Office Building on North Monroe
916 N Monroe St, Tallahassee, FL 32303
For Sale
New
$395,000
The 1927 building offers a professional office setting along North Monroe Street in Tallahassee.
Property Size1,155 SF
Price / SF$341.99
Days on Market3
Property Features for 916 N Monroe St
General Information
Standard status
Size
Class
Property subtype
Additional Details
Property Use
Building Details
Building Size
Year Built
Listing Agency:
NAI TALCOR | Tallahassee
Listed By:
Slaton Murray, SIOR, CCIM · License FL BK3372705
(850) 294-8521
Source:
Naiglobal
Added: Nov 8
Last Checked: Nov 8 at 4:34PM
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 NAI TALCOR | Tallahassee
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Investment Insights
Based on property information with market context.
This 1,155-square-foot office building, constructed in 1927, is located at 916 N Monroe St in Tallahassee. Its classification as an office property supports a professional workspace use.
The property fronts North Monroe Street, described as a highly trafficked corridor, and offers signage potential for business exposure.
The property fronts North Monroe Street, described as a highly trafficked corridor, and offers signage potential for business exposure.
Key Highlights
- 1,155‑square‑foot office building
- Built in 1927
- Located on North Monroe Street in Tallahassee
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,189
Cap Rate
3.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$283,780
$283.8K
Cap Rate 7%
$202,700
$202.7K
Cap Rate 9%
$157,656
$157.7K
Market Conditions
NOI Build-Up for 1,155 SF
Gross rent
$24.3K $21.00/SF
− Vacancy
−$5.3K −$4.62/SF
EGI
$18.9K $16.38/SF
− OpEx
−$4.7K −$4.10/SF
NOI
$14.2K $12.29/SF
Area
Tallahassee, FL
Vacancy
22.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$283,780
Cap Rate 7%
$202,700
Cap Rate 9%
$157,656
Alternative Uses
Best Use
Office B
$202.7K
$177.4K – $236.5K
NOI $14,189 @ 7.0% cap · market cap 3.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$283.2K
$247.8K – $330.4K
NOI $19,821 @ 7.0% cap · market cap 5.02%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,722
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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Market
Properties on Market for Office buildings in Tallahassee
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - The 1927 building offers a professional office setting along North Monroe Street in Tallahassee.
Where is this office building located?
The property is located at 916 N Monroe St Tallahassee, FL.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 1,155‑square‑foot office building; Built in 1927; Located on North Monroe Street in Tallahassee
