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Property profile & analytics
OFF-MARKET
Estimated value
$3,125,000
Medical Office Space
2535 Capital Medical Blvd Tallahassee, FL 32308-4423
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US18-0867495
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1993
Construction
FRAME
Total area
11,842 SF
Lot
1.42 ac (61,855 SF)
APN
11-21-05- E-002-2
UPID
US18-0867495
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
-
Palmer Eye Center Ophthalmologist
-
Anesthesiology Associates Medical Clinic
-
Dr. Amanda Matthews Ophthalmologist
-
Dr. Richard Palmer Ophthalmologist
-
Whitney Whitfield Ophthalmologist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.21M
CAP Approach
CAP
$2.16M
Comparable Approach
Comparable
$1.88M
Blend (final)
Blend
$3.13M
Owner & transaction history
Mrd Properties Of Tallahassee LLC · 3 yrs held
Mrd Properties Of Tallahassee LLC
since 2022
Last sale
$3.1M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$3.3M
+68.3%
Restaurant
$3.0M
+49.8%
Industrial (general)
$2.8M
+40.9%
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
$3,090,000
ML approach
$3,210,000
CAP Approach
CAP Return
Estimation
6%
$2,340,000
6.5%
$2,160,000
7%
$2,005,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,985,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$3,340,000
Change: +68% · Conversion: Difficult
RESTAURANT
$2,970,000
Change: +50% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,795,000
Change: +41% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,525,000
Change: +27% · Conversion: Easy
RETAIL STORES
$2,520,000
Change: +27% · Conversion: Difficult
OFFICE BUILDING
$1,955,000
Change: -2% · Conversion: Easy
Blend value · Realmo final
$3.13M
Range $2.81M – $3.44M · ±10% · vs last sale $3.10M (Dec 29 2022)
Last sale anchor
$3.10M
Dec 29 2022
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
$264 / 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
$28,214
Tax year 2023
Assessed value
$1,458,146
Assessed 2023
Previous assessed
$1,396,032
+4.4% YoY
Effective rate
1.93%
On assessed value
Assessed land
$448,449
Assessed improvement
$1,009,697
Land market value
$448,449
Improvement market value
$1,009,697
Total market value
$1,458,146
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
1993
Construction
FRAME
Heating
YES
Cooling
YES
Buildings
1
Stories
1
Total area
11,842 SF
Lot
1.42 ac (61,855 SF)
APN
11-21-05- E-002-2
UPID
US18-0867495
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
$2.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.3M
RESTAURANT
Est. value
$3.0M
INDUSTRIAL (GENERAL)
Est. value
$2.8M
COMMERCIAL (GENERAL)
Est. value
$2.5M
RETAIL STORES
Est. value
$2.5M
OFFICE BUILDING
Est. value
$2.0M
MEDICAL BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
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
1993
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Buildings
1
Lot
1.42 ac
Current owner
From public records · entity-resolved
Mrd Properties Of Tallahassee LLC
Entity
Mailing address
2535 CAPITAL MEDICAL BLVD, TALLAHASSEE, FL 32308-4423
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 29, 2022
$3,095,100
Mrd Properties Of Tallahassee LLC
E O A Properties L L C
Warranty Deed
$1,000,000 · Thomasville National Bank
Apr 4, 2002
$1,325,000
Eoa Properties LLC
Garland,paul E & Laura R
Grant Deed
$1,060,000 · Wachovia Bank NA
—
—
Paul E Garland
—
Deed Of Trust
related
$500,000 · American Bank & Trust
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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