501 Tennessee St Tallahassee, FL 32308
- Office Properties & Spaces
- 8,166 SF
- 0.45 lot acres
Current Use by Public Records
- Roberts Gary A / Attorney
- Providence Reformed Baptist Church / Baptist Church
- Fryson Drum Academy / Education Center / Drum School
- Seepersaud Studios / Music School / Guitar Instructor
- Florida Network-Child Advocacy / Association Or Organization / Health
Property Details for 501 Tennessee St
- Year built
- 1940
- Lot size
- 0.45 lot acres
- Property size
- 8,166 SF
- Property type
- Office Properties & Spaces
Description
This exceptional investment opportunity presents a well-maintained, multi-tenant office building located at 501 E Tennessee St, Tallahassee, Florida. The property, built in 1940 and renovated in 1988, encompasses 8,166 square feet of net rentable space, distributed across five individual units within a single, two-story building. Currently operating at 100% occupancy, the building generates a substantial net operating income (NOI) of $76,628, yielding a 5.47% cap rate. The asking price is $1,400,000, translating to $171.44 per square foot. Situated on a 0.45-acre lot, the property benefits from ample parking and a highly visible corner location. The CU-45 zoning allows for a variety of commercial uses. This centrally located asset presents a compelling opportunity for both investors seeking strong returns and owner-users looking for a well-established presence in Tallahassee's thriving commercial market. The property's history, combined with its modern functionality and excellent location, makes it a truly unique investment prospect. The Leon County property features a convenient address and is easily accessible. The APN is 11-31-78-000-001.0.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Tallahassee
- County
- Leon
- State
- Florida
- Longitude
- -84.2768
- Latitude
- 30.4445
