Multifamily Redevelopment Opportunity Near
410 Hayden Rd, Tallahassee, FL 32304
Multifamily property near FSU with redevelopment potential and income.
Type:Multifamily
- Added:
- Mar 5, 2026
- Days on Market:
- 88
- Last Refresh:
- Mar 16 at 2:44 pm
Property Features for 410 Hayden Rd
General Information
- Standard status
- Active
- Property subtype
- Multifamily
Listing agent Wilson Dean License #BK3238134
Listing office DEAN Real Estate
Listing date Mar 5, 2026
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 DEAN Real Estate
HighLights
- Zoning updated to University Transition with allowable lot density increased to 41 units, offering significant redevelopment potential.
- Site is considered fully entitled from the city, with permits ready for submittal, streamlining the redevelopment process.
- Current occupancy is fully rented with a monthly rental income of $9,275, with market rent upside to $11,050.
- Approximately $60,000 in upgrades to the units completed in 2024, plus ~$25,000 spent on new water and sewer lines in 2020.
- Close proximity to FSU and the stadium, ensuring quick rental rates.
- Civil engineering work completed with a City Approved site plan.
Overview
This multifamily property features three buildings with a total of 11 units. The unit mix includes a duplex at 410 Hayden Rd with two 2-bedroom, 1-bathroom units and an on-site coin-operated laundry facility. A single-family home at 412 Hayden Rd offers 3 bedrooms and 2 bathrooms. The eight-unit building at 414 Hayden Rd consists of 1-bedroom, 1-bathroom units. The property is fully rented, generating a monthly rental income of $9,275. Market rent upside exists up to $11,050 if rented during peak season. Renovations and updates totaling approximately $60,000 have been completed over the past year, and around $25,000 was spent in 2024 to completely update or replace the existing water and sewer lines. The single family home at 412 Hayden Rd received a new roof in 2020. Many units feature new appliances and HVAC systems installed within the last 5 years. Zoning has been updated to University Transition, increasing the allowable lot density to 41 units. Civil engineering work has been completed, and the site is considered fully entitled by the city, with permits ready for submittal. The project utilized incentives per the MMTD to increase density, requiring a mixed-use development. The proposed ground-floor liner building is proposed to have onsite property management and/or leasing office space to meet this requirement.
Property Profile
Location Intelligence
Current Use by Public Records
Office Units
Location Insight
- Map
- Local Demand
- City
- Tallahassee
- County
- Leon
- State
- Florida
- Longitude
- -84.3077266
- Latitude
- 30.4350738
Nearby Similar for Sale
FAQs
What type of property is this?
Multifamily property - Multifamily property near FSU with redevelopment potential and income.
Where is this multifamily property located?
The property is located at 410 Hayden Rd Tallahassee, FL.
What is the asking price?
The asking price for this property is $1,975,000.
What are key features of this property?
This property features: Zoning updated to University Transition with allowable lot density increased to 41 units, offering significant redevelopment potential.; Site is considered fully entitled from the city, with permits ready for submittal, streamlining the redevelopment process.; Current occupancy is fully rented with a monthly rental income of $9,275, with market rent upside to $11,050.
