Prime Tallahassee Retail Investment
220 W Tennessee St. Tallahassee, FL 32303
220 W Tennessee St., Tallahassee, FL, 32303
$950,000
For Sale
$950,000
4,846 SF former restaurant building near Florida State University.
Property Size4,846 SF
Price / SF$196.04
Days on Market238
Property Features for 220 W Tennessee St.
General Information
- Standard status
- Active
- Size
- 4,846 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1969
Listing Agency
NAI TALCOR - Tallahassee
(850) 545-5649
Listed by
Jim Taube, CCIM · License #672081
(850) 545-5649
Source
Naiglobal
Added: Nov 21, 2025 Checked: Jul 16 at 3:35 am
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.
Located at 220 W. Tennessee St. in Tallahassee, FL, this property offers a retail investment opportunity. The 4,846 SF building previously operated as a restaurant and is situated on a high-traffic corner. The location is four blocks from the Florida State Capitol Building and three blocks from Florida State University. The "Central Core" (CC) zoning allows for a variety of commercial uses, including restaurants, banks, hotels, auto rentals, or high-density residential development up to 150 units per acre. The property is located on the NE corner of Tennessee and Bronough Streets in a high-traffic location with 38,300 AADT. With other redevelopment projects taking place nearby, this property offers potential for redevelopment.
Key Highlights
- Prime location in the heart of Tallahassee, near the State Capitol and Florida State University
- High‑traffic corner location with 38,300 AADT
- Intense Commercial (CC) Zoning allows for diverse uses
Local 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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Fast Payday Loans, ...
Loan Service
Similar For Sale Nearby
Similar Off Market Nearby
- Convenient Healthy Snacks, LLC — 113 S Monroe St 1st floor, Tallahassee, FL 32301
- Centre Catering — 505 W Pensacola St, Tallahassee, FL 32301
- Tally Arepas — 302 N Monroe St, Tallahassee, FL 32301
- Judy's Creation — Tallahassee, FL 32301
- Nefetari's — 812 S Macomb St, Tallahassee, FL 32301
FAQs
What type of property is this?
Restaurant - 4,846 SF former restaurant building near Florida State University.
Where is this restaurant located?
The property is located at 220 W Tennessee St. 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: Prime location in the heart of Tallahassee, near the State Capitol and Florida State University; High‑traffic corner location with 38,300 AADT; Intense Commercial (CC) Zoning allows for diverse uses
