4-Unit Multifamily
2188 Claremont Lane, Tallahassee, FL 32301
For Sale
New
$520,000
Residential, Tallahassee, FL
Property Size3,552 SF
Price / SF$146.40
Days on Market2
Property Features for 2188 Claremont Lane
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Appliances
Subdivision
Elementary school
Middle school
High school
Directions
Standard status
APN
Size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Annual Amount
Utilities
Heating system
Cooling system
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Architectural style
Listing Agency:
Joan H. Raley, Realtor
Listed By:
Joan Raley · License FL #0189512
(850) 545-9390
Added: Nov 14
Last Checked: Nov 15 at 12:06AM
MLS# 407112
Copyright © 2026 Tallahassee Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 3,552-square-foot multifamily property in Tallahassee contains four apartments, each configured with two bedrooms and one bathroom. The units were updated in 2022 and 2023, and the roof was replaced in 2022. The building dates to 1981 and has assigned parking.
Appliances include washers, dryers, dishwashers, ranges, and refrigerators. The property also has central heating and air conditioning; some HVAC systems and water heaters have been updated. Current occupancy is 100%, with leases in place and one renewal approaching.
Appliances include washers, dryers, dishwashers, ranges, and refrigerators. The property also has central heating and air conditioning; some HVAC systems and water heaters have been updated. Current occupancy is 100%, with leases in place and one renewal approaching.
Key Highlights
- Four apartments, each with 2 bedrooms and 1 bathroom
- 3,552 square feet
- 100% occupied, with one lease renewal approaching
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,218
Cap Rate
7.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$744,360
$744.4K
Cap Rate 7%
$531,686
$531.7K
Cap Rate 9%
$413,533
$413.5K
Market Conditions
NOI Build-Up for 3,552 SF
Gross rent
$57.5K $16.20/SF
− Vacancy
−$4.4K −$1.23/SF
EGI
$53.2K $14.97/SF
− OpEx
−$16.0K −$4.49/SF
NOI
$37.2K $10.48/SF
Area
Tallahassee, FL
Vacancy
7.60%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$744,360
Cap Rate 7%
$531,686
Cap Rate 9%
$413,533
Alternative Uses
Best Use
Multifamily LT 5
$531.7K
$465.2K – $620.3K
NOI $37,218 @ 7.0% cap · market cap 7.16%
Second Best
Apartment 5plus
$462.2K
$404.4K – $539.2K
NOI $32,352 @ 7.0% cap · market cap 6.22%
Theoretical Best
Office A
$870.8K
$762.0K – $1.02M
NOI $60,956 @ 7.0% cap · market cap 11.72%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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See the owner, sales and loan history
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Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
213
Businesses Nearby
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Business Placement
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
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Market
Properties on Market for Quadplexes in Tallahassee
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four two-bedroom apartments are currently fully occupied.
Where is this quadplex located?
The property is located at 2188 Claremont Lane Tallahassee, FL.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: Four apartments, each with 2 bedrooms and 1 bathroom; 3,552 square feet; 100% occupied, with one lease renewal approaching
