Small-Bay Flex Industrial
For Sale
Contact for pricing
4770-4804 Woodlane Circle, Tallahassee, FL 32303
Multi-building industrial property with flexible unit sizes, existing occupancy, and renovated suites available for immediate use.
Property Size48,500 SF
Lot Size4.70 Acres
Price / SF$123.71
Days on Market53
Property Features for 4770-4804 Woodlane Circle
General Information
Standard status
Active
Size
48,500 SF
Lot size
4.70 Acres
Property subtype
Industrial
Occupancy
80%
Building Details
Buildings
6
Tenancy
Multi-Tenant
Listing Agency:
Westover Industrial Partners
Listed By:
Sam Mallane · License #TX 734196
Source:
Crexi
Added: Sep 14
Changed: Nov 4
Last Checked: Nov 4 at 1:28PM
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 Westover Industrial Partners
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Woodlane Circle Business Park is a 48,500-square-foot flex industrial property on 4.70 acres in northwest Tallahassee. Six buildings contain 17 units ranging from 1,500 to 6,000 square feet, supporting trade, service, and light-manufacturing operations. Thirteen tenants currently occupy the park, which is 80.4% leased.
Two renovated units totaling 9,500 square feet are available for immediate occupancy, providing near-term leasing capacity within the existing layout. The property has recorded seven lease signings since early 2025 across its unit sizes, while two below-market legacy leases covering 9,600 square feet are scheduled to expire in 2027 and 2029. Most in-place leases include 3% annual escalations, and the property is projected to reach a 9.04% stabilized yield on cost through lease-up and future rollover.
Two renovated units totaling 9,500 square feet are available for immediate occupancy, providing near-term leasing capacity within the existing layout. The property has recorded seven lease signings since early 2025 across its unit sizes, while two below-market legacy leases covering 9,600 square feet are scheduled to expire in 2027 and 2029. Most in-place leases include 3% annual escalations, and the property is projected to reach a 9.04% stabilized yield on cost through lease-up and future rollover.
Key Highlights
- 48,500‑square‑foot flex industrial park on 4.70 acres
- Six buildings with 17 units ranging from 1,500 to 6,000 square feet
- 80.4% leased with 13 existing trade, service, and light‑manufacturing tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$377,951
Cap Rate
6.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,559,020
$7.6M
Cap Rate 7%
$5,399,300
$5.4M
Cap Rate 9%
$4,199,456
$4.2M
Market Conditions
NOI Build-Up for 48,500 SF
Gross rent
$465.6K $9.60/SF
− Vacancy
−$21.0K −$0.43/SF
EGI
$444.6K $9.17/SF
− OpEx
−$66.7K −$1.38/SF
NOI
$378.0K $7.79/SF
Area
Tallahassee, FL
Vacancy
4.50%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,559,020
Cap Rate 7%
$5,399,300
Cap Rate 9%
$4,199,456
Alternative Uses
Best Use
Warehouse
$5.40M
$4.72M – $6.30M
NOI $377,951 @ 7.0% cap · market cap 6.30%
Second Best
Flex RnD
$5.03M
$4.40M – $5.86M
NOI $351,819 @ 7.0% cap · market cap 5.86%
Theoretical Best
Office A
$11.89M
$10.40M – $13.87M
NOI $832,307 @ 7.0% cap · market cap 13.87%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
80.4%
Occupancy
Multi-Tenant-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
303
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - Multi-building industrial property with flexible unit sizes, existing occupancy, and renovated suites available for immediate use.
Where is this flex space located?
The property is located at 4770-4804 Woodlane Circle Tallahassee, FL.
What is the asking price?
The asking price for this property is $6,000,000.
What are key features of this property?
This property features: 48,500‑square‑foot flex industrial park on 4.70 acres; Six buildings with 17 units ranging from 1,500 to 6,000 square feet; 80.4% leased with 13 existing trade, service, and light‑manufacturing tenants
