Updated Freestanding Office
For Sale
Contact for pricing
2601 Capital Medical Blvd, Tallahassee, FL 32308
Flexible office layout with private offices, reception, conference, kitchen, storage, and dedicated executive accommodations.
Property Size2,000 SF
Price / SF$209.50
Days on Market153
Property Features for 2601 Capital Medical Blvd
General Information
Standard status
Active
Size
2,000 SF
Property subtype
OFFICE
Amenities
private offices
executive corner office with private bath and shower
reception area
conference room
restrooms
kitchen
storage room
auxiliary generator
outside deck with counter top & sink for barbeques & entertaining
Listing Agency:
NAI TALCOR | Tallahassee
(850) 224-2300
Listed By:
James 'Jim' Taube, CCIM
(850) 545-5649
Source:
Moodyscre
Added: Apr 6
Changed: Aug 13
Last Checked: Sep 5 at 1:13PM
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 updated freestanding office building offers 2,000 square feet of professional workspace with 6 private offices, including an executive corner office with a separate entrance and private bath with shower. The layout also includes a reception area, conference room, 2 restrooms, kitchen, and storage room. Recent improvements include new carpet, paint, and lighting.
The property is located at 2601 Capital Medical Blvd in Tallahassee, across the street from HCA Capital Hospital. Additional features include a natural gas-powered auxiliary generator, ample parking, and an outside deck with countertop and sink for barbeques and entertaining.
The property is located at 2601 Capital Medical Blvd in Tallahassee, across the street from HCA Capital Hospital. Additional features include a natural gas-powered auxiliary generator, ample parking, and an outside deck with countertop and sink for barbeques and entertaining.
Key Highlights
- 2,000‑square‑foot freestanding office building
- 6 private offices, including an executive corner office with separate entrance and private bath with shower
- Reception area, conference room, 2 restrooms, kitchen, and storage room
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
$24,570
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
5.86%
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%
$491,400
$491.4K
Cap Rate 7%
$351,000
$351.0K
Cap Rate 9%
$273,000
$273.0K
Market Conditions
NOI Build-Up for 2,000 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
$42.0K $21.00/SF
− Vacancy
−$9.2K −$4.62/SF
EGI
$32.8K $16.38/SF
− OpEx
−$8.2K −$4.10/SF
NOI
$24.6K $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%
$491,400
Cap Rate 7%
$351,000
Cap Rate 9%
$273,000
Alternative Uses
Best Use
Office B
$351.0K
$307.1K – $409.5K
NOI $24,570 @ 7.0% cap · market cap 5.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$490.3K
$429.0K – $572.0K
NOI $34,322 @ 7.0% cap · market cap 8.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,923
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 - Flexible office layout with private offices, reception, conference, kitchen, storage, and dedicated executive accommodations.
Where is this office building located?
The property is located at 2601 Capital Medical Blvd Tallahassee, FL.
What is the asking price?
The asking price for this property is $419,000.
What are key features of this property?
This property features: 2,000‑square‑foot freestanding office building; 6 private offices, including an executive corner office with separate entrance and private bath with shower; Reception area, conference room, 2 restrooms, kitchen, and storage room
