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Property profile & analytics
FOR SALE
Motels
2681 North Monroe St Tallahassee, FL 32303
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US18-2929980
For Sale
1 / 11
$3,200,000
2681 North Monroe St, Tallahassee, FL 32303
View Listing →
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
17,916 SF
Lot
1.92 ac (83,635 SF)
APN
21-23-20-032-000-0
UPID
US18-2929980
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
-
Econo Lodge North Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.18M
Comparable Approach
Comparable
$1.12M
Blend (final)
Blend
$1.15M
Owner & transaction history
Rudrah LLC · 11 yrs held
Rudrah LLC
since 2015
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.7M
+63.6%
Medical building
$1.6M
+49.1%
Retail stores
$1.4M
+34.7%
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%
$1,275,000
6.5%
$1,180,000
7%
$1,095,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$1,065,000
Current use
RESTAURANT
$1,745,000
Change: +64% · Conversion: Difficult
MEDICAL BUILDING
$1,590,000
Change: +49% · Conversion: Difficult
RETAIL STORES
$1,435,000
Change: +35% · Conversion: Difficult
Blend value · Realmo final
$1.15M
Range $1.03M – $1.26M · ±10%
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
$64 / 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
$25,397
Tax year 2023
Assessed value
$1,312,515
Assessed 2023
Previous assessed
$1,234,622
+6.3% YoY
Effective rate
1.93%
On assessed value
Assessed land
$451,000
Assessed improvement
$861,515
Land market value
$451,000
Improvement market value
$861,515
Total market value
$1,312,515
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
Motels
Use group
MOTEL
Status
For Sale
Year built
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Buildings
2
Stories
2
Units
82
Total area
17,916 SF
Lot
1.92 ac (83,635 SF)
APN
21-23-20-032-000-0
UPID
US18-2929980
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
HOTEL/MOTEL Current
Est. value
$1.1M
RESTAURANT
Est. value
$1.7M
MEDICAL BUILDING
Est. value
$1.6M
RETAIL STORES
Est. value
$1.4M
HOTEL/MOTEL Current
RESTAURANT
MEDICAL BUILDING
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
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
2
Buildings
2
Units
82
Lot
1.92 ac
Current owner
From public records · entity-resolved
Rudrah LLC
Entity
Mailing address
2930 HOSPITALITY ST, TALLAHASSEE, FL 32303-4041
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 11, 2020
—
Rudrah LLC
—
Deed
related
$150,000 · Thomasville Nat'l Bk
Jun 30, 2017
—
Rudrah LLC
—
Deed
related
$1,291,786 · Thomasville Nat'l Bk
Mar 13, 2015
$1,500,000
Rudrah LLC
C E Brooks Investments INC
Special Warranty Deed
$1,350,000 · C E Brooks Investments INC
—
—
Rudrah LLC
—
Deed Of Trust
related
$1,291,786 · Thomasville Nat'l Bk
—
—
Rudrah LLC
—
Loan Modification
related
$150,000 · Thomasville Nat'l 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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