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Property profile & analytics
FOR LEASE
Hotels

2020 Apalachee Pkwy Tallahassee, FL 32301

41,650 SF 2.73 ac lot Built 1985
Entity Owned 1-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US18-5449239
Property summary
AI-generated overview

This exceptional multi-tenant retail development in Tallahassee, Florida, offers 15,000 square feet of prime commercial space on a 2.73-acre lot. Located at 2020 Apalachee Parkway, this property boasts over 365 feet of frontage, ensuring high visibility and accessibility for businesses. The site benefits from exceptional daily traffic counts exceeding 35,000 vehicles on Apalachee Parkway, placing it in a high-demand commercial corridor. Its strategic location directly across from a top-performing Target store, which attracts over 1.7 million annual visitors, and less than half a mile from Governor's Square Mall (2.8 million annual visitors), guarantees a substantial customer base. The property is ideal for a variety of retail, restaurant, and service businesses, with spaces available ranging from 1,200 square feet to the entire 15,000 square feet. The presence of numerous hotels in the immediate vicinity further enhances the potential for attracting out-of-town customers. This development presents a unique opportunity to establish a thriving business in a high-traffic, high-visibility location within a thriving commercial area of Tallahassee, Leon County, Florida (zip code 32301). The property is zoned for retail and restaurant uses, and offers drive-thru capabilities. Minimum leasable space is 1,200 square feet.

Property profile
Verified
Property type Hotels
Use group HOTEL
Year built 1985
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 41,650 SF
Lot 2.73 ac (118,919 SF)
APN 31-05-20-002-000-0
UPID US18-5449239
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
  • Quality Inn & Suites Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$2.80M
CAP Approach CAP
$2.74M
Comparable Approach Comparable
by Request
Blend (final) Blend
$2.80M
Owner & transaction history
Driven Brands INC · 1 yrs held
Driven Brands INC
since 2024
Last sale
$2.8M
7 recorded transactions
2024
$2.8M
2023
$3.2M
2021
$1.3M
2020
Price N/A
2017
$4.7M
2016
$3.4M
1969
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant $3.8M +232.5%
Medical building $3.7M +225.0%
Neighborhood: shopping center $3.5M +205.1%
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