Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Esplanade Way Tallahassee, FL 32311

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Esplanade Way Tallahassee, FL 32311

    View on Map
    • Retail properties & Spaces
    • 1,200 SF
    • 1.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 0 Esplanade Way

    Lot size
    1.00 lot acres
    Property size
    1,200 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This exceptional investment opportunity presents two buildings totaling 1,200-4,000 square feet on a one-acre lot in Tallahassee, Florida. Located on Esplanade Way, this permit-ready site boasts 275 feet of frontage on South Blairstone Road, offering high visibility at its intersection with the heavily trafficked Capital Circle SE. The property includes a planned 4,000 square foot multi-tenant retail building with a drive-thru option, and a separate 1,200 square foot free-standing building, also with a potential drive-thru. The larger building's end cap space is adaptable, offering flexibility for various restaurant concepts. This location benefits from its proximity to a major Florida government complex (Department of Revenue and Department of Health), a CVS pharmacy, and the League of Southeastern Credit Union's corporate office. The Capital Circle SE Trail, a popular walking and biking path, runs adjacent to the property. Furthermore, the site is conveniently located approximately five miles from downtown Tallahassee and near the entrance to the Southwood Community, a large master-planned residential neighborhood with over 8,000 homes. The asking price is $875,000. This property is vacant and ready for immediate development. The property consists of two buildings on a one-acre lot in Leon County, Florida, zip code 32311.

    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
    -84.232
    Latitude
    30.3976

    Comparable in this City

    • Value Estimation by Request
      2,000 SF

      Tallahassee Pizza Restaurant For Sale Beer And Wine License

      Restaurants • 2,000 SF
      0 Tallahassee Pizza Restaurant For Sale Beer And Wine License, Tallahassee, FL 32311
      View Details
    • Value Estimation by Request
      2,100 SF

      000 Restaurant For Sale - Bring Your Own Concept-Low Rent!

      Restaurants • 2,100 SF
      000 Restaurant For Sale - Bring Your Own Concept-Low Rent!, Tallahassee, FL 32311
      View Details
    • Value Estimation by Request
      1,363 SF

      000 Annual Sales

      Restaurants • 1,363 SF
      000 Annual Sales, Tallahassee, FL 32311
      View Details
    • Value Estimation by Request
      6,000 SF

      000 Annual Earnings

      Restaurants • 6,000 SF
      000 Annual Earnings, Tallahassee, FL 32311
      View Details
    • Value Estimation by Request
      1,363 SF

      Turnkey Chicken Concept Restaurant For Sale With Real Est

      Restaurants • 1,363 SF
      0 Turnkey Chicken Concept Restaurant For Sale With Real Est, Tallahassee, FL 32311
      View Details
    • Value Estimation by Request
      0.76 Acres

      Se & Tram Rd

      Land • 0.76 Acres
      0 Se & Tram Rd, Tallahassee, FL 32311
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      32,590 SF

      Southwood Town Center Retail Asset

      32,590 SF NNN asset in Tallahassee, Florida for sale.
      3196 Merchants Row Blvd, Tallahassee, FL 32311
      View Details
    • Contact for pricing
      4,464 SF

      Former Bank Branch For Sale

      4,464 SF former bank branch in southeast Tallahassee.
      3641 Coolidge Ct, Tallahassee, FL 32311
      View Details
    • $1,000,000

      Former Bank Branch For Sale

      4,464 SF former bank branch in southeast Tallahassee.
      3641 Coolidge Ct, Tallahassee, FL 32311
      View Details
    • $2,500,000

      Prime Commercial Land Opportunity

      2 Acres for Commercial/Retail/Self Storage Development in Tallahassee's Growing Area.
      1977 Quail Grove Ln, Tallahassee, FL 32311
      View Details
    • Contact for pricing

      Land in Southwood Community

      Two parcels totaling 0.87 acres in Southwood community.
      Orange Ave & Capital Cir SE, Tallahassee, FL 32311
      View Details
    • $599,000

      Development Opportunity Near Apalachee Parkway

      Land with development potential near Apalachee Parkway.
      3392 Louvinia Dr, Tallahassee, FL 32311
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Esplanade Way
    Tallahassee, FL 32311
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    Esplanade Way, Tallahassee, FL, 32311

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!