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    2121 Capital NE Cir Tallahassee, FL 32308-4303
    Property profile & analytics

    2121 Capital NE Cir, Tallahassee, FL 32308-4303

    View on Map
    • Outlet malls
    • 110,183 SF
    • 10.16 lot acres
    Off-Market
    Property ID
    US18-3105588
    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.
    Value Estimations
    $9,100,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Installation Services / General Contractor
    • Lowe's Garden Center / Garden Center
    • Minute Key / Locksmith / (Bike/Boat/Book/etc) Store
    • Blue Rhino Propane Exchange / Propane Supplier
    • Primo Water Exchange / Big Box & Wholesale Store

    Property Details for 2121 Capital NE Cir

    Year built
    1993
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    10.16 lot acres
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    11-16-04-000-004-0
    APU
    1116040000040

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $6,331,000
      Market price range: $4.32M - $19.2M

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

    Location Insight

    • Map
    • Local Demand
    City
    Tallahassee
    County
    Leon
    State
    Florida
    Longitude
    -84.2349
    Latitude
    30.4811
    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
    $133,615
    $1,879,996
    $5,025,336
    $6,905,332
    -
    $1,879,996
    $5,025,336
    $6,905,332

    Comparable in this City

    • Value Estimation
      $7,350,000
      64,038 SF

      3240 Capital NE Cir

      WHOLESALE OUTLET, DISCOUNT STORE
      3240 Capital NE Cir, Tallahassee, FL 32308-3708
      View Details
    • Value Estimation
      $10,870,000
      95,180 SF

      6800 Mahan Dr

      WHOLESALE OUTLET, DISCOUNT STORE
      6800 Mahan Dr, Tallahassee, FL 32308-1402
      View Details
    • Value Estimation
      $1,245,000
      13,930 SF

      3350 Capital NE Cir

      WHOLESALE OUTLET, DISCOUNT STORE
      3350 Capital NE Cir, Tallahassee, FL 32308-3710
      View Details
    • Value Estimation
      $2,255,000
      8,241 SF

      3201 Capital NE Cir

      WHOLESALE OUTLET, DISCOUNT STORE
      3201 Capital NE Cir, Tallahassee, FL 32308-3707
      View Details
    • Value Estimation
      $4,450,000
      27,050 SF

      3220 Capital NE Cir

      WHOLESALE OUTLET, DISCOUNT STORE
      3220 Capital NE Cir, Tallahassee, FL 32308-3708
      View Details
    • Value Estimation
      $2,725,000
      30,450 SF

      3151 Capital NE Cir

      WHOLESALE OUTLET, DISCOUNT STORE
      3151 Capital NE Cir, Tallahassee, FL 32308-3705
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Retail Space on Capital Circle

      Retail space available in Tallahassee, Florida.
      1704 Capital Cir NE, Tallahassee, FL 32308
      View Details
    • Contact for pricing

      NE Tallahassee Office/Retail Spaces

      Two office/retail spaces available in a popular Tallahassee location.
      1891 Capital Cir NE, Tallahassee, FL 32308
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    • Contact for pricing

      Retail Space in Tallahassee Center

      Retail space with high visibility and traffic count available for sale.
      1519 Capital Cir NE, Tallahassee, FL 32308
      View Details
    • $695,000
      5,656 SF

      Tallahassee Commercial Investment Opportunity

      Four-unit commercial building near Capital Circle NE.
      2016 N Point Blvd, Tallahassee, FL 32308
      View Details
    • $5,500,000

      Prime Tallahassee Commercial Parkway Property

      High-visibility 10,861 SF building on 2.14 acres near I-10.
      3355 Capital Cir NE, Tallahassee, FL 32308
      View Details
    • Contact for pricing
      18,774 SF

      Luxury Apartments with Retail Spaces

      Class A mixed-use property with high occupancy and income potential.
      3554 Austin Davis Ave, Tallahassee, FL 32308
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,325 SF

      Retail Space in Tallahassee Center

      Retail space available in a busy, anchored shopping center.
      6615 Mahan Dr, Tallahassee, FL 32308
      View Details
    • Contact for pricing

      Home Depot Plaza Retail Space

      Retail space in high-traffic Tallahassee shopping center.
      3240 Capital Cir Northeast, Tallahassee, FL 32308
      View Details
    • Contact for pricing
      3,653 SF

      Retail Space on Mahan Drive

      Retail space with high traffic and prime location.
      1350 Mahan Dr, Tallahassee, FL 32308
      View Details
    • Contact for pricing

      Retail Space Ready For Tenant

      Vanilla shell retail space with high visibility and traffic.
      1989 Capital Cir Northeast, Tallahassee, FL 32308
      View Details
    • Contact for pricing
      1,790 SF

      East Side Commercial Office/Retail Space

      New office/retail space ready for tenant build-out on Mahan Drive.
      2459 Mahan Dr, Tallahassee, FL 32308
      View Details
    • Contact for pricing
      1,750 SF

      Retail Space on Capital Circle

      Retail space available for rent on Capital Circle N.E.
      1706 Capital Cir NE, Tallahassee, FL 32308
      View Details

    Property Visit Statistics

    • Visits by month
      78.0k
    • Visitors by month
      50.9k
    • Avg Time on site
      23 min
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    Tallahassee, FL 32308-4303
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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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