New search
Property profile & analytics
OFF-MARKET
Estimated value
$605,000
Retail space
1407 Mahan Dr Tallahassee, FL 32308-5109
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US18-3016434
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1989
Construction
FRAME
Total area
3,967 SF
Lot
0.34 ac (14,636 SF)
APN
11-32-20-252-000-0
UPID
US18-3016434
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
-
Smile in Style Events Photography Service Party Supply Store
-
Epic Print Concepts (Bike/Boat/Book/etc) Store Printing Service
-
Scott Flowers for Leon County Commissioner, At-Large Group 1 Advocacy Group Volunteer Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$570k
CAP Approach
CAP
$595k
Comparable Approach
Comparable
$700k
Blend (final)
Blend
$605k
Owner & transaction history
Jims Piano Service LLC · 1 yrs held
Jims Piano Service LLC
since 2024
Last sale
$625,000
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$845,000
+0.1%
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
$450,000
ML approach
$570,000
CAP Approach
CAP Return
Estimation
6%
$640,000
6.5%
$595,000
7%
$550,000
Alternative Use
Use
Estimation
RETAIL STORES
$845,000
Current use
COMMERCIAL (GENERAL)
$845,000
Change: +0% · Conversion: Easy
Blend value · Realmo final
$605k
Range $545k – $666k · ±10% · vs last sale $625k (May 13 2024)
Last sale anchor
$625k
May 13 2024
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
$153 / 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
$8,054
Tax year 2023
Assessed value
$416,229
Assessed 2023
Previous assessed
$403,395
+3.2% YoY
Effective rate
1.93%
On assessed value
Assessed land
$84,157
Assessed improvement
$332,072
Land market value
$84,157
Improvement market value
$332,072
Total market value
$416,229
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
1989
Construction
FRAME
Heating
YES
Cooling
YES
Buildings
1
Stories
1
Total area
3,967 SF
Lot
0.34 ac (14,636 SF)
APN
11-32-20-252-000-0
UPID
US18-3016434
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
$845,000
COMMERCIAL (GENERAL)
Est. value
$845,000
RETAIL STORES Current
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
1989
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Buildings
1
Lot
0.34 ac
Current owner
From public records · entity-resolved
Jims Piano Service LLC
Entity
Mailing address
1712 BELVEDERE ST, TALLAHASSEE, FL 32308-5205
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
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
Aug 13, 2024
$625,000
Jims Piano Service LLC
1407 Mahan Drive LLC
Warranty Deed
$321,600 · First Commerce Cu
May 12, 2021
$550,000
1407 Mahan Drive LLC
Flowers Investment Group INC
Warranty Deed
$467,500 · The First A National Banking Assn
Feb 19, 2019
$455,000
Flowers Investment Group INC
George Schumacher
Warranty Deed
$773,500 · Prime Meridian Bank
Jun 23, 2017
—
George Schumacher
—
Trustees Deed
related
$150,000 · World Busn Lenders
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1407 Mahan Dr?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
