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Property profile & analytics
OFF-MARKET
Estimated value
$905,000
Industrial properties
1223 Tharpe St Tallahassee, FL 32303-4600
Entity Owned
22-yr Hold
~
Est. High Equity
Property ID
US18-3596235
Property profile
Verified
Property type
Industrial properties
Use group
MIXED USE (COMMERCIAL/INDUSTRIAL)
Year built
1972
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,976 SF
Lot
0.76 ac (33,018 SF)
APN
21-26-20-223-000-0
UPID
US18-3596235
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
-
Swain Pools & Spas General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$870k
Comparable Approach
Comparable
$798k
Blend (final)
Blend
$905k
Owner & transaction history
Jcs Enterprises LLC · 22 yrs held
Jcs Enterprises LLC
since 2003
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.5M
+38.8%
Industrial (general)
$1.4M
+32.2%
Retail stores
$1.3M
+19.4%
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%
$940,000
6.5%
$870,000
7%
$805,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,065,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,480,000
Change: +39% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,410,000
Change: +32% · Conversion: Moderate
RETAIL STORES
$1,275,000
Change: +19% · Conversion: Easy
RESTAURANT
$1,050,000
Change: -2% · Conversion: Difficult
MEDICAL BUILDING
$1,000,000
Change: -6% · Conversion: Easy
OFFICE BUILDING
$985,000
Change: -8% · Conversion: Easy
Blend value · Realmo final
$905k
Range $815k – $996k · ±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
$151 / 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
$6,879
Tax year 2023
Assessed value
$372,767
Assessed 2023
Previous assessed
$316,996
+17.6% YoY
Effective rate
1.85%
On assessed value
Assessed land
$141,152
Assessed improvement
$231,615
Land market value
$141,152
Improvement market value
$231,615
Total market value
$372,767
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
Industrial properties
Use group
MIXED USE (COMMERCIAL/INDUSTRIAL)
Status
Off-Market
Year built
1972
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
WINDOW A/C
Buildings
1
Stories
1
Total area
5,976 SF
Lot
0.76 ac (33,018 SF)
APN
21-26-20-223-000-0
UPID
US18-3596235
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
COMMERCIAL (GENERAL) Current
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.5M
INDUSTRIAL (GENERAL)
Est. value
$1.4M
RETAIL STORES
Est. value
$1.3M
RESTAURANT
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$1.0M
OFFICE BUILDING
Est. value
$985,000
COMMERCIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
RETAIL STORES
RESTAURANT
MEDICAL BUILDING
OFFICE 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
1972
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Buildings
1
Lot
0.76 ac
Current owner
From public records · entity-resolved
Jcs Enterprises LLC
Entity
Mailing address
1223 W THARPE ST, TALLAHASSEE, FL 32303-4600
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2003
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
Jun 21, 2017
—
Jcs Ents LLC
—
Deed
related
—
Apr 29, 2010
—
Jcs Ents LLC
—
Trustees Deed
related
$125,000 · Premier Bank
Aug 14, 2003
$150,000
Jcs Enterprises LLC
Swain,jeffrey
Grant Deed
$200,000 · Premier Bank
—
—
Jcs Ents LLC
—
Loan Modification
related
—
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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