Five-Unit Flex
5301 Corwin Drive, Tallahassee, FL 32303
For Sale
Contact for pricing
A multi-unit flex layout is supported by connected sewer, city water, and electric service.
Property Size7,360 SF
Lot Size0.82 Acres
Price / SF$129.08
Days on Market18
Property Features for 5301 Corwin Drive
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Site & Location
Road Access
Utilities to Site
Additional Details
Opportunity Zone
Property Use
Building Details
Building Size
Listing Agency:
ACRE Expert LLC
Listed By:
Drew Attias · License #Florida
Source:
Crexi
Added: Oct 23
Changed: Nov 8
Last Checked: Nov 8 at 6:41PM
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 ACRE Expert LLC
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Investment Insights
Based on property information with market context.
This 7,360-square-foot flex property is arranged as five units on a 0.82-acre parcel. The building has connected sewer and electric service, along with city water. CP zoning applies to the property.
Located at 5301 Corwin Drive in Tallahassee, the site has road access. The property is identified as outside a flood zone and has no wetlands.
Located at 5301 Corwin Drive in Tallahassee, the site has road access. The property is identified as outside a flood zone and has no wetlands.
Key Highlights
- 7,360 square feet of flex space
- Five‑unit configuration
- 0.82‑acre parcel
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,355
Cap Rate
6.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,147,100
$1.1M
Cap Rate 7%
$819,357
$819.4K
Cap Rate 9%
$637,278
$637.3K
Market Conditions
NOI Build-Up for 7,360 SF
Gross rent
$70.7K $9.60/SF
− Vacancy
−$3.2K −$0.43/SF
EGI
$67.5K $9.17/SF
− OpEx
−$10.1K −$1.38/SF
NOI
$57.4K $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%
$1,147,100
Cap Rate 7%
$819,357
Cap Rate 9%
$637,278
Alternative Uses
Best Use
Warehouse
$819.4K
$716.9K – $955.9K
NOI $57,355 @ 7.0% cap · market cap 6.04%
Second Best
Flex RnD
$762.7K
$667.4K – $889.8K
NOI $53,389 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$1.80M
$1.58M – $2.11M
NOI $126,305 @ 7.0% cap · market cap 13.30%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
210
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - A multi-unit flex layout is supported by connected sewer, city water, and electric service.
Where is this flex space located?
The property is located at 5301 Corwin Drive Tallahassee, FL.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 7,360 square feet of flex space; Five‑unit configuration; 0.82‑acre parcel
