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    2424 Allen Rd Tallahassee, FL 32312-2603
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    2424 Allen Rd Tallahassee, FL 32312-2603

    View on Map
    • Community centers
    • 9,430 SF
    • 0.67 lot acres
    Off-Market
    Property ID
    US18-1163018
    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
    $815,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Scalp Clinique Micro / Hair Salon
    • Kim's Studio / Medical Clinic / Skin Care Clinic
    • North Florida Cosmetology Institute / Vocational School / Training Center

    Property Details for 2424 Allen Rd

    Year built
    1981
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.67 lot acres
    Property size
    9,430 SF
    Property type
    Community centers
    Property subtype
    Shopping centers
    APN
    21-23-20-025-000-0
    APU
    2123200250000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,015,000
      Market price range: $936k - $4.95M

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

    Location Insight

    • Map
    • Local Demand
    City
    Tallahassee
    County
    Leon
    State
    Florida
    Longitude
    -84.2946
    Latitude
    30.4771
    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
    $9,407
    $37,770
    $474,326
    $512,096
    -
    $37,770
    $474,326
    $512,096

    Comparable in this City

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      26,582 SF

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    • Value Estimation by Request
      81,082 SF

      1415 Timberlane Rd

      Lifestyle centers • 81,082 SF
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    • Value Estimation by Request
      3,098 SF

      3451 Bannerman Rd

      MINI-MALL • 3,098 SF
      3451 Bannerman Rd, Tallahassee, FL 32312-7005
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    • Value Estimation
      $1,415,000
      11,160 SF

      2887 Kerry Frst Pkwy, Unit 1

      MINI-MALL • 11,160 SF
      2887 Kerry Frst Pkwy, Tallahassee, FL 32312-4864
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    • Value Estimation
      $3,475,000
      26,582 SF

      6267 Old Water Oak Rd Ste, Unit 101

      MINI-MALL • 26,582 SF
      6267 Old Water Oak Rd Ste, Tallahassee, FL 32312-3858
      View Details
    • Value Estimation
      $7,240,000
      46,077 SF

      6668 Thomasville Rd

      MINI-MALL • 46,077 SF
      6668 Thomasville Rd, Tallahassee, FL 32312-4878
      View Details

    Similar Nearby for Sale

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      4,080 SF

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    • $1,473,150
      4,209 SF

      Turnkey Restaurant, Thomasville Road

      Established Restaurant, High-Traffic Location
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      Thomasville Road Parcels in Bradfordville

      Seven parcels available in a mixed-use development near Lawton Chiles High School.
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      2,550 SF

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      Commercial building fronting a new municipal park for sale.
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    • $225,000
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      Updated Property in Gated Community

      Turnkey property in gated community with resort-style amenities and AAA schools.
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    • New
      $129,999
      Pending

      Residential Land in Tallahassee, FL

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    Similar Nearby for Lease

    • Contact for pricing
      8,600 SF

      REI-Anchored Shopping Center For Rent

      Shopping center with regional and national tenants in Tallahassee, Florida.
      1415 Timberlane Rd, Tallahassee, FL 32312
      View Details
    • Contact for pricing
      6,883 SF

      REI-Anchored Shopping Center Space

      Retail space available in Tallahassee's Market Street District.
      1415 Market St, Tallahassee, FL 32312
      View Details
    • Contact for pricing
      906 SF

      Retail Space in Tallahassee MSA

      Retail space available in a high-traffic Tallahassee location.
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      View Details
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      Retail Development at Ox Bottom Rd

      Retail pads available for ground lease or build-to-suit.
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      1,800 SF

      Retail Space on Thomasville Road

      Retail space with high visibility and accessibility near I-10.
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    • Contact for pricing

      Medical Office Space Available

      Turn-key medical office space for lease.
      3606 Maclay Blvd S, Tallahassee, FL 32312
      View Details
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    2424 Allen Rd
    Tallahassee, FL 32312-2603
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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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