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    5485 Commonwealth Blvd Tallahassee, FL 32304

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    28 Acres, Tallahassee Light Industrial Development

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 28-acre parcel presents a prime opportunity for light industrial development in Tallahassee, Florida. Strategically located at 5485 Commonwealth Blvd, 32304, this unimproved land boasts convenient access to I-10 via a signalized intersection with Capital Circle NW. The property is situated directly across from a Lowe's Home Improvement Center, ensuring high visibility and convenient access for businesses and employees. Currently zoned for Light Industrial use in Leon County, permitted uses include flex-space, office, warehouse, distribution, and storage facilities. Utilities are readily available for connection, streamlining the development process. The land is part of the approved Hopkins Crossing Planned Unit Development (PUD). Note that environmental permitting and wetland assessments will be required to determine final buildable acreage before development commences. The land is priced at $3.25 per square foot. This location offers exceptional visibility and accessibility, making it an ideal investment for developers seeking a strategic foothold in Tallahassee's thriving industrial market. The property's proximity to major transportation arteries and established retail ensures strong potential for future growth and return on investment. This is a rare opportunity to acquire a substantial land parcel in a high-demand area.

    Property Features for 5485 Commonwealth Blvd

    General Information

    Property type
    Land
    Lot Size
    1,219,680 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Tallahassee
    County
    Leon
    State
    Florida
    Longitude
    -84.366967289805
    Latitude
    30.476799408042

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    FAQs

    What type of property is this?
    Land - 28 Acres, Tallahassee Light Industrial Development
    Where is this land located?
    The property is located at 5485 Commonwealth Blvd Tallahassee, FL.
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    5485 Commonwealth Blvd Tallahassee, FL 32304
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    Realmo Value Estimation

    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.

    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.

    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
    5485 Commonwealth Blvd Tallahassee, FL 32304
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