Brick Duplex with
For Sale
$174,900
2309 & 2311 S Meridian St, Tallahassee, FL 32301
Two residential units feature family rooms, eat-in kitchens, and shared outdoor space.
Property Size1,363 SF
Price / SF$128.32
Days on Market50
Property Features for 2309 & 2311 S Meridian St
General Information
Standard status
Active
Size
1,363 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1965
Construction
brick
Listing Agency:
Lord & Stanley Realty, Inc.
Listed By:
Susan Gillespie · License #3409661
(850) 321-9259
Source:
Hopegainesrealestate
Added: Sep 11
Changed: Oct 26
Last Checked: Oct 7 at 12:58PM
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 Lord & Stanley Realty, Inc.
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Investment Insights
Based on property information with market context.
This brick duplex contains two residential units, each arranged with two bedrooms and one bathroom. Both sides include a family room and an eat-in kitchen, while the property also provides a large backyard. Built in 1965, the building offers a 1,363-square-foot configuration at 2309 & 2311 S Meridian St in Tallahassee, Florida.
Key Highlights
- Two‑unit brick duplex with 2 bedrooms and 1 bathroom per side
- 1,363‑square‑foot property built in 1965
- Family room included in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,282
Cap Rate
8.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$285,640
$285.6K
Cap Rate 7%
$204,029
$204.0K
Cap Rate 9%
$158,689
$158.7K
Market Conditions
NOI Build-Up for 1,363 SF
Gross rent
$22.1K $16.20/SF
− Vacancy
−$1.7K −$1.23/SF
EGI
$20.4K $14.97/SF
− OpEx
−$6.1K −$4.49/SF
NOI
$14.3K $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%
$285,640
Cap Rate 7%
$204,029
Cap Rate 9%
$158,689
Alternative Uses
Best Use
Multifamily LT 5
$204.0K
$178.5K – $238.0K
NOI $14,282 @ 7.0% cap · market cap 8.17%
Second Best
Apartment 5plus
$177.3K
$155.2K – $206.9K
NOI $12,414 @ 7.0% cap · market cap 7.10%
Theoretical Best
Office A
$334.1K
$292.4K – $389.8K
NOI $23,390 @ 7.0% cap · market cap 13.37%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
442
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
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature family rooms, eat-in kitchens, and shared outdoor space.
Where is this duplex located?
The property is located at 2309 & 2311 S Meridian St Tallahassee, FL.
What is the asking price?
The asking price for this property is $174,900.
What are key features of this property?
This property features: Two‑unit brick duplex with 2 bedrooms and 1 bathroom per side; 1,363‑square‑foot property built in 1965; Family room included in each unit
