Apartment Building with
735 E 7th Avenue, Tallahassee, FL 32303
For Sale
New
$1,495,000
Residential, Tallahassee, FL
Property Size8,160 SF
Price / SF$183.21
Days on Market2
Property Features for 735 E 7th Avenue
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Half bathrooms
Rooms
Parking features
Patio and Porch features
Appliances
Subdivision
Elementary school
Middle school
High school
Directions
Standard status
APN
Size
Utilities
Heating system
Cooling system
Amenities
washer and dryer
covered back patio
rear security gate
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Architectural style
Listing Agency:
TLH Realty Inc.
Listed By:
Patrick Darden · License FL #3488427
(850) 906-0800
Added: Nov 10
Last Checked: Nov 11 at 1:06AM
MLS# 406947
Copyright © 2026 Tallahassee Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 8,160-square-foot apartment building was constructed in 1979 and has eight bedrooms and eight bathrooms. Interior features include granite surfaces and updated fixtures. The property also includes a washer and dryer, a covered patio at the rear, and a security gate. Assigned parking is provided.
The property is within walking distance of Kate Sullivan Elementary, Cobb Middle School, Trinity Catholic, and Leon High School, as well as restaurants and shopping. Central electric heating and air conditioning serve the building; ceiling fans are also present.
The property is within walking distance of Kate Sullivan Elementary, Cobb Middle School, Trinity Catholic, and Leon High School, as well as restaurants and shopping. Central electric heating and air conditioning serve the building; ceiling fans are also present.
Key Highlights
- 8,160‑square‑foot apartment building constructed in 1979
- Eight bedrooms and eight bathrooms
- Covered rear patio and security gate
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,321
Cap Rate
4.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,486,420
$1.5M
Cap Rate 7%
$1,061,729
$1.1M
Cap Rate 9%
$825,789
$825.8K
Market Conditions
NOI Build-Up for 8,160 SF
Gross rent
$146.9K $18.00/SF
− Vacancy
−$11.8K −$1.44/SF
EGI
$135.1K $16.56/SF
− OpEx
−$60.8K −$7.45/SF
NOI
$74.3K $9.11/SF
Area
Tallahassee, FL
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,486,420
Cap Rate 7%
$1,061,729
Cap Rate 9%
$825,789
Alternative Uses
Best Use
Apartment 5plus
$1.06M
$929.0K – $1.24M
NOI $74,321 @ 7.0% cap · market cap 4.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.00M
$1.75M – $2.33M
NOI $140,033 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
2,004
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Apartment buildings in Tallahassee
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - The property includes assigned parking, a covered rear patio, and a security gate.
Where is this apartment building located?
The property is located at 735 E 7th Avenue Tallahassee, FL.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: 8,160‑square‑foot apartment building constructed in 1979; Eight bedrooms and eight bathrooms; Covered rear patio and security gate
