Multifamily Property with Renovation
For Sale
$344,900
308 Vantage Point Ln, Tallahassee, FL 32301
Renovation materials are available for the existing multifamily property.
Property Size2,208 SF
Price / SF$156.20
Days on Market49
Property Features for 308 Vantage Point Ln
General Information
Standard status
Active
Size
2,208 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
materials available to renovate
Building Details
Year Built
1978
Listing Agency:
Frog Real Estate Company, LLC
Listed By:
Devin Odom · License #3525166
(850) 212-2673
Source:
Hopegainesrealestate
Added: Sep 5
Changed: Oct 11
Last Checked: Oct 7 at 3:01PM
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 Frog Real Estate Company, LLC
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Investment Insights
Based on property information with market context.
This multifamily property contains 2,208 square feet and was built in 1978. Renovation materials are available for the property.
The asset is located at 308 Vantage Point Ln in Tallahassee, Florida 32301.
The asset is located at 308 Vantage Point Ln in Tallahassee, Florida 32301.
Key Highlights
- 2,208‑square‑foot multifamily property
- Built in 1978
- Renovation materials available
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,110
Cap Rate
5.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$402,200
$402.2K
Cap Rate 7%
$287,286
$287.3K
Cap Rate 9%
$223,444
$223.4K
Market Conditions
NOI Build-Up for 2,208 SF
Gross rent
$39.7K $18.00/SF
− Vacancy
−$3.2K −$1.44/SF
EGI
$36.6K $16.56/SF
− OpEx
−$16.5K −$7.45/SF
NOI
$20.1K $9.11/SF
Area
Tallahassee, FL
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$402,200
Cap Rate 7%
$287,286
Cap Rate 9%
$223,444
Alternative Uses
Best Use
Apartment 5plus
$287.3K
$251.4K – $335.2K
NOI $20,110 @ 7.0% cap · market cap 5.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$541.3K
$473.6K – $631.5K
NOI $37,891 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,247
Businesses Nearby
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Business Placement
Demographics for 32301, FL
29,686
Population
17,029
Households
1.7
Avg Household Size
32
Median Age
45%
College-Educated
92%
High-School Grad
10.2 sq mi
ZIP Area
2,910
Density / Sq Mi
$50,412
Median Household Income
$34,271
Median Earnings
$1,200
Median Rent
$211,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Renovation materials are available for the existing multifamily property.
Where is this multifamily property located?
The property is located at 308 Vantage Point Ln Tallahassee, FL.
What is the asking price?
The asking price for this property is $344,900.
What are key features of this property?
This property features: 2,208‑square‑foot multifamily property; Built in 1978; Renovation materials available
