Commercial Land With Existing
New
For Sale
$157,000
8401 Blountstown Hwy, Tallahassee, FL 32310
UF-zoned site with an existing concrete block structure, workshop, and screened porch along US Hwy 20.
Property Size1,408 SF
Price / SF$111.51
Days on Market5
Property Features for 8401 Blountstown Hwy
General Information
Standard status
Active
Size
1,408 SF
Listing Agency:
Nabors Realty LLC
(850) 694-0722
Listed By:
Kimberly Nabors · License #3230934
Source:
Hopegainesrealestate
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 30 at 8:24PM
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 Nabors Realty LLC
Investment Insights
Based on property information with market context.
This 1.2-acre commercial land parcel includes an existing concrete block building with 2 bedrooms, 2 bathrooms, an attached workshop, and a screened front porch. The property is zoned Urban Fringe (UF), supporting commercial, residential, and mixed-use development options intended for lower-intensity projects that do not require full urban infrastructure.
The site fronts Historic Blountstown Hwy, identified as US Hwy 20, with an Annual Average Daily Traffic count of 9,200 vehicles. Capital Circle, Florida State University, Doak Campbell Stadium, and Tallahassee Airport are listed in the surrounding area. Potential uses stated for the UF zoning include veterinary services, retail stores, beauty salons, and barbershops.
The site fronts Historic Blountstown Hwy, identified as US Hwy 20, with an Annual Average Daily Traffic count of 9,200 vehicles. Capital Circle, Florida State University, Doak Campbell Stadium, and Tallahassee Airport are listed in the surrounding area. Potential uses stated for the UF zoning include veterinary services, retail stores, beauty salons, and barbershops.
Key Highlights
- 1.2‑acre commercial land site
- Urban Fringe (UF) zoning supports commercial, residential, and mixed‑use development
- Existing concrete block building with 2 bedrooms and 2 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$13,306
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.48%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$266,120
$266.1K
Cap Rate 7%
$190,086
$190.1K
Cap Rate 9%
$147,844
$147.8K
Market Conditions
NOI Build-Up for 1,408 SF
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.
Gross rent
$23.7K $16.80/SF
− Vacancy
−$2.4K −$1.68/SF
EGI
$21.3K $15.12/SF
− OpEx
−$8.0K −$5.67/SF
NOI
$13.3K $9.45/SF
Area
Tallahassee, FL
Vacancy
10.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$266,120
Cap Rate 7%
$190,086
Cap Rate 9%
$147,844
Alternative Uses
Best Use
Mixed Use
$190.1K
$166.3K – $221.8K
NOI $13,306 @ 7.0% cap · market cap 8.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$345.2K
$302.0K – $402.7K
NOI $24,163 @ 7.0% cap · market cap 15.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
33
Businesses Nearby
Explore this area
Business Placement
Demographics for 32310, FL
17,209
Population
7,621
Households
2.3
Avg Household Size
32
Median Age
22%
College-Educated
85%
High-School Grad
91.9 sq mi
ZIP Area
187
Density / Sq Mi
$38,493
Median Household Income
$24,177
Median Earnings
$1,025
Median Rent
$118,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - UF-zoned site with an existing concrete block structure, workshop, and screened porch along US Hwy 20.
Where is this commercial land located?
The property is located at 8401 Blountstown Hwy Tallahassee, FL.
What is the asking price?
The asking price for this property is $157,000.
What are key features of this property?
This property features: 1.2‑acre commercial land site; Urban Fringe (UF) zoning supports commercial, residential, and mixed‑use development; Existing concrete block building with 2 bedrooms and 2 bathrooms
