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Property profile & analytics
OFF-MARKET
Estimated value
$1,355,000
Medical Office Space
1607 Physicians Dr Tallahassee, FL 32308-4620
Individually Owned
6-yr Hold
~
Est. High Equity
Property ID
US18-8255608
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1990
Construction
WOOD
Total area
5,712 SF
Lot
0.45 ac (19,602 SF)
APN
11-29-20-210-002-0
UPID
US18-8255608
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
-
DaVita Tallahassee Dialysis Medical Clinic
-
TMH Parking Lot C Parking Lot & Garage
-
Gambro Healthcare-Tallahassee Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.54M
CAP Approach
CAP
$1.04M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.36M
Owner & transaction history
Yim Tea · 6 yrs held
Yim Tea
since 2020
Last sale
$1.5M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.6M
+68.3%
Restaurant
$1.4M
+49.8%
Industrial (general)
$1.4M
+40.9%
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
$1,865,000
ML approach
$1,535,000
CAP Approach
CAP Return
Estimation
6%
$1,130,000
6.5%
$1,040,000
7%
$970,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$955,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,610,000
Change: +68% · Conversion: Difficult
RESTAURANT
$1,435,000
Change: +50% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,350,000
Change: +41% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,220,000
Change: +27% · Conversion: Easy
RETAIL STORES
$1,215,000
Change: +27% · Conversion: Difficult
OFFICE BUILDING
$940,000
Change: -2% · Conversion: Easy
Blend value · Realmo final
$1.36M
Range $1.22M – $1.49M · ±10% · vs last sale $1.45M (Feb 28 2020)
Last sale anchor
$1.45M
Feb 28 2020
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
$237 / 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
$11,597
Tax year 2023
Assessed value
$600,129
Assessed 2023
Previous assessed
$577,583
+3.9% YoY
Effective rate
1.93%
On assessed value
Assessed land
$135,257
Assessed improvement
$464,872
Land market value
$135,257
Improvement market value
$464,872
Total market value
$600,129
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
1990
Construction
WOOD
Heating
YES
Cooling
YES
Buildings
1
Stories
1
Total area
5,712 SF
Lot
0.45 ac (19,602 SF)
APN
11-29-20-210-002-0
UPID
US18-8255608
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
$955,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.6M
RESTAURANT
Est. value
$1.4M
INDUSTRIAL (GENERAL)
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.2M
RETAIL STORES
Est. value
$1.2M
OFFICE BUILDING
Est. value
$940,000
MEDICAL BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
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
1990
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Buildings
1
Lot
0.45 ac
Current owner
From public records · entity-resolved
Yim Tea
Individual
Mailing address
4460 RED DEER TRL, BROOMFIELD, CO 80020-8117
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 28, 2020
$1,453,523
Yim Tea
Applegate-hansen Bldg Ptshp
Warranty Deed
$820,000 · Eastman Cu
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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