Multifamily Apartment
2501 South Meridian Street Tallahassee, FL 32301
For Sale
Contact for pricing
For sale multifamily apartment building with assumable 3.73% financing and 14,400 square feet.
Property Size14,400 SF
Price / SF$163.19
Days on Market52
Property Features for 2501 South Meridian Street
General Information
- Standard status
- Active
- Size
- 14,400 SF
- Property subtype
- Multifamily
Listing Agency:
Matthews
Listed By:
Connor Rollins · License #3599650
Source:
Crexi
Added: Jun 3
Changed: Jul 20
Last Checked: Jul 23 at 8:55AM
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 Matthews
Investment Insights
Based on property information with market context.
This for-sale multifamily apartment building offers 14,400 square feet of residential income space. The listing also notes assumable 3.73% financing, which may be of interest to qualified buyers seeking an alternative to new financing.
The property is located at 2501 South Meridian Street in Tallahassee, Florida, and is positioned on the university corridor, per the seller’s remarks. The current list price is $2,350,000.
The property is located at 2501 South Meridian Street in Tallahassee, Florida, and is positioned on the university corridor, per the seller’s remarks. The current list price is $2,350,000.
Key Highlights
- For sale multifamily apartment building
- 14,400 square feet
- Assumable 3.73% financing
Financial Insights For Apartment 5plus
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 | $259.2k | $18.00 |
| − Vacancy | −$20.7k | −$1.44 |
| EGI | $238.5k | $16.56 |
| − OpEx | −$107.3k | −$7.45 |
| NOI | $131.2k | $9.11 |
14,400 SF · lease $18.00/SF/yr · vacancy 8.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.87M
$1.64M – $2.19M
NOI $131,155 @ 7.0% cap · market cap 5.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.53M
$3.09M – $4.12M
NOI $247,118 @ 7.0% cap · market cap 10.52%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - For sale multifamily apartment building with assumable 3.73% financing and 14,400 square feet.
Where is this apartment building located?
The property is located at 2501 South Meridian Street Tallahassee, FL.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: For sale multifamily apartment building; 14,400 square feet; Assumable 3.73% financing
