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    Property profile & analytics

    1706 Capital Cir Tallahassee, FL 32308

    • Retail properties
    • 18,000 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Pizza Hut / Restaurant
    • .. / Spa & Massage Center

    Property Details for 1706 Capital Cir

    Year built
    1987
    Property size
    18,000 SF
    Property type
    Retail properties
    Property subtype
    Retail space

    Description

    This exceptional retail investment opportunity encompasses two buildings totaling 18,000 square feet situated on a 1.42-acre lot at 1704-1706 Capital Circle NE in Tallahassee, Florida (zip code 32308). Built in 1987 and extensively renovated in 2019, this property offers multiple tenancy options with spaces ranging from 1,750 to 5,000 square feet currently available. The property features a highly visible corner location at the intersection of Capital Circle NE and Easter Stanley Court, benefiting from excellent street visibility and ample lighting. Its convenient location just north of Mahan Drive ensures high traffic volume and accessibility. The zoning is designated as CP. The property's APN is 11-21-20-444-0010. This single-story retail center presents a unique chance to acquire a well-maintained, established property in a thriving Tallahassee commercial district. The property's size and layout offer flexibility for a variety of retail uses. This is an ideal opportunity for investors seeking a strong return on investment in a desirable location. A total of 6750 square feet is currently available for lease.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Tallahassee
    County
    Leon
    State
    Florida
    Longitude
    -84.2289
    Latitude
    30.4636

    Comparable in this City

    • Value Estimation by Request

      Shops at Mahan

      Retail center available
      3348 Mahan Drive | Tallahassee, FL 32308, Tallahassee, FL 32308
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    • Value Estimation by Request
      2,400 SF

      3404 Mahan Dr

      RETAIL STORES (PERSONAL SERVICES) • 2,400 SF
      3404 Mahan Dr, Tallahassee, FL 32308-5667
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    • Value Estimation by Request
      992 SF

      2234 Capital Cir Nea

      RETAIL STORES (PERSONAL SERVICES) • 992 SF
      2234 Capital Cir Nea, Tallahassee, FL 32308-4306
      View Details
    • Value Estimation
      $605,000
      3,967 SF

      1407 Mahan Dr

      RETAIL STORES (PERSONAL SERVICES) • 3,967 SF
      1407 Mahan Dr, Tallahassee, FL 32308-5109
      View Details
    • Value Estimation by Request
      1,312 SF

      2613 Centerville Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,312 SF
      2613 Centerville Rd, Tallahassee, FL 32308-4503
      View Details
    • Value Estimation
      $655,000
      3,636 SF

      1622 Capital NE Cir

      RETAIL STORES (PERSONAL SERVICES) • 3,636 SF
      1622 Capital NE Cir, Tallahassee, FL 32308-5502
      View Details

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    Similar Nearby for Lease

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      Retail Space For Lease

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      Capital Circle NE Retail Center

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    • $25 SF/Yr
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    1706 Capital Cir
    Tallahassee, FL 32308
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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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