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Property profile & analytics
OFF-MARKET
Estimated value
$955,000
Retail space
1313 Apalachee Pkwy Tallahassee, FL 32301-3001
Entity Owned
Absentee Owner
Free & Clear
Property ID
US18-3314184
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2005
Construction
FRAME
Total area
6,050 SF
Lot
0.67 ac (29,185 SF)
APN
11-31-20-410-000-0
UPID
US18-3314184
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
-
The Vitamin Shoppe (Bike/Boat/Book/etc) Store Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$905k
Comparable Approach
Comparable
$700k
Blend (final)
Blend
$955k
Owner & transaction history
Morning Star Properties LLC
Morning Star Properties LLC
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$1.4M
+10.8%
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%
$980,000
6.5%
$905,000
7%
$840,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,290,000
Current use
INDUSTRIAL (GENERAL)
$1,425,000
Change: +11% · Conversion: Difficult
OFFICE BUILDING
$1,125,000
Change: -13% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,040,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$955k
Range $860k – $1.05M · ±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
$158 / 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
$17,690
Tax year 2023
Assessed value
$914,241
Assessed 2023
Previous assessed
$841,833
+8.6% YoY
Effective rate
1.93%
On assessed value
Assessed land
$233,480
Assessed improvement
$680,761
Land market value
$233,480
Improvement market value
$680,761
Total market value
$914,241
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
2005
Construction
FRAME
Heating
YES
Cooling
YES
Buildings
1
Stories
1
Total area
6,050 SF
Lot
0.67 ac (29,185 SF)
APN
11-31-20-410-000-0
UPID
US18-3314184
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
RETAIL STORES Current
Est. value
$1.3M
INDUSTRIAL (GENERAL)
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.0M
RETAIL STORES Current
INDUSTRIAL (GENERAL)
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
2005
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Buildings
1
Lot
0.67 ac
Current owner
From public records · entity-resolved
Morning Star Properties LLC
Entity
Free & Clear · 0 yrs held
Mailing address
2057 DELTA WAY, TALLAHASSEE, FL 32303-4227
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Morning Star Properties 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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