2698 N Monroe St Tallahassee, FL 32303
Property with high traffic and renovation potential on N Monroe.
Property Features for 2698 N Monroe St
General Information
- Standard status
- Active
- Size
- 15,184 SF
- Property subtype
- Retail
Listing office TLG Real Estate Services
Listing date Jan 23, 2026
Source Crexi
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 TLG Real Estate Services
Investment Insights
Based on property information with market context.
Key Highlights
- High‑visibility location on N Monroe St (US Hwy 27) with 266± feet of frontage.
- Over 125 parking spaces available.
- Excellent exposure with high traffic counts of 40,500 vehicles per day.
Local Financial Insights For Retail
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 | $227.8k | $15.00 |
| − Vacancy | −$17.1k | −$1.13 |
| EGI | $210.7k | $13.88 |
| − OpEx | −$63.2k | −$4.16 |
| NOI | $147.5k | $9.71 |
