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Property profile & analytics
OFF-MARKET
Estimated value
$530,000
Community centers
2580 Monroe St 1 Tallahassee, FL 32303-4053
Entity Owned
1-yr Hold
Free & Clear
Property ID
US18-3056964
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1976
Construction
WOOD
Total area
2,990 SF
Lot
0.6 ac (26,005 SF)
APN
21-23-20-002-000-0
UPID
US18-3056964
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
-
Firehouse Subs N. Monroe Take-out & Catering Catering Service
-
Little Caesars Pizza Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$525k
Comparable Approach
Comparable
$504k
Blend (final)
Blend
$530k
Owner & transaction history
Chen Property INC · 1 yrs held
Chen Property INC
since 2025
Last sale
$550,000
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$570,000
6.5%
$525,000
7%
$490,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$740,000
Current use
RETAIL STORES
$635,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$530k
Range $477k – $583k · ±10% · vs last sale $550k (Dec 5 2024)
Last sale anchor
$550k
Dec 5 2024
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
$177 / 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
$10,610
Tax year 2023
Assessed value
$548,346
Assessed 2023
Previous assessed
$580,682
-5.6% YoY
Effective rate
1.93%
On assessed value
Assessed land
$208,040
Assessed improvement
$340,306
Land market value
$208,040
Improvement market value
$340,306
Total market value
$548,346
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
Community centers
Use group
MINI-MALL
Status
Off-Market
Year built
1976
Construction
WOOD
Heating
YES
Cooling
YES
Buildings
1
Stories
1
Total area
2,990 SF
Lot
0.6 ac (26,005 SF)
APN
21-23-20-002-000-0
UPID
US18-3056964
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$740,000
RETAIL STORES
Est. value
$635,000
NEIGHBORHOOD: SHOPPING CENTER Current
RETAIL STORES
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
1976
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Buildings
1
Lot
0.6 ac
Current owner
From public records · entity-resolved
Chen Property INC
Entity
Free & Clear · 1 yrs held
Mailing address
535 JOHN KNOX RD, TALLAHASSEE, FL 32303-4117
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 5, 2025
$550,000
Chen Property INC
Todd A Patterson
Warranty Deed
—
Oct 18, 2019
—
Todd A Patterson
—
Deed
related
$357,337 · Synovus Bk
Aug 23, 2004
$490,000
Patterson,todd A & Rose M
Ching C Yang
Warranty Deed
$512,000 · Tallahassee St Bk
—
—
Todd A Patterson
—
Loan Modification
related
$357,337 · Synovus Bk
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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