Six-Office Brick Office
For Sale
$650,000
537 E Park Avenue, Tallahassee, FL 32301
Interior amenities include a reception area, kitchen, and hardwood flooring in a professional layout near Downtown Tallahassee.
Property Size2,169 SF
Price / SF$299.68
Days on Market79
Property Features for 537 E Park Avenue
General Information
Standard status
Active
Size
2,169 SF
Total Parking Spaces
10
Property subtype
Commercial
Additional Details
Property Use
Office
Building Details
Building Size
2,169 SF
Construction
painted-brick
Listing Agency:
The Naumann Group Real Estate
Listed By:
Jason Naumann · License #642623
(850) 325-1681
Source:
Bertpope
Added: Aug 19
Changed: Nov 4
Last Checked: Nov 4 at 2:19AM
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 The Naumann Group Real Estate
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Investment Insights
Based on property information with market context.
This 2,169-square-foot office building has six private offices, a lobby and reception area, a kitchen, and bathrooms. Painted brick, hardwood floors, French-door entries, and trim details define the interior. A paver driveway serves the property, with 10 private parking spaces.
The property is near Downtown Tallahassee. Recent improvements include new windows in March 2024, exterior paint in January 2024, a new roof in May 2024, a new hot water heater in January 2025, and a new fence in April 2025.
The property is near Downtown Tallahassee. Recent improvements include new windows in March 2024, exterior paint in January 2024, a new roof in May 2024, a new hot water heater in January 2025, and a new fence in April 2025.
Key Highlights
- 2,169‑square‑foot office building with six private offices
- 10 private parking spaces served by a paver driveway
- Interior includes lobby and reception area, kitchen, and bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,646
Cap Rate
4.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$532,920
$532.9K
Cap Rate 7%
$380,657
$380.7K
Cap Rate 9%
$296,067
$296.1K
Market Conditions
NOI Build-Up for 2,169 SF
Gross rent
$45.5K $21.00/SF
− Vacancy
−$10.0K −$4.62/SF
EGI
$35.5K $16.38/SF
− OpEx
−$8.9K −$4.10/SF
NOI
$26.6K $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%
$532,920
Cap Rate 7%
$380,657
Cap Rate 9%
$296,067
Alternative Uses
Best Use
Office B
$380.7K
$333.1K – $444.1K
NOI $26,646 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$531.7K
$465.3K – $620.4K
NOI $37,222 @ 7.0% cap · market cap 5.73%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,607
Businesses Nearby
Explore this area
Business Placement
Demographics for 32301, FL
29,686
Population
17,029
Households
1.7
Avg Household Size
32
Median Age
45%
College-Educated
92%
High-School Grad
10.2 sq mi
ZIP Area
2,910
Density / Sq Mi
$50,412
Median Household Income
$34,271
Median Earnings
$1,200
Median Rent
$211,900
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 - Interior amenities include a reception area, kitchen, and hardwood flooring in a professional layout near Downtown Tallahassee.
Where is this office building located?
The property is located at 537 E Park Avenue Tallahassee, FL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 2,169‑square‑foot office building with six private offices; 10 private parking spaces served by a paver driveway; Interior includes lobby and reception area, kitchen, and bathrooms
