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Property profile & analytics
OFF-MARKET
Estimated value
$6,035,000
Theaters & concert halls
1523 Tharpe St Tallahassee, FL 32303-4543
Entity Owned
~
Est. High Equity
Property ID
US18-2733985
Property profile
Verified
Property type
Theaters & concert halls
Use group
THEATER (MOVIE)
Year built
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
51,193 SF
Lot
8 ac (348,480 SF)
APN
21-27-20-203-001-0
UPID
US18-2733985
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.04M
Owner & transaction history
Svc 2026 Abs LLC
Svc 2026 Abs LLC
since 2026
Last sale
$8.4M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$3,705,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$7,215,000
Change: 0% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$6,780,000
Change: 0% · Conversion: Difficult
RESTAURANT
$4,990,000
Change: 0% · Conversion: Difficult
MEDICAL BUILDING
$4,545,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$4,105,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$6.04M
Range $5.43M – $6.64M · ±10% · vs last sale $8.43M (Mar 10 2025)
Last sale anchor
$8.43M
Mar 10 2025
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
$118 / 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
$62,028
Tax year 2023
Assessed value
$3,481,945
Assessed 2023
Previous assessed
$2,815,434
+23.7% YoY
Effective rate
1.78%
On assessed value
Assessed land
$1,097,712
Assessed improvement
$2,384,233
Land market value
$1,097,712
Improvement market value
$2,384,233
Total market value
$3,481,945
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
Theaters & concert halls
Use group
THEATER (MOVIE)
Status
Off-Market
Year built
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Buildings
1
Stories
1
Total area
51,193 SF
Lot
8 ac (348,480 SF)
APN
21-27-20-203-001-0
UPID
US18-2733985
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
OFFICE BUILDING
Est. value
$7.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.8M
RESTAURANT
Est. value
$5.0M
MEDICAL BUILDING
Est. value
$4.5M
RETAIL STORES
Est. value
$4.1M
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
MEDICAL BUILDING
RETAIL STORES
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
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Buildings
1
Lot
8 ac
Current owner
From public records · entity-resolved
Svc 2026 Abs LLC
Entity
Mailing address
902 CARNEGIE CTR STE #250, PRINCETON, NJ 08540-6530
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 16, 2026
—
Svc 2026 Abs LLC
Svcn 1 LLC
Special Warranty Deed
$139,432,750 · Citibank NA
Jun 10, 2025
$8,431,000
Svcn 1 LLC
Scf Rc Funding IV LLC
Special Warranty Deed
—
Sep 3, 2021
$3,200,000
Scf Rc Funding IV LLC
Bh Tally LLC
Special Warranty Deed
—
Oct 31, 2019
$1,800,000
Bh Tally LLC
Said Shehata
Grant Deed
—
Nov 24, 2015
$5,547,800
Said Shehata
West Tharpe 1716 LLC
Grant Deed
$3,606,049 · State Bk&tr
Dec 6, 2013
$5,200,000
West Tharpe 1716 LLC
Winn-dixie Properties LLC
Grant Deed
—
Nov 1, 2006
—
Winn-dixie Properties LLC
Owner Name Unavailable
Warranty Deed
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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