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Property profile & analytics
OFF-MARKET
Estimated value
$565,000
Medical Office Space
1378 Timberlane Rd, Tallahassee, FL 32312-1766
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-4568446
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1986
Construction
WOOD
Total area
3,001 SF
Lot
0.26 ac (11,326 SF)
APN
11-08-51-012-129-6
UPID
US18-4568446
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
-
100% Chiropractic - Tallahassee Alternative Medicine Practice
-
Dr. William Bevis Alternative Medicine Practice
-
Dr. Ronald N. Cummings, DDS Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$585k
CAP Approach
CAP
$545k
Comparable Approach
Comparable
$685k
Blend (final)
Blend
$565k
Owner & transaction history
Bevis Family Chiropractic P A · 4 yrs held
Bevis Family Chiropractic P A
since 2022
Last sale
$567,500
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$845,000
+68.3%
Commercial (general)
$640,000
+27.3%
Retail stores
$640,000
+27.2%
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
$615,000
ML approach
$585,000
CAP Approach
CAP Return
Estimation
6%
$595,000
6.5%
$545,000
7%
$510,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$505,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$845,000
Change: +68% · Conversion: Difficult
COMMERCIAL (GENERAL)
$640,000
Change: +27% · Conversion: Easy
RETAIL STORES
$640,000
Change: +27% · Conversion: Difficult
OFFICE BUILDING
$505,000
Change: +1% · Conversion: Easy
Blend value · Realmo final
$565k
Range $509k – $622k · ±10% · vs last sale $568k (Jan 27 2022)
Last sale anchor
$568k
Jan 27 2022
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
$188 / 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
$11,591
Tax year 2023
Assessed value
$599,015
Assessed 2023
Previous assessed
$440,656
+35.9% YoY
Effective rate
1.94%
On assessed value
Assessed land
$110,200
Assessed improvement
$488,815
Land market value
$110,200
Improvement market value
$488,815
Total market value
$599,015
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1986
Construction
WOOD
Heating
YES
Cooling
YES
Buildings
1
Stories
1
Total area
3,001 SF
Lot
0.26 ac (11,326 SF)
APN
11-08-51-012-129-6
UPID
US18-4568446
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
MEDICAL BUILDING Current
Est. value
$505,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$845,000
COMMERCIAL (GENERAL)
Est. value
$640,000
RETAIL STORES
Est. value
$640,000
OFFICE BUILDING
Est. value
$505,000
MEDICAL BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
RETAIL STORES
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
1986
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Buildings
1
Lot
0.26 ac
Current owner
From public records · entity-resolved
Bevis Family Chiropractic P A
Individual
Mailing address
1950 THOMASVILLE RD E STE E, TALLAHASSEE, FL 32303-5262
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 27, 2022
$567,500
Bevis Family Chiropractic P A
Catulus & Pluvia Co LLC
Warranty Deed
$964,750 · Prime Meridian Bank
Dec 4, 2020
$450,000
Catulus & Pluvia Co LLC
Ronald Cummings
Warranty Deed
$382,500 · The First A National Banking Assn
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.
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