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Property profile & analytics
OFF-MARKET
Estimated value
$505,000
Medical Office Space
2039 Monroe St Tallahassee, FL 32303-4727
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US18-9669780
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1986
Construction
FRAME
Total area
3,240 SF
Lot
0.29 ac (12,632 SF)
APN
21-24-30- C-007-0
UPID
US18-9669780
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
-
Antiques and More Home Decor Store (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$485k
CAP Approach
CAP
$590k
Comparable Approach
Comparable
$532k
Blend (final)
Blend
$505k
Owner & transaction history
Huy Cao Pham · 3 yrs held
Huy Cao Pham
since 2023
Last sale
$500,000
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$805,000
+47.9%
Retail stores
$690,000
+27.2%
Commercial (general)
$580,000
+6.5%
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
$390,000
ML approach
$485,000
CAP Approach
CAP Return
Estimation
6%
$640,000
6.5%
$590,000
7%
$550,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$545,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$805,000
Change: +48% · Conversion: Difficult
RETAIL STORES
$690,000
Change: +27% · Conversion: Difficult
COMMERCIAL (GENERAL)
$580,000
Change: +7% · Conversion: Easy
OFFICE BUILDING
$535,000
Change: -2% · Conversion: Easy
Blend value · Realmo final
$505k
Range $455k – $556k · ±10% · vs last sale $500k (May 23 2023)
Last sale anchor
$500k
May 23 2023
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
$156 / 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
$8,098
Tax year 2023
Assessed value
$428,102
Assessed 2023
Previous assessed
$398,927
+7.3% YoY
Effective rate
1.89%
On assessed value
Assessed land
$96,000
Assessed improvement
$332,102
Land market value
$96,000
Improvement market value
$332,102
Total market value
$428,102
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
1986
Construction
FRAME
Heating
YES
Cooling
YES
Buildings
1
Stories
1
Total area
3,240 SF
Lot
0.29 ac (12,632 SF)
APN
21-24-30- C-007-0
UPID
US18-9669780
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
$545,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$805,000
RETAIL STORES
Est. value
$690,000
COMMERCIAL (GENERAL)
Est. value
$580,000
OFFICE BUILDING
Est. value
$535,000
MEDICAL BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
COMMERCIAL (GENERAL)
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
1986
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Buildings
1
Lot
0.29 ac
Current owner
From public records · entity-resolved
Huy Cao Pham
Individual
Mailing address
1854 THOMASVILLE RD, TALLAHASSEE, FL 32303-5710
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 23, 2023
$500,000
Huy Cao Pham
Willie L Gutsch
Warranty Deed
$700,000 · Capital City 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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