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Property profile & analytics
FOR SALE
Hotels
1978 Village Green Way Tallahassee, FL 32308
Entity Owned
3-yr Hold
Free & Clear
Property ID
US18-0890433
For Sale
1 / 40
$12,400,000
1978 Village Green Way, Tallahassee, FL 32308
View Listing →
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1989
Construction
WOOD
Total area
52,768 SF
Lot
2.08 ac (90,605 SF)
APN
11-08-75- A-005-0
UPID
US18-0890433
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
-
MainStay Suites Hotel & Motel
-
Tallahassee Suites Hotel & Motel
-
Taco time Restaurant
-
TRYP by Wyndham Tallahassee North I-10 Capital Circle Hotel & Motel
-
elementary school High School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.81M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$10.64M
Owner & transaction history
Hotelar 2 LLC · 3 yrs held
Hotelar 2 LLC
since 2022
Last sale
$11.3M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$12.3M
+415.0%
Industrial (general)
$10.5M
+339.0%
Office building
$7.9M
+232.5%
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
$11,230,000
ML approach
$8,810,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$12,310,000
Change: +415% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$10,495,000
Change: +339% · Conversion: Difficult
OFFICE BUILDING
$7,945,000
Change: +232% · Conversion: Difficult
RESTAURANT
$6,890,000
Change: +188% · Conversion: Difficult
Blend value · Realmo final
$10.64M
Range $9.57M – $11.70M · ±10% · vs last sale $11.25M (Oct 25 2022)
Last sale anchor
$11.25M
Oct 25 2022
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
$202 / 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
$123,127
Tax year 2023
Assessed value
$6,363,335
Assessed 2023
Previous assessed
$2,020,895
+214.9% YoY
Effective rate
1.93%
On assessed value
Assessed land
$430,369
Assessed improvement
$5,932,966
Land market value
$430,369
Improvement market value
$5,932,966
Total market value
$6,363,335
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
Hotels
Use group
HOTEL
Status
For Sale
Year built
1989
Construction
WOOD
Heating
YES
Cooling
YES
Buildings
1
Stories
3
Units
100
Total area
52,768 SF
Lot
2.08 ac (90,605 SF)
APN
11-08-75- A-005-0
UPID
US18-0890433
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
COMMERCIAL (GENERAL)
Est. value
$12.3M
INDUSTRIAL (GENERAL)
Est. value
$10.5M
OFFICE BUILDING
Est. value
$7.9M
RESTAURANT
Est. value
$6.9M
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
OFFICE BUILDING
RESTAURANT
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
1989
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
3
Buildings
1
Units
100
Lot
2.08 ac
Current owner
From public records · entity-resolved
Hotelar 2 LLC
Entity
Free & Clear · 3 yrs held
Mailing address
1200 PONCE DE LEON BLVD STE #703, CORAL GABLES, FL 33134-3371
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 25, 2022
$11,250,000
Hotelar 2 LLC
Hdda Tall 2021 Cs Tallahassee LLC
Special Warranty Deed
—
Mar 1, 2021
$2,296,500
Hdda Tall 2021 Cs Tallahassee LLC
Akaal Tallahassee LLC
Special Warranty Deed
$3,700,000 · Access Point Financial LLC
Jan 7, 2020
$43,000
Akaal Tallahassee LLC
Asia Pacific Prop & Hotels INC
Quit Claim Deed
related
—
Apr 11, 2014
$2,500,000
Tallahassee Cap Hospitality Ll
Ameris Bk
Grant Deed
$1,960,000 · Access Pt Fin'l INC
Dec 22, 2011
$3,042,755
Ameris Bk
High Trust Bk
Grant Deed
related
—
Sep 21, 2010
$100
High Trust Bk
Capital Circle Hotel G Coc
Trustees Deed
related
—
Aug 8, 2008
—
Capital Circle Hotel Group LLC
—
Trustees Deed
related
$1,600,000 · High Trust Bank
Jun 4, 2007
—
Capital Circle Hotel Group LLC
—
Trustees Deed
related
$3,816,605 · Colonial Bank
Oct 4, 2005
$1,700,000
Capital Circle Hotel Group LLC
Meadows LLC
Grant Deed
$3,200,000 · Wakulla Bank
Sep 4, 2003
$1,200,000
The Meadows LLC
Liberty Assisted Living Center
Grant Deed
$960,000 · Peoples First Community Bank
—
—
Capital Circle Hotel Group LLC
—
Deed Of Trust
related
$343,000 · High Trust Bank
—
—
Capital Circle Hotel Group LLC
—
Deed Of Trust
related
$7,040,500 · High Trust 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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