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Property profile & analytics
OFF-MARKET
Estimated value
$3,715,000
Office buildings
111 Monroe St, Tallahassee, FL 32301-1536
Entity Owned
11-yr Hold
Free & Clear
Property ID
US18-2465691
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
23,012 SF
Lot
0.17 ac (7,405 SF)
APN
21-36-25-080-134-0
UPID
US18-2465691
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
The Jim Moran Institute for Global Entrepreneurship Academic Department Business Development Service
-
Jim Moran Building University
-
Jim Moran College of Entrepreneurship - Downtown Location Academic Department
-
David S. Walker Library Community Center
-
HR Creation Web Services Advertising Agency Marketing & Advertising
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.64M
Comparable Approach
Comparable
$4.00M
Blend (final)
Blend
$3.72M
Owner & transaction history
Park Monroe LLC · 11 yrs held
Park Monroe LLC
since 2015
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$5.4M
+26.7%
Retail stores
$4.9M
+14.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Tallahassee submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tallahassee submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$5,025,000
6.5%
$4,640,000
7%
$4,310,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,285,000
Current use
INDUSTRIAL (GENERAL)
$5,430,000
Change: +27% · Conversion: Difficult
RETAIL STORES
$4,900,000
Change: +14% · Conversion: Moderate
COMMERCIAL (GENERAL)
$3,965,000
Change: -7% · Conversion: Easy
MEDICAL BUILDING
$3,855,000
Change: -10% · Conversion: Easy
Blend value · Realmo final
$3.72M
Range $3.34M – $4.09M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$161 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Assessed value
$2,077,820
Assessed 2023
Previous assessed
$1,965,916
+5.7% YoY
Assessed land
$348,035
Assessed improvement
$1,729,785
Land market value
$348,035
Improvement market value
$1,729,785
Total market value
$2,077,820
Applied tax rate
3.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Buildings
1
Stories
2
Total area
23,012 SF
Lot
0.17 ac (7,405 SF)
APN
21-36-25-080-134-0
UPID
US18-2465691
Jurisdiction
LEON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$4.3M
INDUSTRIAL (GENERAL)
Est. value
$5.4M
RETAIL STORES
Est. value
$4.9M
COMMERCIAL (GENERAL)
Est. value
$4.0M
MEDICAL BUILDING
Est. value
$3.9M
OFFICE BUILDING Current
INDUSTRIAL (GENERAL)
RETAIL STORES
COMMERCIAL (GENERAL)
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
2
Buildings
1
Lot
0.17 ac
Current owner
From public records · entity-resolved
Park Monroe LLC
Entity
Free & Clear · 11 yrs held
Mailing address
222 S COPELAND ST, TALLAHASSEE, FL 32304-4304
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 3, 2015
$1,550,000
Park Monroe LLC
Rft Asset Management LLC
Warranty Deed
—
Aug 3, 2011
$1,150,000
Rft Asset Management LLC
Regions Bk
Grant Deed
related
—
Feb 22, 2010
$2,550,600
Regions Bk
Park & Monroe Real Estate Corp
Deed In Lieu Of Foreclosure
—
Dec 15, 2004
$3,500,000
Park & Monroe Real Estate Corp
Hancock Bank Of Florida
Grant Deed
$3,150,000 · Amsouth Bank
Dec 7, 2004
$2,200,000
Hancock Bank Of Florida
Guaranty Natl Bk Of Tallahassee
Grant Deed
related
—
—
—
Rft Asset Management LLC
—
Deed Of Trust
related
$1,000,000 · Farmers & Merchants Bk & Tr
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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