Freestanding Office
For Sale
$1,200,000
433 N MAGNOLIA Drive, Tallahassee, FL 32308
A multi-office layout includes a reception area, conference room, library, full kitchen, and three restrooms.
Property Size5,994 SF
Lot Size0.78 Acres
Price / SF$200.20
Days on Market54
Property Features for 433 N MAGNOLIA Drive
General Information
Standard status
Active
Size
5,994 SF
Lot size
0.78 Acres
Property subtype
Office
Additional Details
Property Use
Office
Amenities
13 private offices
welcoming reception area
massive conference room
separate library
full kitchen
3 restrooms
generous storage including attic space
fenced perimeter
outdoor wooden deck
ADA accessibility
Building Details
Building Size
5,994 SF
Buildings
1
Listing Agency:
Ketcham Realty Group, Inc.
Listed By:
Suzanne Latacz · License #3572715
(850) 544-7373
Source:
Tngrealty
Added: Sep 12
Changed: Nov 2
Last Checked: Nov 3 at 8:59AM
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 Ketcham Realty Group, Inc.
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Investment Insights
Based on property information with market context.
The freestanding office building contains 5,994 square feet on a 0.78-acre parcel. Its layout includes 13 private offices, a reception area, a large conference room, a separate library, a full kitchen, and three restrooms. Attic space provides additional storage, and the property also has a single-car garage and an outdoor wooden deck. ADA accessibility is noted.
The property is on N Magnolia Drive in Tallahassee, within a professional corridor described as convenient to TMH, Midtown, and state government offices. The perimeter is fenced, with parking on site.
The property is on N Magnolia Drive in Tallahassee, within a professional corridor described as convenient to TMH, Midtown, and state government offices. The perimeter is fenced, with parking on site.
Key Highlights
- 5,994‑square‑foot freestanding office building on 0.78 acres
- 13 private offices plus a reception area
- Conference room, separate library, full kitchen, and 3 restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,636
Cap Rate
6.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,472,720
$1.5M
Cap Rate 7%
$1,051,943
$1.1M
Cap Rate 9%
$818,178
$818.2K
Market Conditions
NOI Build-Up for 5,994 SF
Gross rent
$125.9K $21.00/SF
− Vacancy
−$27.7K −$4.62/SF
EGI
$98.2K $16.38/SF
− OpEx
−$24.5K −$4.10/SF
NOI
$73.6K $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%
$1,472,720
Cap Rate 7%
$1,051,943
Cap Rate 9%
$818,178
Alternative Uses
Best Use
Office B
$1.05M
$920.5K – $1.23M
NOI $73,636 @ 7.0% cap · market cap 6.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.47M
$1.29M – $1.71M
NOI $102,863 @ 7.0% cap · market cap 8.57%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,128
Businesses Nearby
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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 - A multi-office layout includes a reception area, conference room, library, full kitchen, and three restrooms.
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: 5,994‑square‑foot freestanding office building on 0.78 acres; 13 private offices plus a reception area; Conference room, separate library, full kitchen, and 3 restrooms
