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Property profile & analytics
OFF-MARKET
Estimated value
$800,000
Medical Office Space
2326 Centerville Rd Tallahassee, FL 32308-4318
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US19-0504882
Property summary
AI-generated overview
This exceptional 5,736 square foot Class B office building, constructed in 1989, is situated at 2326 Centerville Road in Tallahassee, Florida, zip code 32308. Currently, 5,025 square feet of space is available for lease within this multi-tenant property. The building boasts a desirable location within the Medical submarket, zoned CM. The available space features a newly renovated interior, including a large conference room, a convenient kitchenette, and numerous private offices, ideal for a variety of business needs. The property's total square footage is 5,736 square feet. Detailed floor plans and further information are available via the provided marketing brochure link. This is a fantastic opportunity to secure well-appointed office space in a thriving Tallahassee location. The property is categorized as a Traditional Office building. Interested parties should inquire promptly to secure this exceptional space.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1989
Construction
WOOD
Total area
5,192 SF
Lot
0.56 ac (24,437 SF)
APN
11-21-20-224-000-0
UPID
US19-0504882
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$925k
CAP Approach
CAP
$945k
Comparable Approach
Comparable
$687k
Blend (final)
Blend
$800k
Owner & transaction history
2324 Centerville Road LLC · 4 yrs held
2324 Centerville Road LLC
since 2021
Last sale
$800,000
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.3M
+49.8%
Industrial (general)
$1.2M
+40.9%
Commercial (general)
$1.1M
+27.3%
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
$655,000
ML approach
$925,000
CAP Approach
CAP Return
Estimation
6%
$1,025,000
6.5%
$945,000
7%
$880,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$870,000
Current use
RESTAURANT
$1,305,000
Change: +50% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,225,000
Change: +41% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,105,000
Change: +27% · Conversion: Easy
RETAIL STORES
$1,105,000
Change: +27% · Conversion: Difficult
OFFICE BUILDING
$855,000
Change: -2% · Conversion: Easy
Blend value · Realmo final
$800k
Range $720k – $880k · ±10% · vs last sale $800k (Dec 23 2021)
Last sale anchor
$800k
Dec 23 2021
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
$154 / 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
$10,323
Tax year 2023
Assessed value
$533,526
Assessed 2023
Previous assessed
$503,174
+6.0% YoY
Effective rate
1.93%
On assessed value
Assessed land
$164,950
Assessed improvement
$368,576
Land market value
$164,950
Improvement market value
$368,576
Total market value
$533,526
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
1989
Construction
WOOD
Heating
YES
Cooling
YES
Buildings
1
Stories
1
Total area
5,192 SF
Lot
0.56 ac (24,437 SF)
APN
11-21-20-224-000-0
UPID
US19-0504882
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
$870,000
RESTAURANT
Est. value
$1.3M
INDUSTRIAL (GENERAL)
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.1M
RETAIL STORES
Est. value
$1.1M
OFFICE BUILDING
Est. value
$855,000
MEDICAL BUILDING Current
RESTAURANT
INDUSTRIAL (GENERAL)
COMMERCIAL (GENERAL)
RETAIL STORES
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
1989
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Buildings
1
Lot
0.56 ac
Current owner
From public records · entity-resolved
2324 Centerville Road LLC
Entity
Mailing address
2324 CENTERVILLE RD, TALLAHASSEE, FL 32308-4318
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 23, 2021
$800,000
2324 Centerville Road LLC
Call Street Property LLC
Warranty Deed
$680,000 · First Commerce Cu
Sep 29, 2006
$600,000
Call Street Property LLC
Centerstone Partnership
Warranty Deed
$225,000 · Suntrust 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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