Renovated Three-Story Office
New
For Sale
$1,065,000
2833 Remington Green Cir, Tallahassee, FL 32308
Vacant professional office property with independent floor layouts and shared flexibility for single- or multi-occupant use.
Property Size5,917 SF
Lot Size0.82 Acres
Price / SF$179.99
Days on Market4
Property Features for 2833 Remington Green Cir
General Information
Standard status
Active
Size
5,917 SF
Class
C
Lot size
0.82 Acres
Property subtype
Office
Building Details
Building Size
5,917 SF
Year Built
1986
Year Renovated
2024
Buildings
1
Stories
3
Listing Agency:
(850) 443-1688
Listed By:
Trey Roberts
Source:
Tlgproperty
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 29 at 6:54AM
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 Trey Roberts
Investment Insights
Based on property information with market context.
This freestanding office building contains 5,917 SF across three stories on a 0.82-acre parcel. Constructed in 1986 and renovated in 2024, the property has updated finishes and a finished attic level reached by stairs for storage or file use.
The two principal floors are independently configured with private offices, conference rooms, kitchenettes, restrooms, and copy or work areas. The building is 100% vacant, allowing the space to support an owner-user, a single occupant, or separate occupancy by floor. Located within Remington Green in northeast Tallahassee, the property also offers substantial on-site parking relative to the complex.
The two principal floors are independently configured with private offices, conference rooms, kitchenettes, restrooms, and copy or work areas. The building is 100% vacant, allowing the space to support an owner-user, a single occupant, or separate occupancy by floor. Located within Remington Green in northeast Tallahassee, the property also offers substantial on-site parking relative to the complex.
Key Highlights
- 5,917 SF freestanding office building on a 0.82‑acre lot
- Three‑story layout with a finished attic for storage or file space
- Renovated in 2024; originally built in 1986
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
$72,690
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
6.83%
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%
$1,453,800
$1.5M
Cap Rate 7%
$1,038,429
$1.0M
Cap Rate 9%
$807,667
$807.7K
Market Conditions
NOI Build-Up for 5,917 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
$124.3K $21.00/SF
− Vacancy
−$27.3K −$4.62/SF
EGI
$96.9K $16.38/SF
− OpEx
−$24.2K −$4.10/SF
NOI
$72.7K $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%
$1,453,800
Cap Rate 7%
$1,038,429
Cap Rate 9%
$807,667
Alternative Uses
Best Use
Office B
$1.04M
$908.6K – $1.21M
NOI $72,690 @ 7.0% cap · market cap 6.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,541 @ 7.0% cap · market cap 9.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,224
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?
Office building - Vacant professional office property with independent floor layouts and shared flexibility for single- or multi-occupant use.
Where is this office building located?
The property is located at 2833 Remington Green Cir Tallahassee, FL.
What is the asking price?
The asking price for this property is $1,065,000.
What are key features of this property?
This property features: 5,917 SF freestanding office building on a 0.82‑acre lot; Three‑story layout with a finished attic for storage or file space; Renovated in 2024; originally built in 1986
