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    5500 Commonwealth Blvd Tallahassee, FL 32303

    For Sale
    Contact for pricing

    Exceptional development opportunity near I-10.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional commercial land parcel, located at 5500 Commonwealth Blvd in Northwest Tallahassee, Florida (zip code 32303), presents a unique investment opportunity. The property boasts a flexible lot size ranging from 1.23 to 1.87 acres, offering significant development potential. Its strategic location provides immediate proximity to Interstate 10, the region's primary east-west thoroughfare, ensuring high visibility and convenient access for businesses and customers. The site benefits from existing infrastructure, including an access drive and utilities already in place, streamlining the development process and reducing upfront costs. This property is part of a Planned Unit Development (PUD) with pre-approved entitlements for a quick-service restaurant with a drive-through and additional retail space, making it ideal for a variety of commercial uses. Nearby traffic counts show significant daily traffic volume, with ADT (Average Daily Traffic) ranging from 34,000 on Capital Circle to 59,000 on I-10. The property is further enhanced by the inclusion of three outparcels, each offering distinct development possibilities. This prime location and existing infrastructure make this a truly exceptional opportunity for investors seeking a high-impact commercial development project in a rapidly growing area of Tallahassee.

    Property Features for 5500 Commonwealth Blvd

    General Information

    Property type
    Land
    Lot Size
    53,579 SF

    HighLights

    • High‑traffic location with I‑10 ADT of 59,000 and Capital Circle ADT of 34,000.
    • Three outparcels totaling approximately 1.87, 1.23, and 1.46 acres.
    • Excellent I‑10 visibility and access.
    • Existing access drive and utilities.
    • Planned Unit Development (PUD) with entitlements for a quick‑service restaurant with drive‑thru and additional retail space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Lowe's ProServices Building Materials Supplier Installation Services Contractor Lowe's Garden Center Garden Center Primo Water Exchange Bottled Water Supplier Minute Key Key Duplication Service

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Building Supply Wholesale Shop Hair Salon Auto Repair Shop Clothing Store Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Tallahassee
    County
    Leon
    State
    Florida
    Longitude
    -84.3662626
    Latitude
    30.4780998

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    FAQs

    What type of property is this?
    Land - Exceptional development opportunity near I-10.
    Where is this land located?
    The property is located at 5500 Commonwealth Blvd Tallahassee, FL.
    What are key features of this property?
    This property features: High-traffic location with I-10 ADT of 59,000 and Capital Circle ADT of 34,000.; Three outparcels totaling approximately 1.87, 1.23, and 1.46 acres.; Excellent I-10 visibility and access.
    Request Owner's contact information
    5500 Commonwealth Blvd Tallahassee, FL 32303
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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
    5500 Commonwealth Blvd Tallahassee, FL 32303
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