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    1203 Governors Square Blvd Tallahassee, FL 32301

    Sponsored
    For Lease
    $18 SF/Yr

    Executive & Medical Suites, 10,979 SF Vacant

    Lot size:
    58,176 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Magnolia Centre I, located at 1203 Governors Square Blvd in Tallahassee, Florida (zip code 32301), offers a prime opportunity for businesses seeking executive or medical office space. This Class B building boasts a total of 58,176 square feet, with flexible floor plans accommodating various needs. Currently, 10,979 square feet of space is available, divisible into units as small as 1,872 square feet, with a maximum contiguous space of 3,480 square feet. Four spaces are currently available, ranging from 1,576 to 6,655 square feet. The building features two elevators and ample parking with a 5:1000 ratio. Each floor comprises 9,700 square feet, allowing for customizable layouts, from open floor plans to more traditional office setups. The building's location offers convenient access to key state government agencies, including Lottery Headquarters and FL-DOT Headquarters, while providing competitive lease terms. This downtown Tallahassee location offers significant value compared to typical market rates. The property is suitable for multiple tenants and caters to various business types, including executive offices, medical offices, back offices, professional services, government entities, and institutional users.

    Property Features for 1203 Governors Square Blvd

    General Information

    Property type
    Government properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    58,176 SF
    Class
    B
    Total Rate
    89688

    Unit(s) available at that property

    Space
    602
    Size
    1,576 SF
    Rate per SF
    $21
    Space
    Suite 301
    Size
    1,872 SF
    Rate per SF
    $19
    Space
    200
    Size
    6,655 SF
    Rate per SF
    $18
    Space
    Suite 201
    Size
    2,555 SF
    Rate per SF
    $18

    HighLights

    • New Ownership and Management.
    • $1M+ in Planned Capital Improvements for 2023.
    • Ample Free Surface Parking (4 spaces per 1000 square feet).
    • On‑site Generator and Fiber Optics.
    Property Profile Location Intelligence

    Current Use by Public Records

    Agricultural Environmental Services Environmental Health Service Florida Alliance of Children's ... Non-Profit Organization Ryan Wyllys - Licensed ... Health Consultant Sportex Daytona LLC Entertainment Agency Centurion of Florida Corporate Office

    Suggested Use

    Restaurant Realty agency Building Supply Dental Office Spa & Massage Law Firm Wholesale Shop Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Tallahassee
    County
    Leon
    State
    Florida
    Longitude
    -84.2638472
    Latitude
    30.4394516

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    FAQs

    What type of property is this?
    Government property - Executive & Medical Suites, 10,979 SF Vacant
    Where is this government property located?
    The property is located at 1203 Governors Square Blvd Tallahassee, FL.
    What is the lease rate?
    The lease rate is $18-$21 SF/Yr.
    What are key features of this property?
    This property features: New Ownership and Management.; $1M+ in Planned Capital Improvements for 2023.; Ample Free Surface Parking (4 spaces per 1000 square feet).
    Request Owner's contact information
    1203 Governors Square Blvd Tallahassee, FL 32301
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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
    1203 Governors Square Blvd Tallahassee, FL 32301
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