113 Monroe St 1st, Tallahassee, FL 32301
This exceptional 9,000 square foot Class A office condo, located at 113 S Monroe St in Tallahassee, Florida, presents a compelling value-add investment opportunity. Built in 2009, the single-story building features a modern design and efficient floor plan, situated on a highly visible and accessible location in the heart of downtown Tallahassee. Currently leased to a single tenant under a gross lease agreement until September 30, 2029, with a remaining lease term of approximately 4.9 years, this property offers a stable income stream with significant upside potential. The property is zoned CC, allowing for versatile office uses. The building boasts 9 dedicated parking spaces, adding to its convenience and appeal. Its contemporary design and well-maintained condition, combined with its prime location and ample amenities in the surrounding area, make this a highly desirable asset for investors seeking a strong return in a stable market. The property's below-market lease rate presents a clear opportunity for value enhancement. This is a rare chance to acquire a prominent office space in Tallahassee's thriving downtown area. The property's location provides excellent visibility and accessibility, making it an ideal choice for a variety of professional and corporate tenants.
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Carrie Edgerson - VanDyk Mortgage Corporation Loan Service Bank
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Morris-Depew Associates Inc Landscaping General Contractor
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Canon Solutions America Big Box & Wholesale Store
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Integrated Webworks Advertising Agency Marketing & Advertising
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First Choice Life & Annuity, Inc. Insurance Agency
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.