Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    116 S Gadsden St Tallahassee, FL 32301

    • Commercial land
    • 2,016 SF
    • 0.08 lot acres
    For Sale
    View listing
    $160,000
    Last Sale
    Mar 03, 2025
    $100,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3127831
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Pro Towing and Roadside Ltd. / Towing Service
    • SR22 Insurance / Insurance Broker

    Property Details for 116 S Gadsden St

    Year built
    1971
    Lot size
    0.08 lot acres
    Property size
    2,016 SF
    Property type
    Commercial land
    APN
    21-36-25-076-133-0
    APU
    2136250761330

    Description

    This exceptional 0.08-acre commercial lot, located at 116 S. Gadsden St in Tallahassee, Florida (zip code 32301), presents a unique development opportunity. Situated in the heart of downtown Tallahassee, this cleared lot boasts approximate dimensions of 38 feet by 87 feet and is zoned Central Core (CC), offering a wide range of potential uses. The previous structure has been demolished, leaving the site ready for immediate development. Its prime location provides tremendous exposure along Gadsden Street and is within walking distance of the numerous retail and commercial establishments along Monroe Street. The asking price for this highly desirable property is $179,000. Given its central location and zoning, potential uses could include residential development, a small office building, or other compatible commercial ventures. This is a rare opportunity to acquire a cleared lot in a thriving downtown area, ideal for investors seeking a high-impact project. The property's central location and zoning flexibility make it an attractive investment for those seeking to capitalize on Tallahassee's growing market. The lot's dimensions and location offer significant potential for a variety of development projects.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Tallahassee
    County
    Leon
    State
    Florida
    Longitude
    -84.2785
    Latitude
    30.4412
    CBSA code
    45220
    CBSA name
    TALLAHASSEE, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $1,915
    $94,095
    $0.00
    $94,095
    -
    $94,095
    $0.00
    $94,095

    Comparable in this City

    • Value Estimation by Request
      0.27 Acres

      504 Macomb St

      VACANT COMMERCIAL LAND • 0.27 Acres
      504 Macomb St, Tallahassee, FL 32301-1022
      View Details
    • Value Estimation by Request
      0.22 Acres

      Park E Ave

      VACANT COMMERCIAL LAND • 0.22 Acres
      Park E Ave, Tallahassee, FL 32301
      View Details
    • Value Estimation by Request
      0.11 Acres

      2409 Monroe St

      VACANT COMMERCIAL LAND • 0.11 Acres
      2409 Monroe St, Tallahassee, FL 32301-6304
      View Details
    • Value Estimation by Request
      0.11 Acres

      465 Virginia St

      VACANT COMMERCIAL LAND • 0.11 Acres
      465 Virginia St, Tallahassee, FL 32301-1029
      View Details
    • Value Estimation by Request
      0.20 Acres

      Chowkeebin Nene

      VACANT COMMERCIAL LAND • 0.20 Acres
      Chowkeebin Nene, Tallahassee, FL 32301
      View Details
    • Value Estimation by Request
      0.07 Acres

      College Ave

      VACANT COMMERCIAL LAND • 0.07 Acres
      College Ave, Tallahassee, FL 32301
      View Details

    Similar Nearby for Sale

    • $2,500,000

      Land Parcels For Mixed Use

      Two land parcels suitable for a mixed-use development project.
      W Seaboard St, Tallahassee, FL 32301
      View Details
    • $160,000
      0.08 Acres

      Downtown Tallahassee Land - 0.08 Acres

      Cleared lot, prime downtown location, development ready.
      116 S Gadsden St, Tallahassee, FL 32301
      View Details
    • $675,000
      0.52 Acres

      Downtown Tallahassee Mixed-Use Opportunity

      Mixed-use property with redevelopment potential near Florida Capitol.
      524 E College Ave, Tallahassee, FL 32301
      View Details
    • $850,000
      1 SF

      Vacant Lot in Premier Area

      Rare vacant lot in Tallahassee's premier business area.
      531 Silver Slipper Ln, Tallahassee, FL 32301
      View Details
    • $180,000
      1.24 Acres

      Commercial Land in Tallahassee, FL

      Commercial land with multiple possibilities in Tallahassee, Florida.
      E Paul Russell St, Tallahassee, FL 32301
      View Details
    • $170,000
      2.69 Acres

      Tallahassee Land For Sale

      2.69 acre lot zoned CU-45 in South City Tallahassee.
      2509 S Meridian St, Tallahassee, FL 32301
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Commercial Land Ready For Development

      Rough graded commercial land near Governor's Square Mall.
      2020 Apalachee Pkwy, Tallahassee, FL 32301
      View Details
    • $9,583 /Mo
      50,530 SF

      Tallahassee Retail Land Opportunity

      High-traffic location, build-to-suit or ground lease.
      1311 Executive Center Cir W, Tallahassee, FL 32301
      View Details
    • Contact for pricing

      Tallahassee Outparcel: Cross Creek

      1.5-acre commercial land, high traffic area.
      0 Capital Cir, Tallahassee, FL 32301
      View Details
    • $10 SF/Yr
      8,400 SF

      Crescent Park Warehouse - Tallahassee

      8,400 SF Warehouse Space Available
      2931 Crescent Dr, Tallahassee, FL 32301
      View Details
    • Contact for pricing
      7,890 SF

      Premier Retail Location

      Individual retail properties • 7,890 SF
      2000 Apalachee Pkwy, Tallahassee, FL 32301
      View Details
    • Contact for pricing
      288 SF

      Office Space Available For Rent

      Office space available for rent, totaling 288 square feet.
      1020 E Lafayette St, Tallahassee, FL 32301
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    116 S Gadsden St
    Tallahassee, FL 32301
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.