Property profile

113 Monroe St Unit 1ST 1st Tallahassee, FL 32301

FOR LEASE
Office buildings
Property ID
US18-6129244
2,128 SF 0.43 ac lot Built 2011
Individually Owned 2-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional 9,000 square foot Class A office condo, located at 113 S Monroe St in Tallahassee, Florida, presents a compelling value-add investment opportunity. Built in 2009, the single-story building features a modern design and efficient floor plan, situated on a highly visible and accessible location in the heart of downtown Tallahassee. Currently leased to a single tenant under a gross lease agreement until September 30, 2029, with a remaining lease term of approximately 4.9 years, this property offers a stable income stream with significant upside potential. The property is zoned CC, allowing for versatile office uses. The building boasts 9 dedicated parking spaces, adding to its convenience and appeal. Its contemporary design and well-maintained condition, combined with its prime location and ample amenities in the surrounding area, make this a highly desirable asset for investors seeking a strong return in a stable market. The property's below-market lease rate presents a clear opportunity for value enhancement. This is a rare chance to acquire a prominent office space in Tallahassee's thriving downtown area. The property's location provides excellent visibility and accessibility, making it an ideal choice for a variety of professional and corporate tenants.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 2011
Construction STEEL FRAME
Total area 2,128 SF
Lot 0.43 ac (18,731 SF)
APN 21-36-81-000-113-0
UPID US18-6129244

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Loan Service Bank
  • Landscaping General Contractor
  • Big Box & Wholesale Store
  • Advertising Agency Marketing & Advertising
  • Insurance Agency

Location

113 Monroe St Unit 1ST, Unit 1st Tallahassee, FL 32301
Tallahassee metro Census 200 TALLAHASSEE, FL METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$310k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$310k

Owner & transaction history

since 2023
4 recorded transactions
2023
$550,000
2023
$350,000
2020
$9.4M
1969
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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