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Property profile & analytics
OFF-MARKET
Estimated value
$755,000
Medical Office Space
1474 Market St Tallahassee, FL 32312-1768
Entity Owned
9-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-3469337
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,000 SF
Lot
0.47 ac (20,299 SF)
APN
11-08-51-008-082-0
UPID
US18-3469337
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
-
Crossville Tile & Stone General Contractor Renovation Specialist
-
Dr. Ira Freilich Physician Medical Clinic
-
Aqua Medical Spa - Tallahassee Spa & Massage Center Alternative Medicine Practice
-
Dermatology Specialists of Florida Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$910k
Comparable Approach
Comparable
$601k
Blend (final)
Blend
$755k
Owner & transaction history
Jmd 2000 LLC · 9 yrs held
Jmd 2000 LLC
since 2017
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.3M
+49.8%
Industrial (general)
$1.2M
+40.9%
Commercial (general)
$1.1M
+27.3%
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%
$990,000
6.5%
$910,000
7%
$845,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$835,000
Current use
RESTAURANT
$1,255,000
Change: +50% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,180,000
Change: +41% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,065,000
Change: +27% · Conversion: Easy
RETAIL STORES
$1,065,000
Change: +27% · Conversion: Difficult
OFFICE BUILDING
$845,000
Change: +1% · Conversion: Easy
Blend value · Realmo final
$755k
Range $680k – $831k · ±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
$17,234
Tax year 2023
Assessed value
$911,483
Assessed 2023
Previous assessed
$856,848
+6.4% YoY
Effective rate
1.89%
On assessed value
Assessed land
$147,168
Assessed improvement
$764,315
Land market value
$147,168
Improvement market value
$764,315
Total market value
$911,483
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
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Buildings
1
Stories
1
Total area
5,000 SF
Lot
0.47 ac (20,299 SF)
APN
11-08-51-008-082-0
UPID
US18-3469337
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
$835,000
RESTAURANT
Est. value
$1.3M
INDUSTRIAL (GENERAL)
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.1M
RETAIL STORES
Est. value
$1.1M
OFFICE BUILDING
Est. value
$845,000
MEDICAL BUILDING Current
RESTAURANT
INDUSTRIAL (GENERAL)
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
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Buildings
1
Lot
0.47 ac
Current owner
From public records · entity-resolved
Jmd 2000 LLC
Entity
Mailing address
8450 RIVIERA AVE, FORT MYERS, FL 33919-1656
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
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
Jul 19, 2017
$1,850,000
Jmd 2000 LLC
Market St Inv
Warranty Deed
$1,000,000 · Hancock Bk
Apr 15, 2016
$767,500
Market Street Investors LLC
Wills,robert L JR & Jane B
Warranty Deed
—
—
—
Robert L Wills
—
Deed Of Trust
related
$215,167 · First National Bank
—
—
Robert L Wills
—
Deed Of Trust
related
$15,000 · Southtrust Bank NA
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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