Two-Unit
For Sale
$499,900
599-603 Brooke Hampton Drive, Tallahassee, FL 32311
Both residences have three bedrooms and two bathrooms, and the property is fully occupied.
Property Size2,390 SF
Price / SF$209.16
Days on Market103
Property Features for 599-603 Brooke Hampton Drive
General Information
Standard status
Active
Size
2,390 SF
Property subtype
Multi Family
Occupancy
100%
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Gross Income
$40,000
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$4,474
Building Details
Building Size
2,390 SF
Year Built
2016
Listing Agency:
Millenia Realty of Florida
Listed By:
Charles Bart-Williams · License #3444825
(850) 755-2585
Source:
Tngrealty
Added: Jul 23
Changed: Nov 1
Last Checked: Nov 1 at 3:04PM
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 Millenia Realty of Florida
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This duplex contains two three-bedroom, two-bathroom residences, with a combined building area of 2,390 square feet. The property was built in 2016 and is fully occupied.
Key Highlights
- Two units, each with 3 bedrooms and 2 bathrooms
- 2,390 square feet of building area
- Built in 2016
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,043
Cap Rate
5.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$500,860
$500.9K
Cap Rate 7%
$357,757
$357.8K
Cap Rate 9%
$278,256
$278.3K
Market Conditions
NOI Build-Up for 2,390 SF
Gross rent
$38.7K $16.20/SF
− Vacancy
−$2.9K −$1.23/SF
EGI
$35.8K $14.97/SF
− OpEx
−$10.7K −$4.49/SF
NOI
$25.0K $10.48/SF
Area
Tallahassee, FL
Vacancy
7.60%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$500,860
Cap Rate 7%
$357,757
Cap Rate 9%
$278,256
Alternative Uses
Best Use
Multifamily LT 5
$357.8K
$313.0K – $417.4K
NOI $25,043 @ 7.0% cap · market cap 5.01%
Second Best
Apartment 5plus
$311.0K
$272.1K – $362.8K
NOI $21,768 @ 7.0% cap · market cap 4.35%
Theoretical Best
Office A
$585.9K
$512.7K – $683.6K
NOI $41,015 @ 7.0% cap · market cap 8.20%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
41
Businesses Nearby
Explore this area
Business Placement
Demographics for 32311, FL
21,218
Population
10,166
Households
2.1
Avg Household Size
39
Median Age
57%
College-Educated
96%
High-School Grad
56.5 sq mi
ZIP Area
376
Density / Sq Mi
$80,250
Median Household Income
$46,466
Median Earnings
$1,497
Median Rent
$288,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have three bedrooms and two bathrooms, and the property is fully occupied.
Where is this duplex located?
The property is located at 599-603 Brooke Hampton Drive Tallahassee, FL.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Two units, each with 3 bedrooms and 2 bathrooms; 2,390 square feet of building area; Built in 2016
