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    Mahan Dr Tallahassee, FL 32317

    • Land
    • 19.40 lot acres
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Mahan Dr

    Lot size
    19.40 lot acres
    Property type
    Land

    Description

    This exceptional 19.4-acre land parcel presents a prime opportunity for multifamily development in Tallahassee, Florida. Located in the burgeoning Heel development, this site is strategically positioned for immediate success. The property boasts entitlements for up to 300 multifamily units, eliminating significant pre-development hurdles. Furthermore, off-site stormwater management is already allocated, and essential road infrastructure and utilities are stubbed to the property line, streamlining the construction process and minimizing upfront costs. This advantageous location places the development adjacent to a hotel, a planned grocery-anchored retail center, various retail pads, and directly at the entrance to a thriving 1,500-home master-planned community. The surrounding area also includes an additional 600 entitled multifamily units, 25+ acres of commercially zoned land, and a 100+ acre business park, ensuring a robust and growing community to support the development. This is a rare opportunity to acquire a fully entitled site with significant infrastructure already in place, poised for immediate development in a high-demand location. The property's address is Mahan Dr, Tallahassee, FL 32317, within Leon County. This site offers exceptional potential for a high-return multifamily investment.

    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
    -84.1467
    Latitude
    30.4884

    Comparable in this City

    • Value Estimation by Request
      2.90 Acres

      X Mahan Dr

      Land • 2.90 Acres
      0 X Mahan Dr, Tallahassee, FL 32317
      View Details
    • Value Estimation by Request
      1.00 Acre

      Xx Mahan Dr

      Land • 1.00 Acre
      0 Xx Mahan Dr, Tallahassee, FL 32317
      View Details
    • Value Estimation by Request
      1.60 Acres

      4067 Lagniappe Way

      Land • 1.60 Acres
      4067 Lagniappe Way, Tallahassee, FL 32317
      View Details
    • Value Estimation by Request
      2.72 Acres

      Lagniappe Way

      Land • 2.72 Acres
      0 Lagniappe Way, Tallahassee, FL 32317
      View Details
    • Value Estimation by Request
      8.86 Acres

      3450 Acadian Blvd

      VACANT COMMERCIAL LAND • 8.86 Acres
      3450 Acadian Blvd, Tallahassee, FL 32317
      View Details
    • Value Estimation by Request
      1.26 Acres

      Lagniappe Way

      VACANT COMMERCIAL LAND • 1.26 Acres
      Lagniappe Way, Tallahassee, FL 32317
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      19.40 Acres

      Tallahassee Multifamily Land Opportunity

      19.4 Acres, 300+ Unit Potential
      0 Mahan Dr, Tallahassee, FL 32317
      View Details
    • Contact for pricing
      2.90 Acres

      Heel Gas Station Site: Prime Retail Land

      2.9-acre commercial lot in Tallahassee, FL.
      0 X Mahan Dr, Tallahassee, FL 32317
      View Details
    • Contact for pricing
      1.00 Acre

      Prime Tallahassee Retail Land

      Mahan Drive retail sites, 1-23.5 acres.
      0 Xx Mahan Dr, Tallahassee, FL 32317
      View Details
    • New
      Contact for pricing
      1.47 Acres

      Wooded Lot in Tallahassee, FL

      1.47-acre wooded lot with mature trees and natural landscape.
      Forest Run Dr, Tallahassee, FL 32317
      View Details
    • $179,000
      5.27 Acres

      Tallahassee Land For Sale

      5.27 acre wooded lot near shopping, dining, and schools.
      Buck Lake Rd, Tallahassee, FL 32317
      View Details
    • $2,500,000
      295.00 Acres

      295 Acres in Tallahassee, FL

      295 acres of land with mature pines and pasture.
      Mahan Dr, Tallahassee, FL 32317
      View Details

    Similar Nearby for Lease

    • $21 SF/Yr
      3,823 SF

      Prime Tallahassee Office Sublease

      Class A space, 3,823 sq ft, Summit East
      2073 Summit Lake Drive, Tallahassee, FL 32317
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    • Contact for pricing
      196,812 SF

      Retail Space in Tallahassee

      Retail property with 196,812 SF and ample parking.
      4021 Lagniappe Way, Tallahassee, FL 32317
      View Details
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    Mahan Dr
    Tallahassee, FL 32317
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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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