1203 Governors Square Blvd Tallahassee, FL 32301
- Office buildings
- 58,176 SF
- 2.56 lot acres
Current Use by Public Records
- Agricultural Environmental Services / Environmental Health Service
- Florida Alliance of Children's Councils and Trusts / Non-Profit Organization / Association / Organization
- Ryan Wyllys - Licensed Health Advisor / Health Consultant
- Sportex Daytona LLC / Entertainment Agency
- Centurion of Florida / Corporate Office
Property Details for 1203 Governors Square Blvd
- Year built
- 1987
- Construction
- FRAME
- Lot size
- 2.56 lot acres
- Property size
- 58,176 SF
- Property type
- Office buildings
- APN
- 11-31-65- E-001-0
- APU
- 113165E0010
Description
Magnolia Centre I, located at 1203 Governors Square Blvd in Tallahassee, Florida (zip code 32301), offers a prime opportunity for businesses seeking executive or medical office space. This Class B building boasts a total of 58,176 square feet, with flexible floor plans accommodating various needs. Currently, 10,979 square feet of space is available, divisible into units as small as 1,872 square feet, with a maximum contiguous space of 3,480 square feet. Four spaces are currently available, ranging from 1,576 to 6,655 square feet. The building features two elevators and ample parking with a 5:1000 ratio. Each floor comprises 9,700 square feet, allowing for customizable layouts, from open floor plans to more traditional office setups. The building's location offers convenient access to key state government agencies, including Lottery Headquarters and FL-DOT Headquarters, while providing competitive lease terms. This downtown Tallahassee location offers significant value compared to typical market rates. The property is suitable for multiple tenants and caters to various business types, including executive offices, medical offices, back offices, professional services, government entities, and institutional users.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $3,420,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $3,285,000
- 6.5%
- $2,945,000
- 7%
- $3,005,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $3,160,000
- Geo Method
- $2,600,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $3,540,000
- Retail
- $2,830,000
- Mixed-Use
- $3,305,000
- Hospitality
- $3,175,000
- Educational
- $2,965,000
- Residential Income
- $2,975,000
- Energy
- $2,765,000
- Income-Based Land
- $3,375,000
- Food Service
- $3,130,000
Location Insight
- Map
- Local Demand
- City
- Tallahassee
- County
- Leon
- State
- Florida
- Longitude
- -84.264
- Latitude
- 30.4392
- CBSA code
- 45220
- CBSA name
- TALLAHASSEE, FL METROPOLITAN STATISTICAL AREA
