1240 Thomasville Rd Tallahassee, FL 32303-8707
Property profile & analytics
1240 Thomasville Rd Tallahassee, FL 32303-8707
- Community centers
- 10,266 SF
- 0.50 lot acres
Property ID
US18-9946590
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.
Location Intelligence
Current Use by Public Records
- Contextual Code / Marketing & Advertising / (Bike/Boat/Book/etc) Store
- Bloom Esthetics Spa & Facial Bar / Spa & Massage Center / Alternative Medicine Practice
- Barrel Proof Lounge Midtown / Bar & Pub
- OverHang Bar / Bar & Pub
- The One Week Boutique / Department Store
Property Details for 1240 Thomasville Rd
- Year built
- 2009
- Construction
- FRAME
- Lot size
- 0.50 lot acres
- Property size
- 10,266 SF
- Property type
- Community centers
- Property subtype
- Shopping centers
- APN
- 21-25-51-000-001-0
- APU
- 2125510000010
Description
This exceptional investment opportunity presents Orleans at Midtown, a two-story, 11,491 square foot multi-tenant shopping center in Tallahassee, Florida. Located on high-traffic Thomasville Road (34,500 vehicles per day), this property boasts five tenants under Net Lease agreements with built-in rent bumps, providing a hedge against inflation and consistent NOI growth. The current Net Operating Income (NOI) stands at $239,042, yielding a 6.96% cap rate on the $3,435,000 asking price. Landlord responsibilities are limited to roof, structure, foundation, and exterior walls. The property sits on a 0.47-acre lot and was built in 2009. Its strategic location, just two miles from Florida State University (44,000+ students) and three miles from Florida A&M University (10,000+ students), ensures a robust consumer base. The strong demographics are further supported by a 5-mile trade area encompassing over 186,000 residents and 166,000 employees, with an average household income of $88,249 within a one-mile radius. Proximity to downtown Tallahassee, the Capitol building, and other major retailers like Whole Foods, Publix, and Whataburger, enhances its appeal. Tallahassee's rapid growth, including a planned 7-story apartment building with retail space nearby, promises continued value appreciation. This is a rare opportunity to acquire a well-positioned, stable, and growing retail investment in a thriving market. The property's APN is 2125510000010.
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,955,000
- 6.5%
- $1,805,000
- 7%
- $1,675,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $1,032,000
Market price range: $430k - $2.17M
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Tallahassee
- County
- Leon
- State
- Florida
- Longitude
- -84.278
- Latitude
- 30.456
- 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
$20,964
$264,102
$858,803
$1,122,905
-
$264,102
$858,803
$1,122,905
