Historic Office Building with Heart Pine
410 N Calhoun Street, Tallahassee, FL 32301
For Sale
$699,000
CommercialSale, Tallahassee, FL
Property Size4,977 SF
Lot Size0.25 Acres
Price / SF$140.45
Days on Market21
Property Features for 410 N Calhoun Street
General Information
Property type
Property subtype
Subdivision
Directions
Standard status
APN
Size
Lot size
Additional Details
Property Use
Condition
Utilities
Heating system
Cooling system
Water source
Amenities
high ceilings
heart pine floors
Building Details
Building materials
Roof type
Listing Agency:
Coldwell Banker Hartung
(850) 386-6160
Listed By:
Nancy Stedman · License FL #0551783
(850) 545-7074
Added: Oct 23
Changed: Nov 9
Last Checked: Nov 12 at 6:06AM
MLS# 406301
Copyright © 2026 Tallahassee Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 4,977-square-foot brick office property occupies a 0.25-acre parcel and has been restored to an earlier layout and appearance. Interior features include high ceilings, heart pine flooring, and four decorative fireplaces. Modern plumbing and electrical systems are in place, along with central heating and central air; ceiling fans are also present. The building is in reasonably good condition but requires some updating.
The property has up to nine parking spaces at the rear, with additional public parking on the street. Public water service and a metal roof complete the recorded building features.
The property has up to nine parking spaces at the rear, with additional public parking on the street. Public water service and a metal roof complete the recorded building features.
Key Highlights
- 4,977‑square‑foot brick office property on a 0.25‑acre parcel
- Restored layout and appearance with modern plumbing and electrical
- High ceilings, heart pine floors, and four decorative fireplaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,142
Cap Rate
8.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,222,840
$1.2M
Cap Rate 7%
$873,457
$873.5K
Cap Rate 9%
$679,356
$679.4K
Market Conditions
NOI Build-Up for 4,977 SF
Gross rent
$104.5K $21.00/SF
− Vacancy
−$23.0K −$4.62/SF
EGI
$81.5K $16.38/SF
− OpEx
−$20.4K −$4.10/SF
NOI
$61.1K $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%
$1,222,840
Cap Rate 7%
$873,457
Cap Rate 9%
$679,356
Alternative Uses
Best Use
Office B
$873.5K
$764.3K – $1.02M
NOI $61,142 @ 7.0% cap · market cap 8.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,410 @ 7.0% cap · market cap 12.22%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,770
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
Properties on Market for Office buildings in Tallahassee
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Restored brick property offers high ceilings, modern plumbing and electrical, and rear parking.
Where is this office building located?
The property is located at 410 N Calhoun Street Tallahassee, FL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 4,977‑square‑foot brick office property on a 0.25‑acre parcel; Restored layout and appearance with modern plumbing and electrical; High ceilings, heart pine floors, and four decorative fireplaces
