Brick Duplex with Tenants in
For Sale
$275,000
3106 Jim Lee Rd, Tallahassee, FL 32301
Two-unit residential property with occupied units and a 1971 construction date.
Property Size1,760 SF
Price / SF$156.25
Days on Market79
Property Features for 3106 Jim Lee Rd
General Information
Standard status
Active
Size
1,760 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1971
Construction
brick
Listing Agency:
Hinson Realty
Listed By:
Terence Hinson · License #3330598
(850) 528-7653
Source:
Hopegainesrealestate
Added: Jul 29
Changed: Oct 2
Last Checked: Oct 15 at 2:18AM
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 Hinson Realty
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Investment Insights
Based on property information with market context.
This two-unit duplex at 3106 Jim Lee Rd in Tallahassee features a brick exterior and was constructed in 1971. Both units are occupied, providing an existing tenant profile for the property. The asset is positioned on a residential parcel with yard area and is available for scheduled showings by appointment.
Key Highlights
- Two‑unit duplex with both units occupied
- Brick exterior construction
- Built in 1971
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,442
Cap Rate
6.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$368,840
$368.8K
Cap Rate 7%
$263,457
$263.5K
Cap Rate 9%
$204,911
$204.9K
Market Conditions
NOI Build-Up for 1,760 SF
Gross rent
$28.5K $16.20/SF
− Vacancy
−$2.2K −$1.23/SF
EGI
$26.3K $14.97/SF
− OpEx
−$7.9K −$4.49/SF
NOI
$18.4K $10.48/SF
Area
Tallahassee, FL
Vacancy
7.60%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$368,840
Cap Rate 7%
$263,457
Cap Rate 9%
$204,911
Alternative Uses
Best Use
Multifamily LT 5
$263.5K
$230.5K – $307.4K
NOI $18,442 @ 7.0% cap · market cap 6.71%
Second Best
Apartment 5plus
$229.0K
$200.4K – $267.2K
NOI $16,030 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$431.5K
$377.5K – $503.4K
NOI $30,203 @ 7.0% cap · market cap 10.98%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
116
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with occupied units and a 1971 construction date.
Where is this duplex located?
The property is located at 3106 Jim Lee Rd Tallahassee, FL.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Two‑unit duplex with both units occupied; Brick exterior construction; Built in 1971
