Class A Office
For Sale
$625,000
2292 Wednesday Street Suite #2, Tallahassee, FL 32308
Large offices, upgraded finishes, a newer roof, and parking directly outside the entrance support day-to-day business use.
Property Size3,526 SF
Price / SF$177.25
Days on Market153
Property Features for 2292 Wednesday Street Suite #2
General Information
Standard status
Active
Size
3,526 SF
Class
A
Property subtype
Office
Building Details
Building Size
3,526 SF
Year Built
2001
Buildings
1
Listing Agency:
NAI TALCOR - Tallahassee
(850) 545-5649
Listed By:
Jim Taube, CCIM · License #672081
(850) 545-5649
Source:
Naiglobal
Added: Apr 1
Changed: Aug 30
Last Checked: Aug 30 at 11:40AM
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 3,526-square-foot office building was constructed in 2001 and is identified as a Class A property. The interior includes large offices and upscale finishes, while a new roof adds a recent exterior improvement. Parking is positioned directly at the front entrance for convenient access.
The property is located at 2292 Wednesday Street, Suite #2, in Tallahassee, Florida 32308. Its office configuration and existing improvements provide a defined commercial setting for an owner-user or office operation. The property is offered for sale.
The property is located at 2292 Wednesday Street, Suite #2, in Tallahassee, Florida 32308. Its office configuration and existing improvements provide a defined commercial setting for an owner-user or office operation. The property is offered for sale.
Key Highlights
- 3,526sf Class A office building
- Built in 2001
- Large offices with upscale finishes
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
$43,317
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
6.93%
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%
$866,340
$866.3K
Cap Rate 7%
$618,814
$618.8K
Cap Rate 9%
$481,300
$481.3K
Market Conditions
NOI Build-Up for 3,526 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
$74.0K $21.00/SF
− Vacancy
−$16.3K −$4.62/SF
EGI
$57.8K $16.38/SF
− OpEx
−$14.4K −$4.10/SF
NOI
$43.3K $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%
$866,340
Cap Rate 7%
$618,814
Cap Rate 9%
$481,300
Alternative Uses
Best Use
Office B
$618.8K
$541.5K – $722.0K
NOI $43,317 @ 7.0% cap · market cap 6.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$864.4K
$756.4K – $1.01M
NOI $60,510 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,839
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Large offices, upgraded finishes, a newer roof, and parking directly outside the entrance support day-to-day business use.
Where is this office building located?
The property is located at 2292 Wednesday Street Suite #2 Tallahassee, FL.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 3,526sf Class A office building; Built in 2001; Large offices with upscale finishes
