Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2870 Apalachee Pkwy Tallahassee, FL 32301

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    2,616 SF Tallahassee drive-thru restaurant for sale with lease.

    Type:Retail
    Property size:
    2,616 SF
    Price / SF:
    $600/SF
    Added:
    Jun 18, 2024
    Days on Market:
    679
    Last Refresh:
    Mar 17 at 1:26 pm

    Property Features for 2870 Apalachee Pkwy

    General Information

    Standard status
    Active
    Size
    2,616 SF
    Property subtype
    Retail

    We can help!

    Listing Contact
    Fletcher Dilmore

    Listing agent Fletcher Dilmore License ##SL3389522

    Listing office Premier Commercial Group

    Listing date Jun 18, 2024

    Source Crexi

    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 Premier Commercial Group

    Overview

    Apalachee Parkway Drive-Thru Restaurant

    Located on Apalachee Parkway in Tallahassee, Florida, this commercial property features a 2,616 square-foot drive-thru restaurant. The property is currently leased to Guthries under a NNN lease agreement. The lease has 5.5 years remaining on the original 7-year term, with the tenant having exercised an early 5-year renewal, resulting in 10.5 years remaining on the lease. This property offers a stable income stream and holds significant potential for long-term retail investment. Please note that the sale does not include the back half of the land.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Guthrie's Restaurant

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tallahassee
    County
    Leon
    State
    Florida
    Longitude
    -84.2336708
    Latitude
    30.4274504

    Nearby Similar for Sale

    • $859,900

      Mixed-Use Investment Opportunity

      Versatile mixed-use property with diversified income potential in Tallahassee, FL.
      3976 N Monroe Street, Tallahassee, FL 32303
      View Details
    • $880,000

      Waterfront Restaurant Opportunity on Lake Jackson

      Turn-key restaurant with lake views, ample parking, and outdoor stage.
      4806 Jackson Cove Road, Tallahassee, FL 32303
      View Details
    • $695,000

      Tallahassee Commercial Investment Opportunity

      Four-unit commercial building near Capital Circle NE.
      2016 N Point Boulevard unit: 1-4, Tallahassee, FL 32308
      View Details
    • $749,000

      Historic Governor Bloxham House

      Historic property with potential for office or hospitality use.
      410 N Calhoun Street, Tallahassee, FL 32301
      View Details
    • $1,100,000

      Renovated Downtown Tallahassee Brick Building

      Meticulously renovated property with offices, bar, and entertainment area.
      1202 E Park Avenue, Tallahassee, FL 32301
      View Details
    • $350,000

      Tallahassee Car Wash Business Opportunity

      Self-service car wash business for sale in prime location.
      2612 S Monroe Street, Tallahassee, FL 32301
      View Details
    • $1,450,000

      Profitable Tallahassee Restaurant with Drive-Thru

      Operating Dairy Queen franchise with real estate and assignable ground lease.
      2227 N Monroe Street, Tallahassee, FL 32303
      View Details
    • $450,000

      Midtown Tallahassee Mixed-Use Opportunity

      Prime location near shops, bars, and eateries.
      231 Lafayette Circle, Tallahassee, FL 32303
      View Details
    • $750,000

      Flexible Office Space Available

      Office unit with flexible space and investment potential.
      1909 NE Capital Circle unit: 100 & 200, Tallahassee, FL 32308
      View Details
    • $265,000

      Tallahassee Office Condo For Sale

      Office condo in desirable Tallahassee professional park, leased until 2027.
      1614 Mahan Center Boulevard, Tallahassee, FL 32308
      View Details
    • $260,000

      Mahan Center Office Condo

      Office condo near hospitals and downtown Tallahassee, ready for occupancy.
      1618 Mahan Center Boulevard, Tallahassee, FL 32308
      View Details
    • $600,000

      Tallahassee Mixed-Use Redevelopment Opportunity

      Mixed-use redevelopment opportunity in Tallahassee's SOMO District.
      2011 S Adams Street, Tallahassee, FL 32301
      View Details

    FAQs

    What type of property is this?
    Drive through restaurant - 2,616 SF Tallahassee drive-thru restaurant for sale with lease.
    Where is this drive through restaurant located?
    The property is located at 2870 Apalachee Pkwy Tallahassee, FL.
    What is the asking price?
    The asking price for this property is $1,570,000.
    What are key features of this property?
    This property features: Stable income stream from existing tenant (Guthries) with a NNN lease.; Drive‑thru property, a valuable feature for retail businesses.; Significant potential for long‑term retail investment success.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Fletcher Dilmore
    Real Estate License ID: #SL3389522
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!