Eight-Office Mixed-Use
New
For Sale
$379,900
231 Lafayette Cir, Tallahassee, FL 32303
A reception area, kitchen, and attached exterior shed support day-to-day operations.
Property Size2,048 SF
Price / SF$185.50
Days on Market3
Property Features for 231 Lafayette Cir
General Information
Standard status
Active
Size
2,048 SF
Zoning
CU-45
Amenities
kitchen
1.5 bathrooms
exterior storage shed
Listing Agency:
Lohman Realty LLC
Listed By:
Kelsey Lohman, Devin Lohman
Source:
Hopegainesrealestate
Added: Oct 5
Changed: Oct 6
Last Checked: Oct 7 at 1:34PM
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 Lohman Realty LLC
Investment Insights
Based on property information with market context.
This 2,048-square-foot mixed-use property in Tallahassee contains eight office spaces, a reception area near the entrance, a kitchen, and 1.5 bathrooms. An attached exterior shed provides additional storage. The existing configuration is oriented toward commercial use, with residential use also noted as a possibility. The property is zoned CU-45.
At 231 Lafayette Cir, the building is in Midtown and close to shops, bars, and eateries. Paved parking includes some covered or shaded spaces.
At 231 Lafayette Cir, the building is in Midtown and close to shops, bars, and eateries. Paved parking includes some covered or shaded spaces.
Key Highlights
- Eight office spaces in a 2,048‑square‑foot mixed‑use property
- CU‑45 zoning
- Reception area near the entrance, kitchen, and 1.5 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,160
Cap Rate
6.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$503,200
$503.2K
Cap Rate 7%
$359,429
$359.4K
Cap Rate 9%
$279,556
$279.6K
Market Conditions
NOI Build-Up for 2,048 SF
Gross rent
$43.0K $21.00/SF
− Vacancy
−$9.5K −$4.62/SF
EGI
$33.5K $16.38/SF
− OpEx
−$8.4K −$4.10/SF
NOI
$25.2K $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 Rate 5%
$503,200
Cap Rate 7%
$359,429
Cap Rate 9%
$279,556
Alternative Uses
Best Use
Office B
$359.4K
$314.5K – $419.3K
NOI $25,160 @ 7.0% cap · market cap 6.62%
Second Best
Mixed Use
$276.5K
$241.9K – $322.6K
NOI $19,354 @ 7.0% cap · market cap 5.09%
Theoretical Best
Office A
$502.1K
$439.3K – $585.8K
NOI $35,146 @ 7.0% cap · market cap 9.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,531
Businesses Nearby
Explore this area
Business Placement
Demographics for 32303, FL
48,644
Population
24,864
Households
2
Avg Household Size
34
Median Age
46%
College-Educated
95%
High-School Grad
34.8 sq mi
ZIP Area
1,398
Density / Sq Mi
$63,123
Median Household Income
$37,702
Median Earnings
$1,324
Median Rent
$204,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - A reception area, kitchen, and attached exterior shed support day-to-day operations.
Where is this mixed-use property located?
The property is located at 231 Lafayette Cir Tallahassee, FL.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: Eight office spaces in a 2,048‑square‑foot mixed‑use property; CU‑45 zoning; Reception area near the entrance, kitchen, and 1.5 bathrooms
