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Property profile & analytics
OFF-MARKET
Estimated value
$7,465,000
Medical Office Space
1803 Miccosukee Cmns Dr 101 Tallahassee, FL 32308-7403
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US18-3642959
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2002
Construction
FRAME
Total area
32,312 SF
Lot
2.96 ac (128,938 SF)
APN
11-21-20-464-000-0
UPID
US18-3642959
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
$8.50M
CAP Approach
CAP
$5.90M
Comparable Approach
Comparable
$5.02M
Blend (final)
Blend
$7.47M
Owner & transaction history
Gmr Tallahassee LLC · 5 yrs held
Gmr Tallahassee LLC
since 2021
Last sale
$9.0M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$9.1M
+68.3%
Restaurant
$8.1M
+49.8%
Industrial (general)
$7.6M
+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
$7,375,000
ML approach
$8,495,000
CAP Approach
CAP Return
Estimation
6%
$6,385,000
6.5%
$5,895,000
7%
$5,475,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$5,415,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$9,110,000
Change: +68% · Conversion: Difficult
RESTAURANT
$8,105,000
Change: +50% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$7,625,000
Change: +41% · Conversion: Difficult
COMMERCIAL (GENERAL)
$6,885,000
Change: +27% · Conversion: Easy
RETAIL STORES
$6,885,000
Change: +27% · Conversion: Difficult
OFFICE BUILDING
$5,330,000
Change: -2% · Conversion: Easy
Blend value · Realmo final
$7.47M
Range $6.72M – $8.21M · ±10% · vs last sale $9.00M (Jun 4 2021)
Last sale anchor
$9.00M
Jun 4 2021
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
$231 / 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
$75,429
Tax year 2023
Assessed value
$3,898,237
Assessed 2023
Previous assessed
$3,687,969
+5.7% YoY
Effective rate
1.93%
On assessed value
Assessed land
$612,456
Assessed improvement
$3,285,781
Land market value
$612,456
Improvement market value
$3,285,781
Total market value
$3,898,237
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
2002
Construction
FRAME
Heating
YES
Cooling
YES
Buildings
1
Stories
2
Total area
32,312 SF
Lot
2.96 ac (128,938 SF)
APN
11-21-20-464-000-0
UPID
US18-3642959
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
$5.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$9.1M
RESTAURANT
Est. value
$8.1M
INDUSTRIAL (GENERAL)
Est. value
$7.6M
COMMERCIAL (GENERAL)
Est. value
$6.9M
RETAIL STORES
Est. value
$6.9M
OFFICE BUILDING
Est. value
$5.3M
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
2002
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
2
Buildings
1
Lot
2.96 ac
Current owner
From public records · entity-resolved
Gmr Tallahassee LLC
Entity
Mailing address
7373 WISCONSIN AVE STE #800, BETHESDA, MD 20814-3767
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 4, 2021
$9,000,000
Gmr Tallahassee LLC
Realco Fl 001 LLC
Special Warranty Deed
—
Dec 30, 2019
—
Realco-fl 001 LLC
Gasco Real Estate Holdings LLC
Quit Claim Deed
—
Aug 30, 2013
$7,384,000
Gasco Real Estate Holdings LLC
Miccosukee Commons Inv LLC
Grant Deed
—
Feb 11, 2002
$911,800
Miccosukee Commons Investment
Bln Partnership
Grant Deed
$3,900,000 · Premier Bank
—
—
Miccosukee Commons Inv LLC
—
Deed Of Trust
related
$4,740,000 · Doral 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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