adapted to suit a range of office-oriented operations.
Key Highlights
- Approximately 3,000 square feet of office space
- Three separate storefront sections with individual entrances
- Layout can accommodate separate office suites or one unified operation
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
$36,855
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
7.93%
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%
$737,100
$737.1K
Cap Rate 7%
$526,500
$526.5K
Cap Rate 9%
$409,500
$409.5K
Market Conditions
NOI Build-Up for 3,000 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
$63.0K $21.00/SF
− Vacancy
−$13.9K −$4.62/SF
EGI
$49.1K $16.38/SF
− OpEx
−$12.3K −$4.10/SF
NOI
$36.9K $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%
$737,100
Cap Rate 7%
$526,500
Cap Rate 9%
$409,500
Alternative Uses
Best Use
Office B
$526.5K
$460.7K – $614.3K
NOI $36,855 @ 7.0% cap · market cap 7.93%
Second Best
Retail
$416.2K
$364.2K – $485.6K
NOI $29,137 @ 7.0% cap · market cap 6.27%
Theoretical Best
Office A
$735.5K
$643.5K – $858.1K
NOI $51,483 @ 7.0% cap · market cap 11.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
286
Businesses Nearby
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Flexible interior supports private offices, work areas, reception, and a staff kitchenette.
Where is this office building located?
The property is located at 1972 Crowder Tallahassee, FL.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Approximately 3,000 square feet of office space; Three separate storefront sections with individual entrances; Layout can accommodate separate office suites or one unified operation
