New search
Property profile & analytics
OFF-MARKET
Estimated value
$2,340,000
Retail space
1126 Thomasville Rd Tallahassee, FL 32303-6272
Individually Owned
4-yr Hold
Free & Clear
Property ID
US18-4236194
Property summary
AI-generated overview
This exceptional investment opportunity presents a fee-simple ownership of a 4,434 square foot retail property located at 1126 Thomasville Rd, Tallahassee, FL 32303, in Leon County. The property, built in 1964 and renovated in 2021, sits on a 0.41-acre lot and is currently 100% occupied by Sunburn Cannabis under a Net Net (NN) lease with a corporate guarantee. The lease commenced February 28, 2019, and has a remaining term of approximately 8.3 years, with two 5-year lease options. The current annual rent is $225,747, representing a price per square foot of $676.59 and a 7.52% cap rate. The lease includes a favorable 2.50% annual rent escalation clause, providing a hedge against inflation. A new roof installed in 2023 boasts a transferable 15-year warranty. The property's APN is 21-25-45-000-134-2. This is a single-tenant, single-building property offering a stable, high-yielding investment with significant long-term potential. The asking price is $3,000,000.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1964
Construction
FRAME
Total area
4,420 SF
Lot
0.41 ac (17,860 SF)
APN
21-25-45-000-134-2
UPID
US18-4236194
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
-
Sunburn Cannabis (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.44M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.45M
Blend (final)
Blend
$2.34M
Owner & transaction history
M Dennis Niernberg · 4 yrs held
M Dennis Niernberg
since 2022
Last sale
$2.8M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$2,200,000
ML approach
$2,440,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.34M
Range $2.11M – $2.57M · ±10% · vs last sale $2.80M (Feb 1 2022)
Last sale anchor
$2.80M
Feb 1 2022
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
$529 / 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
Tax billed
$17,049
Tax year 2023
Assessed value
$881,098
Assessed 2023
Previous assessed
$798,640
+10.3% YoY
Effective rate
1.93%
On assessed value
Assessed land
$191,995
Assessed improvement
$689,103
Land market value
$191,995
Improvement market value
$689,103
Total market value
$881,098
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1964
Construction
FRAME
Heating
YES
Cooling
YES
Buildings
1
Stories
1
Total area
4,420 SF
Lot
0.41 ac (17,860 SF)
APN
21-25-45-000-134-2
UPID
US18-4236194
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
Building & site characteristics
From public records
Year built
1964
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Buildings
1
Lot
0.41 ac
Current owner
From public records · entity-resolved
M Dennis Niernberg
Individual
Free & Clear · 4 yrs held
Mailing address
2777 S ELMIRA ST APT #7, DENVER, CO 80231-3940
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 1, 2022
$2,800,000
M Dennis Niernberg
Lr Thomasville LLC
Special Warranty Deed
—
Mar 21, 2019
$1,350,000
Lr Thomasville LLC
Emo Family Trust
Grant Deed
$1,075,781 · Trivest Inv Ptrs LLC
Apr 17, 2015
—
Emo Family Trust
Emo Warren A & Vicki S
Quit Claim Deed
related
—
Apr 30, 1999
$354,200
Warren A Emo
Coven,jack
Grant Deed
$360,000 · Capital City Bank
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1126 Thomasville Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
