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Property profile & analytics
OFF-MARKET
Estimated value
$8,370,000
Medical Office Space
1600 Phillips Rd Tallahassee, FL 32308-5304
Entity Owned
23-yr Hold
Free & Clear
Property ID
US18-4425246
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2004
Construction
FRAME
Total area
53,170 SF
Lot
10.87 ac (473,497 SF)
APN
11-28-20-201-000-0
UPID
US18-4425246
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
-
Dr. Charles D. Williams, MD Physician Medical Clinic
-
Carr Stephen L MD Physician Medical Clinic
-
Killius James S MD Physician Medical Clinic
-
Dr. Maribel U. Lockwood, MD Physician Medical Clinic
-
Dr. Michael D. Pentaleri, MD Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$9.70M
Comparable Approach
Comparable
$10.08M
Blend (final)
Blend
$8.37M
Owner & transaction history
ROAD VENTURE PHILLIPS
ROAD VENTURE PHILLIPS
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$13.3M
+49.8%
Industrial (general)
$12.5M
+40.9%
Commercial (general)
$11.3M
+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%
$10,510,000
6.5%
$9,700,000
7%
$9,005,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$8,905,000
Current use
RESTAURANT
$13,340,000
Change: +50% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$12,545,000
Change: +41% · Conversion: Difficult
COMMERCIAL (GENERAL)
$11,335,000
Change: +27% · Conversion: Easy
RETAIL STORES
$11,325,000
Change: +27% · Conversion: Difficult
OFFICE BUILDING
$8,765,000
Change: -2% · Conversion: Easy
Blend value · Realmo final
$8.37M
Range $7.53M – $9.21M · ±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
$157 / 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
$141,840
Tax year 2023
Assessed value
$7,828,056
Assessed 2023
Previous assessed
$7,828,056
+0.0% YoY
Effective rate
1.81%
On assessed value
Assessed land
$1,202,878
Assessed improvement
$6,625,178
Land market value
$1,202,878
Improvement market value
$6,625,178
Total market value
$7,828,056
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
2004
Construction
FRAME
Heating
YES
Cooling
YES
Buildings
1
Stories
3
Total area
53,170 SF
Lot
10.87 ac (473,497 SF)
APN
11-28-20-201-000-0
UPID
US18-4425246
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
$8.9M
RESTAURANT
Est. value
$13.3M
INDUSTRIAL (GENERAL)
Est. value
$12.5M
COMMERCIAL (GENERAL)
Est. value
$11.3M
RETAIL STORES
Est. value
$11.3M
OFFICE BUILDING
Est. value
$8.8M
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
2004
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
3
Buildings
1
Lot
10.87 ac
Current owner
From public records · entity-resolved
ROAD VENTURE PHILLIPS
Individual
Free & Clear · 0 yrs held
Mailing address
1600 PHILLIPS RD, TALLAHASSEE, FL 32308-5304
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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