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Property profile & analytics
OFF-MARKET
Estimated value
$10,645,000
Office buildings
3800 Esplanade Way Tallahassee, FL 32311-7891
Entity Owned
7-yr Hold
Free & Clear
Property ID
US18-3590470
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
2003
Construction
FRAME
Total area
91,719 SF
Lot
8.93 ac (388,991 SF)
APN
31-16-21- D-002-0
UPID
US18-3590470
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Kaye Scholer LLP Law Firm
-
North Highland Business Management Consultant
-
Accenture Business Management Consultant
-
WiredPeople, Inc. Employment Agency Business Service Center
-
ISF, Inc. Business Management Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$12.08M
Blend (final)
Blend
$10.65M
Owner & transaction history
Esplanade Way LLC · 7 yrs held
Esplanade Way LLC
since 2019
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Tallahassee submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tallahassee submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$15,500,000
Current use
MEDICAL BUILDING
$15,360,000
Change: -1% · Conversion: Easy
Blend value · Realmo final
$10.65M
Range $9.58M – $11.71M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$116 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$168,384
Tax year 2023
Assessed value
$8,702,246
Assessed 2023
Previous assessed
$8,319,306
+4.6% YoY
Effective rate
1.93%
On assessed value
Assessed land
$1,137,799
Assessed improvement
$7,564,447
Land market value
$1,137,799
Improvement market value
$7,564,447
Total market value
$8,702,246
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
2003
Construction
FRAME
Heating
YES
Cooling
YES
Buildings
1
Stories
3
Total area
91,719 SF
Lot
8.93 ac (388,991 SF)
APN
31-16-21- D-002-0
UPID
US18-3590470
Jurisdiction
LEON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$15.5M
MEDICAL BUILDING
Est. value
$15.4M
OFFICE BUILDING Current
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2003
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
3
Buildings
1
Lot
8.93 ac
Current owner
From public records · entity-resolved
Esplanade Way LLC
Entity
Free & Clear · 7 yrs held
Mailing address
PO BOX 6855, MIRAMAR BEACH, FL 32550-1015
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 16, 2019
—
3800 Esplanade Way LLC
—
Grant Deed
related
$19,550,000 · Tiaa Fsb
Jun 21, 2019
$100
Esplanade Way LLC
Forty-four Investments LLC
Grant Deed
—
Aug 17, 2018
$9,500,000
Forty-four Investments LLC
Southwood Spe LLC
Grant Deed
—
Apr 13, 2012
$4,600,000
Southwood Spe LLC
Swd Owner LLC
Deed In Lieu Of Foreclosure
related
—
Sep 13, 2011
—
Swd Owner LLC
—
Deed Of Trust
related
$36,015,000 · Us Bank NA #2007-ldp12 (ce)
Jun 22, 2007
$14,100,000
Swd Owner LLC
The St Joe Co
Special Warranty Deed
$11,956,853 · Not Available
—
—
Swd Owner LLC
—
Deed Of Trust
related
$4,600,000 · Banyan Street/maitland Holding
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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