Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    403 E Park Ave Tallahassee, FL 32301

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Downtown office building with furnished spaces and included utilities.

    Type:Office
    Added:
    Aug 31, 2023
    Days on Market:
    972
    Last Refresh:
    Mar 17 at 1:15 pm

    Property Features for 403 E Park Ave

    General Information

    Standard status
    Active
    Property subtype
    Office

    Spaces For Lease

    at 403 E Park Ave Contact us

    We can help!

    Listing Contact
    Trey Roberts

    Listing agent Trey Roberts License #SL3636976

    Listing office TLG Real Estate Services

    Listing date Aug 31, 2023

    Source Crexi

    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 TLG Real Estate Services

    Overview

    Historic Downtown Office Building

    Located in Downtown on the southeast corner of Park and Gadsden, this historic office building features four levels with multiple private offices available for rent. The available spaces range from small to large individual offices, with access to shared conference rooms and a kitchen. Entire floors are also available, which include multiple offices, bathrooms, a reception area, and a private conference room. Leases are full service, covering utilities, fiber optic internet, and janitorial services. Each rented office includes one parking space. The offices are fully furnished with aesthetic furniture. The landlord provides on-site storage space with extra furnishings, allowing tenants to customize their spaces.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    PHOTOGRAPHY BY DIANA, ... Photography Service Glover Law Law Firm Murray Law Group Law Firm Friedman & Abrahamsen - DUI ... Law Firm Florida Association-Property Apprsr Association Or Organization

    Suggested Use

    Real Estate Agency Restaurant Dental Office Spa & Massage Center Hair Salon Law Firm Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tallahassee
    County
    Leon
    State
    Florida
    Longitude
    -84.2780998
    Latitude
    30.4416209

    Nearby Similar for Lease

    • $3,750/Mo

      Updated Office Suites For Rent

      Updated office suites with water access, ideal for various professionals.
      1725 NE Capital Circle unit: 205, Tallahassee, FL 32308
      View Details
    • $1,860/Mo

      Tallahassee Office Space For Rent

      Office space in Tallahassee, available July 1, 2026.
      1725 NE Capital Circle unit: 304, Tallahassee, FL 32308
      View Details
    • $3,500/Mo

      Professional Office Space in Tallahassee

      High-end office space in desirable NE Tallahassee, available March 2026.
      1684 Metropolitan Circle, Tallahassee, FL 32308
      View Details
    • $6,500/Mo

      Furnished Office Space For Lease

      Professionally furnished 6,500 SF office space in Tallahassee, Florida.
      1917 Commonwealth Lane, Tallahassee, FL 32303
      View Details
    • $3,000/Mo

      Tallahassee Office Space For Rent

      Well-located office space ideal for professional services or medical use.
      345 Office Plaza Drive, Tallahassee, FL 32301
      View Details
    • $2,500/Mo

      Restaurant Space Near FSU

      Restaurant space near FSU and downtown Tallahassee.
      415 Saint Francis Street unit: 114, Tallahassee, FL 32301
      View Details
    • $5,500/Mo

      Tallahassee Office Space For Rent

      Professional office space in prime, central Tallahassee location.
      1682 Metropolitan Circle, Tallahassee, FL 32308
      View Details
    • $2,200/Mo

      Office/Medical Space For Lease

      Office/medical space available for lease in Tallahassee, Florida.
      1706 Riggins Road, Tallahassee, FL 32308
      View Details
    • $1,195/Mo

      Tallahassee Commercial Space For Rent

      Commercial space with office and warehouse potential in Tallahassee, Florida.
      1319 Mahan Drive unit: 2, Tallahassee, FL 32308
      View Details
    • $1,500/Mo

      Efficient Micro Office with Gym

      750 sqft Tallahassee office with gym access, available 10/15.
      3554 Austin Davis Avenue unit: 104, Tallahassee, FL 32308
      View Details
    • $1,495/Mo

      Tallahassee Storage Space For Rent

      Storage space available near Downtown Tallahassee with convenient roll-up door.
      1317 Mahan Drive unit: 2, Tallahassee, FL 32308
      View Details
    • $17 SF/Yr

      Northeast Tallahassee Office Space

      2,820 SF office space near I-10 and Thomasville Road.
      1962 Village Green Way, Tallahassee, FL 32308
      View Details

    FAQs

    What type of property is this?
    Office building - Downtown office building with furnished spaces and included utilities.
    Where is this office building located?
    The property is located at 403 E Park Ave Tallahassee, FL.
    What are key features of this property?
    This property features: Prime Downtown location at the corner of Park and Gadsden.; Full‑service leases covering all utilities, janitorial, and one parking space per office.; Fully furnished offices with aesthetic furniture and onsite storage for custom fitting.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Trey Roberts
    Real Estate License ID: SL3636976
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!