Corner Former Restaurant
For Sale
Contact for pricing
220 W Tennessee Street, Tallahassee, FL 32301
Former restaurant building on a high-traffic corner with Central Core zoning supporting multiple commercial uses.
Property Size4,846 SF
Price / SF$196.04
Days on Market32
Property Features for 220 W Tennessee Street
General Information
Standard status
Active
Size
4,846 SF
Property subtype
RETAIL
Zoning
CC
Additional Details
Traffic Count
38,300 vehicles/day
Listing Agency:
NAI TALCOR | Tallahassee
(850) 545-5649
Listed By:
James 'Jim' Taube, CCIM
(850) 545-5649
Source:
Moodyscre
Added: Jun 30
Changed: Jul 29
Last Checked: Jul 29 at 2:51AM
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 NAI TALCOR | Tallahassee
Investment Insights
Based on property information with market context.
This property consists of a 4,846 SF former restaurant building positioned on a high-traffic corner. It offers a redevelopment-ready site with a “Central Core” (CC) zoning designation that allows for a variety of intense commercial uses, including restaurant, bank, hotel, auto rental, or high-density residential, with up to 150 units per acre.
The site is located at 220 W. Tennessee Street in Tallahassee, about four blocks from the Florida State Capitol Building and three blocks from Florida State University. Public remarks indicate an estimated 38,300 AADT on the corner, supporting strong retail and redevelopment visibility.
The property is presented for sale as a restaurant site or redevelopment opportunity under CC zoning.
The site is located at 220 W. Tennessee Street in Tallahassee, about four blocks from the Florida State Capitol Building and three blocks from Florida State University. Public remarks indicate an estimated 38,300 AADT on the corner, supporting strong retail and redevelopment visibility.
The property is presented for sale as a restaurant site or redevelopment opportunity under CC zoning.
Key Highlights
- 4,846 SF former restaurant building at 220 W. Tennessee St., Tallahassee, FL
- High‑traffic corner location with 38,300 AADT
- About 4 blocks from the Florida State Capitol Building
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $78.5k | $16.20 |
| − Vacancy | −$4.7k | −$0.97 |
| EGI | $73.8k | $15.23 |
| − OpEx | −$18.4k | −$3.81 |
| NOI | $55.3k | $11.42 |
4,846 SF · lease $16.20/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$790.7K
$691.8K – $922.4K
NOI $55,346 @ 7.0% cap · market cap 5.83%
Second Best
Retail
$672.4K
$588.3K – $784.5K
NOI $47,067 @ 7.0% cap · market cap 4.95%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,162 @ 7.0% cap · market cap 8.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
38,300 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
2,944
Businesses Nearby
46k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 44%
Dining 28%
Shops & Services 28%
DoubleTree by Hilton Hotel Tallahassee
Hotels & Casinos
12,422 visits/mo
0.3 miles
Popeyes Louisiana Kitchen
Dining
9,807 visits/mo
0.4 miles
Four Points by Sheraton, Tallahassee Downtown
Hotels & Casinos
7,674 visits/mo
0.2 miles
Dollar General
Shops & Services
3,819 visits/mo
0.3 miles
Tropical Smoothie Cafe
Dining
3,165 visits/mo
0.4 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Suwannee Room — William Johnston Building, 143 Honors Way, Tallahassee, FL 32304
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Former restaurant building on a high-traffic corner with Central Core zoning supporting multiple commercial uses.
Where is this conventional restaurant located?
The property is located at 220 W Tennessee Street Tallahassee, FL.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 4,846 SF former restaurant building at 220 W. Tennessee St., Tallahassee, FL; High‑traffic corner location with 38,300 AADT; About 4 blocks from the Florida State Capitol Building
