Retail Space with Dual
For Sale
$190,000
2522 Capital Circle, Tallahassee, FL 32308
CP-zoned commercial space offers parking and two driveway connections along Capital Circle NE.
Property Size1,600 SF
Price / SF$118.75
Days on Market28
Property Features for 2522 Capital Circle
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Office
Zoning
Commercial Parkway (CP)
Additional Details
Road Access
Yes
Amenities
Central Air
Listing Agency:
William "Bill" Poole
(850) 443-5808
Listed By:
Bill Poole · License #BK567427
(850) 443-5808
Source:
Xome
Added: Jul 27
Changed: Aug 23
Last Checked: Aug 23 at 3:00AM
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 William "Bill" Poole
Investment Insights
Based on property information with market context.
This 1,600-square-foot retail property was built in 1983 and is located within the Commercial Parkway (CP) zoning district. The designation is intended for commercial development along major arterial roadways and supports a broad range of commercial uses. The property may suit an owner-occupant or investor seeking an established commercial location.
Access is provided by two driveways connecting to Capital Circle NE, supporting convenient ingress and egress. Ample parking is also available on site. The property’s placement along the corridor provides exposure to passing traffic and aligns with the area’s commercial development pattern.
Access is provided by two driveways connecting to Capital Circle NE, supporting convenient ingress and egress. Ample parking is also available on site. The property’s placement along the corridor provides exposure to passing traffic and aligns with the area’s commercial development pattern.
Key Highlights
- 1,600‑square‑foot retail property built in 1983
- Commercial Parkway (CP) zoning
- Two driveway connections to Capital Circle NE
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
$15,540
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
8.18%
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%
$310,800
$310.8K
Cap Rate 7%
$222,000
$222.0K
Cap Rate 9%
$172,667
$172.7K
Market Conditions
NOI Build-Up for 1,600 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
$24.0K $15.00/SF
− Vacancy
−$1.8K −$1.13/SF
EGI
$22.2K $13.88/SF
− OpEx
−$6.7K −$4.16/SF
NOI
$15.5K $9.71/SF
Area
Tallahassee, FL
Vacancy
7.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$310,800
Cap Rate 7%
$222,000
Cap Rate 9%
$172,667
Alternative Uses
Best Use
Office B
$280.8K
$245.7K – $327.6K
NOI $19,656 @ 7.0% cap · market cap 10.35%
Second Best
Retail
$222.0K
$194.3K – $259.0K
NOI $15,540 @ 7.0% cap · market cap 8.18%
Theoretical Best
Office A
$392.3K
$343.2K – $457.6K
NOI $27,458 @ 7.0% cap · market cap 14.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,703
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - CP-zoned commercial space offers parking and two driveway connections along Capital Circle NE.
Where is this retail space located?
The property is located at 2522 Capital Circle Tallahassee, FL.
What is the asking price?
The asking price for this property is $190,000.
What are key features of this property?
This property features: 1,600‑square‑foot retail property built in 1983; Commercial Parkway (CP) zoning; Two driveway connections to Capital Circle NE
