Classic Residence with Income
727 Miccosukee Road - Tallahassee, FL 32308
727 Miccosukee Road -, Tallahassee, FL, 32308
$1,100,000
For Sale
$1,100,000
1908 residence with main house and two separate apartments.
Property Size4,975 SF
Lot Size0.71 Acres
Price / SF$221.11
Days on Market651
Property Features for 727 Miccosukee Road -
General Information
- Standard status
- Active
- Size
- 4,975 SF
- Lot size
- 0.71 Acres
- Property subtype
- Multi Family
Building Details
- Year Built
- 1908
Listing Agency
Tallahassee Real Estate Sol.
(850) 339-6995
Listed by
Peggy Dye · License #3392974
Source
Exitrealty
Added: Oct 5, 2024 Checked: Jul 15 at 9:06 pm
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 Tallahassee Real Estate Sol.
Investment Insights
Based on property information with market context.
This classic 1908 residence features approximately 5000 sq. ft. of heated and cooled living area. The main house includes expansive spaces for entertaining, five bedrooms, and a library. In addition to the main residence, the property includes a 1-bedroom, 1-bath basement apartment and a detached 2-bedroom, 1-bath carriage house apartment. Both apartments have full kitchens. The main residence showcases heart pine wood flooring, high ceilings, and millwork. There are over 1000 sq ft of porches for outdoor relaxation. A three-room workshop provides extra storage and hobby space. The property spans 0.71 acres and is adorned with fruit trees and oaks.
Key Highlights
- Classic 1908 residence with heart pine wood flooring, high ceilings, and millwork.
- Main house with approximately 5000 sq. ft. of living space.
- Five bedrooms in the main house.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $80.6k | $16.20 |
| − Vacancy | −$6.1k | −$1.23 |
| EGI | $74.5k | $14.97 |
| − OpEx | −$22.3k | −$4.49 |
| NOI | $52.1k | $10.48 |
4,975 SF · lease $16.20/SF/yr · vacancy 7.60% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$744.7K
$651.6K – $868.8K
NOI $52,129 @ 7.0% cap · market cap 4.74%
Second Best
Apartment 5plus
$647.3K
$566.4K – $755.2K
NOI $45,312 @ 7.0% cap · market cap 4.12%
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,376 @ 7.0% cap · market cap 7.76%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Multifamily property - 1908 residence with main house and two separate apartments.
Where is this multifamily property located?
The property is located at 727 Miccosukee Road - Tallahassee, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Classic 1908 residence with heart pine wood flooring, high ceilings, and millwork.; Main house with approximately 5000 sq. ft. of living space.; Five bedrooms in the main house.
