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Property profile & analytics
OFF-MARKET
Estimated value
$810,000
Distribution centers
1505 Capital Cir Nwa, Tallahassee, FL 32303-3111
Entity Owned
19-yr Hold
~
Est. High Equity
Property ID
US18-2535829
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1973
Construction
FRAME
Total area
7,000 SF
Lot
4.96 ac (216,014 SF)
APN
21-20-51-014-101-0
UPID
US18-2535829
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
-
Keller Interiors General Contractor Renovation Specialist
-
Bonded Lightning Protection Systems Inc. General Contractor
-
Surreal Tinting LLC Interior Design Auto Repair Shop
-
Capital City Junk haulers Waste Management Facility
-
MobilityWorks Car Dealership
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$840k
Comparable Approach
Comparable
$625k
Blend (final)
Blend
$810k
Owner & transaction history
Capital Oak Coml Center LLC · 19 yrs held
Capital Oak Coml Center LLC
since 2007
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.3M
+85.7%
Restaurant
$1.2M
+82.6%
Medical building
$1.2M
+74.3%
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%
$910,000
6.5%
$840,000
7%
$780,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$675,000
Current use
COMMERCIAL (GENERAL)
$1,250,000
Change: +86% · Conversion: Difficult
RESTAURANT
$1,230,000
Change: +83% · Conversion: Difficult
MEDICAL BUILDING
$1,170,000
Change: +74% · Conversion: Difficult
OFFICE BUILDING
$1,155,000
Change: +71% · Conversion: Difficult
Blend value · Realmo final
$810k
Range $729k – $891k · ±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
$116 / 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
$43,094
Tax year 2023
Assessed value
$2,270,423
Assessed 2023
Previous assessed
$2,009,186
+13.0% YoY
Effective rate
1.90%
On assessed value
Assessed land
$646,422
Assessed improvement
$1,624,001
Land market value
$646,422
Improvement market value
$1,624,001
Total market value
$2,270,423
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1973
Construction
FRAME
Heating
YES
Cooling
YES
Buildings
5
Stories
1
Total area
7,000 SF
Lot
4.96 ac (216,014 SF)
APN
21-20-51-014-101-0
UPID
US18-2535829
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
WAREHOUSE, STORAGE Current
Est. value
$675,000
COMMERCIAL (GENERAL)
Est. value
$1.3M
RESTAURANT
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.2M
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
RESTAURANT
MEDICAL BUILDING
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
1973
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Buildings
5
Lot
4.96 ac
Current owner
From public records · entity-resolved
Capital Oak Coml Center LLC
Entity
Mailing address
PO BOX 930, TALLAHASSEE, FL 32302-0930
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 2, 2020
—
Capital Oaks Coml Ctr LLC
—
Deed
related
$1,411,855 · First
Jun 26, 2007
$1,472,100
Capital Oak Coml Center LLC
Meeks,jimmy & Tonia
Quit Claim Deed
related
—
Jan 3, 2003
$7,400
3m Construction INC
Meeks,jimmy W & Tonia L
Quit Claim Deed
related
$500,000 · Branch Banking & Trust Co
Aug 25, 1998
$500,000
Smith,lane P
Capitol Plaza INC
Trustees Deed
—
Aug 25, 1998
$620,000
Meeks,jimmy W & Tonia
Smith,lane P
Trustees Deed
$520,000 · Guaranty National Bank
—
—
Capital Oaks Coml Ctr LLC
—
Loan Modification
related
$1,411,855 · First
—
—
Capitol Oaks Coml Center LLC
—
Loan Modification
related
$1,494,034 · Sunshine Svgs Bk
—
—
Capital Oaks Coml Center LLC
—
Deed Of Trust
related
$1,661,897 · Hancock Bank
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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