Industrial Office and Warehouse
For Sale
Contact for pricing
270 Crossway Rd, Tallahassee, FL 32305
Industrial facility with two-level office space, conditioned warehouse, drive-in bay, and five dock-high doors.
Property Size82,000 SF
Lot Size6.26 Acres
Price / SF$83.54
Days on Market413
Property Features for 270 Crossway Rd
General Information
Standard status
Active
Size
82,000 SF
Lot size
6.26 Acres
Property subtype
INDUSTRIAL
Zoning
Industrial
Warehouse & Industrial
Dock-High Doors
5
Drive-In Doors
1
Additional Details
Highway Access
Yes
Building Details
Year Built
1973
Listing Agency:
NAI TALCOR | Tallahassee
(850) 224-2300
Listed By:
Gray Cartee · License #FL 371909
(850) 556-9000
Source:
Moodyscre
Added: Aug 5, 2025
Changed: Sep 11
Last Checked: Sep 21 at 6:29AM
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.
270 Crossway Road is an industrial office and warehouse facility built in 1973. The property includes 15,000 SF of office space on two levels, along with conditioned warehouse space totaling 65,000 SF, for a combined footprint of 82,000 SF. Operational features include one drive-in bay and five dock-high doors.
The site is situated in Tallahassee with proximity to the Tallahassee Industrial Park and Tallahassee International Airport, and it offers access to major transportation routes including the Interstate for logistics and distribution operations. The property is currently offered for sale with Industrial zoning.
The current configuration supports an industrial program with both office and warehouse space under one roof, with loading facilitated by dock-high doors and a drive-in bay.
The site is situated in Tallahassee with proximity to the Tallahassee Industrial Park and Tallahassee International Airport, and it offers access to major transportation routes including the Interstate for logistics and distribution operations. The property is currently offered for sale with Industrial zoning.
The current configuration supports an industrial program with both office and warehouse space under one roof, with loading facilitated by dock-high doors and a drive-in bay.
Key Highlights
- Industrial zoning; 6.26‑acre site near Tallahassee Industrial Park and Tallahassee International Airport
- 82,000 SF office/warehouse total, including 15,000 SF two‑level office space
- 65,000 SF conditioned warehouse
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
$594,828
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
8.68%
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%
$11,896,560
$11.9M
Cap Rate 7%
$8,497,543
$8.5M
Cap Rate 9%
$6,609,200
$6.6M
Market Conditions
NOI Build-Up for 82,000 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
$984.0K $12.00/SF
− Vacancy
−$68.9K −$0.84/SF
EGI
$915.1K $11.16/SF
− OpEx
−$320.3K −$3.91/SF
NOI
$594.8K $7.25/SF
Area
Tallahassee, FL
Vacancy
7.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
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%
$11,896,560
Cap Rate 7%
$8,497,543
Cap Rate 9%
$6,609,200
Alternative Uses
Best Use
Warehouse
$9.13M
$7.99M – $10.65M
NOI $639,010 @ 7.0% cap · market cap 9.33%
Second Best
Flex RnD
$8.50M
$7.44M – $9.91M
NOI $594,828 @ 7.0% cap · market cap 8.68%
Theoretical Best
Office A
$20.10M
$17.59M – $23.45M
NOI $1,407,199 @ 7.0% cap · market cap 20.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
5
Dock-high doors
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
219
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32305, FL
19,199
Population
8,517
Households
2.3
Avg Household Size
40
Median Age
20%
College-Educated
83%
High-School Grad
96.0 sq mi
ZIP Area
200
Density / Sq Mi
$47,694
Median Household Income
$32,166
Median Earnings
$923
Median Rent
$154,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial facility with two-level office space, conditioned warehouse, drive-in bay, and five dock-high doors.
Where is this flex space located?
The property is located at 270 Crossway Rd Tallahassee, FL.
What is the asking price?
The asking price for this property is $6,850,000.
What are key features of this property?
This property features: Industrial zoning; 6.26‑acre site near Tallahassee Industrial Park and Tallahassee International Airport; 82,000 SF office/warehouse total, including 15,000 SF two‑level office space; 65,000 SF conditioned warehouse
