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    Updated Property in Gated Community Title is generated by Realmo AI

    2801 Chancellorsville Drive 131, Tallahassee, FL 32312

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    For Sale
    $225,000

    Turnkey property in gated community with resort-style amenities and AAA schools.

    Type:Condo/Townhome
    Property size:
    1,525 SF
    Lot size:
    0.25 Acres
    Price / SF:
    $147/SF
    Added:
    May 16, 2024
    Days on Market:
    785
    Last Refresh:
    Jun 28 at 3:29 pm

    Property Features for 2801 Chancellorsville Drive 131

    General Information

    Standard status
    Active
    Size
    1,525 SF
    Lot size
    0.25 Acres
    Property subtype
    Condo/Townhome

    Building Details

    Year Built
    2004

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    Jason  Madsen
    Jason Madsen

    Listing office Joe Manausa Real Estate

    Listing date May 16, 2024

    Source Exitrealty

    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 Joe Manausa Real Estate

    HighLights

    • Seller pays 1 year of HOA dues at closing.
    • Turnkey, updated property.
    • Gated community with resort‑style amenities: pool, jetted spa, cooking grills, indoor basketball court, and gym.
    • AAA school zones.
    • Closest building to the clubhouse.
    • Convenient location: within 3 miles of I‑10 and 1 mile from Bannerman Crossings.

    Overview

    This updated property is located in a gated community with AAA school zones. The community features amenities such as a pool, jetted spa, cooking grills, an indoor basketball court, and a gym. The property is situated in the closest building to the clubhouse. Barrington Park Condominiums are located within 3 miles of I-10 and 1 mile from Bannerman Crossings. The property will be available August 15th. The property size is 1525 square feet. The seller is paying 1 year of HOA dues at closing.

    Local 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 $27.5k $18.00
    − Vacancy −$2.2k −$1.44
    EGI $25.3k $16.56
    − OpEx −$11.4k −$7.45
    NOI $13.9k $9.11
    1,525 SF · lease $18.00/SF/yr · vacancy 8.00% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $198.4K
    $173.6K – $231.5K (±1% cap)
    NOI $13,890 @ 7.0% cap · market cap 6.17%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $373.9K
    $327.1K – $436.2K (±1% cap)
    NOI $26,170 @ 7.0% cap · market cap 11.63%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Affordable Fencing Company ... General Contractor Barrington Park Condominiums Condominium Complex Commercial Cleaning and Maintenance Hardware & Home Improvement jodytheinsuranceguy Courier Service Corporate Accommodations Tallahassee Real Estate Agency

    Suggested Use

    Electrical Service (Bike/Boat/Book/etc) Store Kitchen & Bath Showroom Grocery & Convenience Store Hair Salon Locksmith Auto Parts Store HVAC Service Catering Service Bakery

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tallahassee
    County
    Leon
    State
    Florida
    Longitude
    -84.2269596
    Latitude
    30.5493204

    FAQs

    What type of property is this?
    Residential income property - Turnkey property in gated community with resort-style amenities and AAA schools.
    Where is this residential income property located?
    The property is located at 2801 Chancellorsville Drive 131 Tallahassee, FL.
    What is the asking price?
    The asking price for this property is $225,000.
    What are key features of this property?
    This property features: Seller pays 1 year of HOA dues at closing.; Turnkey, updated property.; Gated community with resort‑style amenities: **pool, jetted spa, cooking grills, indoor basketball court, and gym.**
    More about this property
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