Freestanding Office
For Sale
$1,200,000
433 N MAGNOLIA Drive, Tallahassee, FL 32308
CommercialSale, Tallahassee, FL
Property Size6,000 SF
Lot Size0.78 Acres
Price / SF$200
Days on Market48
Property Features for 433 N MAGNOLIA Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Parking features
Fenced
Security features
Security
Fencing
Fenced
Lot features
Level
Directions
On N Magnolia just N of Mahan on R
Subdivision
Leon
Standard status
Active
APN
12073-11-31-20-040-000-0
Lot size
0.78 Acres
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
reception area
conference room
library
kitchen
restrooms
storage
attic
fenced perimeter
outdoor deck
ADA accessible
garage
Building Details
Flooring type
Hardwood
Building materials
Brick
Listing Agency:
Ketcham Realty Group, Inc.
(850) 545-5314
Listed By:
Suzanne Latacz · License #3572715
(850) 544-7373
Added: Sep 12
Changed: Oct 16
Last Checked: Oct 29 at 5:06PM
MLS# 404825
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 freestanding brick office building contains 6,000 square feet on a 0.78-acre site. The layout includes 13 private offices, a reception area, a large conference room, a separate library, a full kitchen, three restrooms, storage areas, and attic space. Hardwood flooring, central heating and central air are installed throughout the property. Additional features include an outdoor wooden deck, a single-car garage, a fenced perimeter, and ADA accessibility.
The property is in Tallahassee’s professional corridor near TMH, Midtown, and state government offices. Public water serves the site, and parking is provided within the fenced property.
The property is in Tallahassee’s professional corridor near TMH, Midtown, and state government offices. Public water serves the site, and parking is provided within the fenced property.
Key Highlights
- 6,000‑square‑foot freestanding office building on 0.78 acres
- 13 private offices with reception area, conference room, and separate library
- Full kitchen, 3 restrooms, storage areas, and attic space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,710
Cap Rate
6.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,474,200
$1.5M
Cap Rate 7%
$1,053,000
$1.1M
Cap Rate 9%
$819,000
$819.0K
Market Conditions
NOI Build-Up for 6,000 SF
Gross rent
$126.0K $21.00/SF
− Vacancy
−$27.7K −$4.62/SF
EGI
$98.3K $16.38/SF
− OpEx
−$24.6K −$4.10/SF
NOI
$73.7K $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%
$1,474,200
Cap Rate 7%
$1,053,000
Cap Rate 9%
$819,000
Alternative Uses
Best Use
Office B
$1.05M
$921.4K – $1.23M
NOI $73,710 @ 7.0% cap · market cap 6.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $102,966 @ 7.0% cap · market cap 8.58%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,128
Businesses Nearby
Explore this area
Business Placement
Demographics for 32308, FL
23,355
Population
11,838
Households
2
Avg Household Size
43
Median Age
56%
College-Educated
97%
High-School Grad
15.8 sq mi
ZIP Area
1,478
Density / Sq Mi
$73,125
Median Household Income
$46,786
Median Earnings
$1,327
Median Rent
$291,800
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Brick office property with private offices, conference facilities, parking, and ADA accessibility.
Where is this office building located?
The property is located at 433 N MAGNOLIA Drive Tallahassee, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 6,000‑square‑foot freestanding office building on 0.78 acres; 13 private offices with reception area, conference room, and separate library; Full kitchen, 3 restrooms, storage areas, and attic space
