Turnkey Neighborhood
For Sale
Contact for pricing
4550-4556 NW Capital Cir, Tallahassee, FL 32303
Fully equipped restaurant with a 12-foot hood and outside seating, positioned on a high-traffic corridor.
Property Size2,646 SF
Price / SF$160.62
Days on Market55
Property Features for 4550-4556 NW Capital Cir
General Information
Standard status
Active
Size
2,646 SF
Property subtype
Retail
Additional Details
Business Included
Yes
Traffic Count
17,000 vehicles/day
Commercial Hood
Yes
Building Details
Year Built
1977
Listing Agency:
Harrison Commercial Properties
Listed By:
George Harrison · License #FL BK655262
Source:
Crexi
Added: Jun 13
Changed: Jul 10
Last Checked: Aug 5 at 12:33PM
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 Harrison Commercial Properties
Investment Insights
Based on property information with market context.
This turnkey neighborhood restaurant is ready to operate, with a complete interior setup that includes a 12-foot hood, fryers, flat-top grille, walk-in cooler, and included furniture and fixtures. The dining area is supported by an outside area that can be used for seating or games, giving the operation an additional customer-friendly space.
The property is located at 4550-4556 NW Capital Cir in Tallahassee, along Capital Circle NW, with a reported traffic count of over 17,000 vehicles per day. The site’s visibility to passing traffic supports footfall for a restaurant concept that benefits from consistent neighborhood demand.
For buyers or operators seeking an immediate, turn-key foodservice environment, this offering provides the core equipment package and furnishings needed for day-to-day service. The inclusion of major cooking and refrigeration equipment, along with established clientele noted in the remarks, may reduce the time and cost associated with outfitting a new location from scratch. The outdoor area further supports service flexibility for peak periods and events where an expanded guest experience is helpful.
The property is located at 4550-4556 NW Capital Cir in Tallahassee, along Capital Circle NW, with a reported traffic count of over 17,000 vehicles per day. The site’s visibility to passing traffic supports footfall for a restaurant concept that benefits from consistent neighborhood demand.
For buyers or operators seeking an immediate, turn-key foodservice environment, this offering provides the core equipment package and furnishings needed for day-to-day service. The inclusion of major cooking and refrigeration equipment, along with established clientele noted in the remarks, may reduce the time and cost associated with outfitting a new location from scratch. The outdoor area further supports service flexibility for peak periods and events where an expanded guest experience is helpful.
Key Highlights
- Fully equipped neighborhood restaurant with a 12‑foot hood, fryers, and flat‑top grille
- Includes walk‑in cooler plus furniture and fixtures
- Outside area for seating or games
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,220
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.11%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$604,400
$604.4K
Cap Rate 7%
$431,714
$431.7K
Cap Rate 9%
$335,778
$335.8K
Market Conditions
NOI Build-Up for 2,646 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$42.9K $16.20/SF
− Vacancy
−$2.6K −$0.97/SF
EGI
$40.3K $15.23/SF
− OpEx
−$10.1K −$3.81/SF
NOI
$30.2K $11.42/SF
Area
Tallahassee, FL
Vacancy
6.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$604,400
Cap Rate 7%
$431,714
Cap Rate 9%
$335,778
Alternative Uses
Best Use
Specialty Retail
$431.7K
$377.8K – $503.7K
NOI $30,220 @ 7.0% cap · market cap 7.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$648.7K
$567.6K – $756.8K
NOI $45,408 @ 7.0% cap · market cap 10.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
17,000 VPD
Traffic count
Turnkey business
Opportunity
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
463
Businesses Nearby
324k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 36%
Superstores 29%
Shops & Services 22%
Apparel 11%
Walmart
Superstores
93,637 visits/mo
0.2 miles
McDonald's
Dining
27,898 visits/mo
0.2 miles
Zaxby's Chicken Fingers & Buffalo Wings
Dining
21,324 visits/mo
0.2 miles
Ross Dress for Less
Apparel
21,128 visits/mo
0.2 miles
Murphy USA
Shops & Services
19,544 visits/mo
0.3 miles
Demographics for 32303, FL
48,644
Population
24,864
Households
2
Avg Household Size
34
Median Age
46%
College-Educated
95%
High-School Grad
34.8 sq mi
ZIP Area
1,398
Density / Sq Mi
$63,123
Median Household Income
$37,702
Median Earnings
$1,324
Median Rent
$204,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Fully equipped restaurant with a 12-foot hood and outside seating, positioned on a high-traffic corridor.
Where is this conventional restaurant located?
The property is located at 4550-4556 NW Capital Cir Tallahassee, FL.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Fully equipped neighborhood restaurant with a 12‑foot hood, fryers, and flat‑top grille; Includes walk‑in cooler plus furniture and fixtures; Outside area for seating or games
