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    Property profile & analytics

    2009 Apalachee Pkwy Tallahassee, FL 32301-4867

    • Community centers
    • 3,961 SF
    • 1.58 lot acres
    OFF-MARKET
    Last Sale
    Jan 18, 2022
    $4,285,715
    Value Estimations
    $4,455,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4195136
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Panera Bread / Sandwich Shop / Soup Restaurant
    • Panera / Bakery

    Property Details for 2009 Apalachee Pkwy

    Year built
    2022
    Construction
    FRAME
    Lot size
    1.58 lot acres
    Property size
    3,961 SF
    Property type
    Community centers
    APN
    31-05-20-095-000-0
    APU
    3105200950000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,730,000
      ML approach
      $4,515,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Tallahassee
    County
    Leon
    State
    Florida
    Longitude
    -84.2456
    Latitude
    30.4302
    CBSA code
    45220
    CBSA name
    TALLAHASSEE, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $30,291
    $441,312
    $1,124,154
    $1,565,466
    -
    $441,312
    $1,124,154
    $1,565,466

    Comparable in this City

    • Value Estimation
      $745,000
      6,000 SF

      220 Magnolia Dr Ste, Unit 101

      MINI-MALL • 6,000 SF
      220 Magnolia Dr Ste, Tallahassee, FL 32301-2980
      View Details
    • Value Estimation
      $1,090,000
      12,450 SF

      1160 Capital SE Cir

      MINI-MALL • 12,450 SF
      1160 Capital SE Cir, Tallahassee, FL 32301-3832
      View Details
    • Value Estimation
      $7,525,000
      46,161 SF

      3551 Blair Stone Rd

      MINI-MALL • 46,161 SF
      3551 Blair Stone Rd, Tallahassee, FL 32301-8826
      View Details
    • Value Estimation by Request
      3,480 SF

      3562 Blair Stone Rd

      MINI-MALL • 3,480 SF
      3562 Blair Stone Rd, Tallahassee, FL 32301-6980
      View Details
    • Value Estimation
      $540,000
      3,954 SF

      2308 Apalachee Pkwy

      MINI-MALL • 3,954 SF
      2308 Apalachee Pkwy, Tallahassee, FL 32301-4922
      View Details
    • Value Estimation
      $805,000
      6,318 SF

      1231 Apalachee Pkwy

      MINI-MALL • 6,318 SF
      1231 Apalachee Pkwy, Tallahassee, FL 32301-4543
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      60,000 SF

      Towne South Shopping Center

      Shopping center built in 1981 with established tenants.
      2525 South Monroe St, Tallahassee, FL 32301
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    • Contact for pricing
      28,087 SF

      South Monroe Street Retail Center

      Retail center with multiple tenants on South Monroe Street.
      1327 S Monroe St, Tallahassee, FL 32301
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    • $1,606,800
      2,616 SF

      2870 Apalachee Pkwy

      Restaurants • 2,616 SF
      2870 Apalachee Pkwy, Tallahassee, FL 32301
      View Details
    • $2,338,000

      Retail and Warehouse Buildings ForSale

      Two buildings with retail, warehouse, and office space available.
      2809 S Adams St, Tallahassee, FL 32301
      View Details
    • $249,000
      1 SF

      Office/Retail Condo in Tallahassee

      Well-maintained 1,200 SF office/retail condo in a prime location.
      2901 Tallahassee Dr, Tallahassee, FL 32301
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    • Contact for pricing
      11,969 SF

      Apalachee Parkway Retail Opportunity

      Retail space for sale in high-traffic Tallahassee location.
      2727 Apalachee Pkwy, Tallahassee, FL 32301
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,533 SF

      Retail Space on Apalachee Parkway

      Retail spaces available in Tallahassee, Florida shopping center.
      1665-1779 Apalachee Pkwy, Tallahassee, FL 32301
      View Details
    • $3,000 /Mo
      12,450 SF

      Retail Center Across From Sam's

      Established retail center with high traffic and ample parking.
      1160-1174 Capital Cir SE, Tallahassee, FL 32301
      View Details
    • $20 SF/Yr
      10,305 SF

      Tallahassee Retail Space Available

      Prime retail space, 973-2,546 sq ft.
      1016 Magnolia Dr, Tallahassee, FL 32301
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space in Tallahassee Center

      Publix-anchored retail space serving southeast Tallahassee's growing residential communities.
      3551 Blair Stone Rd, Tallahassee, FL 32301
      View Details
    • $16 SF/Yr
      9,520 SF

      Crescent Park Retail Space Available

      Prime Retail Space, High Traffic Area
      720 Capital Cir, Tallahassee, FL 32301
      View Details
    • $12 SF/Yr
      10,000 SF

      Retail Plaza Anchored by Best Buy

      Retail space in a high-traffic plaza near downtown.
      1400 Apalachee Pkwy, Tallahassee, FL 32301
      View Details

    Property Visit Statistics

    • Visits by month
      23.3k
    • Visitors by month
      16.3k
    • Avg Time on site
      29 min
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    Tallahassee, FL 32301-4867
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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