Brick Quadruplex with
997 Sutor Rd Tallahassee, FL 32311
997 Sutor Rd, Tallahassee, FL, 32311
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For Sale
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Brick quadruplex with four identical 2-bedroom units, private covered patios/decks, and on-site washer/dryer areas in each unit.
Property Size3,108 SF
Lot Size0.21 Acres
Price / SF$168.92
Days on Market107
Property Features for 997 Sutor Rd
General Information
- Standard status
- Active
- Size
- 3,108 SF
- Lot size
- 0.21 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1981
Listing agency
The Multifamily Advisors
Listed by
Joe Klenck · License #FLSL3555950
Source
Crexi
Added: Apr 6 Updated: Jul 21 at 1:05AM Checked: Jul 21 at 8:04AM
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 The Multifamily Advisors
Investment Insights
Based on property information with market context.
This brick construction quadruplex was built in 1981 and consists of a single 2-story structure containing four identical units. Each unit offers 2 bedrooms and 1 bathroom with approximately 777 square feet of living space, along with private covered patio/deck areas and an outside washer/dryer utility room. Three of the four units are currently occupied and generating income, while one unit was recently vacated and is ready for immediate move-in.
The property is situated just steps from A-rated Lincoln High School. It is centrally located with easy access to Governor’s Square, downtown Tallahassee, Florida State University, and FAMU, supporting steady rental demand in the surrounding area.
All units are on month-to-month leases, and current in-place rents range from $950 to $1,000 per month. Tenants pay all utilities, including city water and sewer. The roof was replaced in 2011, supporting long-term durability for the building.
The property is situated just steps from A-rated Lincoln High School. It is centrally located with easy access to Governor’s Square, downtown Tallahassee, Florida State University, and FAMU, supporting steady rental demand in the surrounding area.
All units are on month-to-month leases, and current in-place rents range from $950 to $1,000 per month. Tenants pay all utilities, including city water and sewer. The roof was replaced in 2011, supporting long-term durability for the building.
Key Highlights
- Brick quadruplex built in 1981 with 4 identical units: 2 bed/1 bath, 777 SF each (3,108 SF total).
- Income‑producing setup: 3 of 4 units currently occupied and generating rent; 1 unit recently vacated and available for immediate move‑in.
- Unit mix and leases: all units on month‑to‑month leases with in‑place rents ranging from $950–$1,000/month.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $50.3k | $16.20 |
| − Vacancy | −$3.8k | −$1.23 |
| EGI | $46.5k | $14.97 |
| − OpEx | −$14.0k | −$4.49 |
| NOI | $32.6k | $10.48 |
3,108 SF · lease $16.20/SF/yr · vacancy 7.60% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$465.2K
$407.1K – $542.8K
NOI $32,566 @ 7.0% cap · market cap 6.20%
Second Best
Apartment 5plus
$404.4K
$353.9K – $471.8K
NOI $28,308 @ 7.0% cap · market cap 5.39%
Theoretical Best
Office A
$761.9K
$666.7K – $888.9K
NOI $53,336 @ 7.0% cap · market cap 10.16%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
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FAQs
What type of property is this?
Quadplex - Brick quadruplex with four identical 2-bedroom units, private covered patios/decks, and on-site washer/dryer areas in each unit.
Where is this quadplex located?
The property is located at 997 Sutor Rd Tallahassee, FL.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Brick quadruplex built in 1981 with 4 identical units: 2 bed/1 bath, 777 SF each (3,108 SF total).; Income‑producing setup: 3 of 4 units currently occupied and generating rent; 1 unit recently vacated and available for immediate move‑in.; Unit mix and leases: all units on month‑to‑month leases with in‑place rents ranging from $950–$1,000/month.
