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    1218 Hidden Pl Tallahassee, FL 32304

    • Dormitories
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-8706097
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Dormitories

    Property Details for 1218 Hidden Pl

    Property type
    Dormitories
    Property subtype
    Student housing

    Description

    This exceptional investment opportunity presents a 6-unit student housing complex in Tallahassee, Florida, located at 1218 Hidden Pl, 32304. The property boasts a strong 7.70% cap rate and a current Net Operating Income (NOI) of $84,000. Comprising two, two-story buildings, the property underwent renovations in 2023. Situated in the Hidden Place Subdivision, this property benefits from a prime location near Florida State University (1.9 miles away) and convenient access to shopping plazas, ensuring high occupancy rates and strong rental income potential. The absence of HOA fees provides significant cost savings and management flexibility. The property's proximity to the university and shopping centers makes it highly attractive to students and faculty, contributing to consistent demand. The current configuration includes a mix of units, offering potential for further value enhancement through strategic renovations or upgrades. This is a rare opportunity to acquire a well-positioned multifamily property with significant upside potential in a thriving Tallahassee neighborhood. The property offers excellent access to major roads and public transportation, further enhancing its appeal to tenants. Nearby amenities such as schools, restaurants, and entertainment venues add to the property's desirability. This is an ideal investment for those seeking a strong return on investment in a high-demand market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Tallahassee
    County
    Leon
    State
    Florida
    Longitude
    -84.320391382222
    Latitude
    30.454914519603

    Comparable in this City

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      39,680 SF

      Tallahassee Student Housing Complex

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    • $79,000
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      Condo Near FSU and TSC

      Two-story condo near universities, updated with tenant desiring to stay.
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      Move-in-Ready Condo Near FSU

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    Similar Nearby for Sale

    • $5,920,000
      39,680 SF

      Tallahassee Student Housing Complex

      32-unit gated community, high ROI.
      2016 Ann Arbor Ave, Tallahassee, FL 32304
      View Details
    • $530,000

      Fully Leased Triplex Near Universities

      Profitable triplex near universities with steady income and growth potential.
      1272 Ocala Rd, Tallahassee, FL 32304
      View Details
    • $1,050,000

      Tallahassee Multifamily Investment Near Campus

      Multifamily property near FSU and TCC, tenant occupied.
      102 White Dr, Tallahassee, FL 32304
      View Details
    • $325,000

      Spacious Triplex Near Universities

      Triplex near universities, buildable lot, investment or house-hack opportunity.
      1292 Rumba Ln, Tallahassee, FL 32304
      View Details
    • $79,000
      1,112 SF

      Condo Near FSU and TSC

      Two-story condo near universities, updated with tenant desiring to stay.
      2325 W Pensacola St, Tallahassee, FL 32304
      View Details
    • $77,500

      Move-in-Ready Condo Near FSU

      2 bed, 2 bath condo near universities and downtown.
      2020 Continental Ave, Tallahassee, FL 32304
      View Details

    Similar Nearby for Lease

    • $1,400 /Mo

      Condo Near FSU and TCC

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    • $2,700 /Mo

      Furnished Condo Near Universities

      Furnished condo with resort-style amenities, near TCC & FSU.
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    • $1,250 /Mo
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      Conveniently Located 2BR Apartment

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    • $1,450 /Mo
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      Three Bedroom Home For Rent

      Three-bedroom, two-bath home with fenced yard available for rent.
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    • $20 SF/Yr
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      Downtown Tallahassee Executive Office Suite

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    • $8 SF/Yr
      9,600 SF

      Industrial Warehouse Space Available

      9,600 SF industrial warehouse space for lease.
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    1218 Hidden Pl
    Tallahassee, FL 32304
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    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
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