2020 Apalachee Pkwy Tallahassee, FL 32301
- Hotels
- 41,650 SF
- 2.73 lot acres
Current Use by Public Records
- Quality Inn & Suites / Hotel / Lodge
Property Details for 2020 Apalachee Pkwy
- Year built
- 1985
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 2.73 lot acres
- Property size
- 41,650 SF
- Property type
- Hotels
- APN
- 31-05-20-002-000-0
- APU
- 3105200020000
Description
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.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,800,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $3,100,000
- 6.5%
- $2,830,000
- 7%
- $2,770,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,920,000
- Geo Method
- $2,715,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,500,000
- Retail
- $3,275,000
- Mixed-Use
- $2,650,000
- Hospitality
- $3,165,000
- Educational
- $3,350,000
- Residential Income
- $2,560,000
- Energy
- $3,255,000
- Income-Based Land
- $2,510,000
- Food Service
- $2,785,000
Location Insight
- Map
- Local Demand
- City
- Tallahassee
- County
- Leon
- State
- Florida
- Longitude
- -84.2465
- Latitude
- 30.4317
- CBSA code
- 45220
- CBSA name
- TALLAHASSEE, FL METROPOLITAN STATISTICAL AREA
