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    5047 Tennessee Capital Blvd Tallahassee, FL 32303
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    5047 Tennessee Capital Blvd, Tallahassee, FL 32303

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    • Neighborhood centers
    • 0.47 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 5047 Tennessee Capital Blvd

    Lot size
    0.47 lot acres
    Property type
    Neighborhood centers
    Property subtype
    Shopping centers

    Description

    This exceptional opportunity presents six contiguous lots totaling approximately 1.94 to 1.98 acres (exact acreage to be verified by survey) for sale in Northwest Tallahassee, Florida. Located on Tennessee Capital Blvd, these parcels are zoned AC (Activity Center) and range in size from approximately 0.47 acres to 0.63 acres. The property's strategic location offers excellent visibility and accessibility, situated near established retail centers and major thoroughfares such as Capital Circle NW and West Tennessee Street. This prime location provides convenient access to a thriving commercial corridor and a dense population base. The individual lots are ideal for a variety of commercial uses, including office buildings, retail spaces, or a strip shopping center. Each lot is priced at $80,000, offering a compelling investment opportunity for developers seeking to capitalize on the growing commercial landscape of Northwest Tallahassee. The APN numbers for the six lots are 21-30-60 B-0410; B-0420; B-0430; B-0440; B-0450; B-0460. Further details are available upon request.

    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
    -84.364
    Latitude
    30.4614

    Comparable in this City

    • Value Estimation by Request
      0.53 Acres

      5052 Tennessee Capital Blvd

      Lifestyle centers
      5052 Tennessee Capital Blvd, Tallahassee, FL 32303
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    • Value Estimation by Request
      10,650 SF

      739 Monroe St

      Retail properties & Spaces
      739 Monroe St, Tallahassee, FL 32303
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      11,150 SF

      5030 Tennessee Capital Blvd

      Flex space
      5030 Tennessee Capital Blvd, Tallahassee, FL 32303
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    • Value Estimation by Request
      90,322 SF

      1700 Monroe St

      Retail properties & Spaces
      1700 Monroe St, Tallahassee, FL 32303
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    • Value Estimation by Request
      1.69 Acres

      Capital Cir

      Land
      0 Capital Cir, Tallahassee, FL 32303
      View Details
    • Value Estimation
      $2,740,000
      25,446 SF

      1106 Thomasville Rd Ste A

      SHOPPING CENTER, STRIP CENTER
      1106 Thomasville Rd Ste A, Tallahassee, FL 32303-6287
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Capital Circle NW Commercial Parcels

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    • $859,900
      0.86 Acres

      Mixed-Use Investment Opportunity

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      17,544 SF

      NNN Retail Investment Opportunity

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      Waterfront Restaurant Opportunity on Lake Jackson

      Turn-key restaurant with lake views, ample parking, and outdoor stage.
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    • $1,100,000

      Prime Tallahassee Retail Investment Opportunity

      4,846 SF former restaurant building near Florida State University.
      220 W Tennessee St, Tallahassee, FL 32303
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      Turnkey Restaurant in Tallahassee

      Restaurant with dedicated clientele, fully built kitchen, ample parking.
      3840 N Monroe St, Tallahassee, FL 32303
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    Similar Nearby for Lease

    • $12 SF/Yr

      Retail Space in Tallahassee Mall

      Retail space available in the Centre of Tallahassee.
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      1,200 SF

      Retail Space in Tallahassee Center

      Publix-anchored retail space available in Tallahassee, Florida.
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    • $20 SF/Yr
      5,330 SF

      Tharpe Street Retail Opportunity

      Prime Tallahassee Retail Space Available
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      Office Space with Incredible Views

      Office space available for lease with amazing views.
      4901 Tower Ct, Tallahassee, FL 32303
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      Prime Tallahassee Retail Location

      Central location with high traffic and established tenants.
      1700 N Monroe St, Tallahassee, FL 32303
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    • Contact for pricing
      9,918 SF

      Retail Space on Thomasville Road

      Retail space with high visibility and multiple access points.
      1800-1898 Thomasville Rd, Tallahassee, FL 32303
      View Details
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    Tallahassee, FL 32303
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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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