Former Bank Branch For
For Sale
$1,000,000
3641 Coolidge Ct, Tallahassee, FL 32311
4,464 SF former bank branch in southeast Tallahassee.
Property Size4,464 SF
Price / SF$224.01
Days on Market215
Property Features for 3641 Coolidge Ct
General Information
Standard status
Active
Size
4,464 SF
Class
B
Property subtype
Multi Tenant Office
Building Details
Building Size
4,464 SF
Year Built
2004
Listing Agency:
NAI TALCOR
Listed By:
Slaton Murray, Jr. · License #3372705
(850) 224-2300
Source:
Thebrokerlist
Added: Mar 26
Changed: Oct 25
Last Checked: Oct 26 at 12:36PM
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
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Investment Insights
Based on property information with market context.
A 4,464 SF former bank branch is available for sale in southeast Tallahassee, situated at the entrance to the SouthWood community. The site benefits from dual access via Coolidge Court and Esplanade, along with multiple signage opportunities and 19 surface parking spaces. The structure includes 4 drive-thru lanes, 1 ATM lane, and an on-site Caterpillar generator. The property is suitable for various uses, including a financial institution, healthcare facility, or other professional services.
Key Highlights
- Located at the entrance to the SouthWood community, offering high visibility and access to a desirable demographic.
- Includes 4 drive‑thru lanes and 1 ATM lane, suitable for various business operations.
- Features dual access via Coolidge Court and Esplanade, enhancing accessibility.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,840
Cap Rate
5.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,096,800
$1.1M
Cap Rate 7%
$783,429
$783.4K
Cap Rate 9%
$609,333
$609.3K
Market Conditions
NOI Build-Up for 4,464 SF
Gross rent
$93.7K $21.00/SF
− Vacancy
−$20.6K −$4.62/SF
EGI
$73.1K $16.38/SF
− OpEx
−$18.3K −$4.10/SF
NOI
$54.8K $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 Rate 5%
$1,096,800
Cap Rate 7%
$783,429
Cap Rate 9%
$609,333
Alternative Uses
Best Use
Office B
$783.4K
$685.5K – $914.0K
NOI $54,840 @ 7.0% cap · market cap 5.48%
Second Best
Specialty Retail
$728.3K
$637.3K – $849.7K
NOI $50,983 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$1.09M
$957.6K – $1.28M
NOI $76,607 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
224
Businesses Nearby
Explore this area
Business Placement
Demographics for 32311, FL
21,218
Population
10,166
Households
2.1
Avg Household Size
39
Median Age
57%
College-Educated
96%
High-School Grad
56.5 sq mi
ZIP Area
376
Density / Sq Mi
$80,250
Median Household Income
$46,466
Median Earnings
$1,497
Median Rent
$288,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - 4,464 SF former bank branch in southeast Tallahassee.
Where is this office building located?
The property is located at 3641 Coolidge Ct Tallahassee, FL.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Located at the entrance to the SouthWood community, offering high visibility and access to a desirable demographic.; Includes **4 drive‑thru lanes and 1 ATM lane**, suitable for various business operations.; Features dual access via Coolidge Court and Esplanade, enhancing accessibility.
