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Property profile & analytics
OFF-MARKET
Estimated value
$1,330,000
Hotels
2702 Monroe St Tallahassee, FL 32303-4030
Entity Owned
~
Est. High Equity
Property ID
US19-0704039
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1988
Construction
WOOD
Total area
22,749 SF
Lot
1.13 ac (49,223 SF)
APN
21-23-20-009-000-0
UPID
US19-0704039
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
-
Rodeway Inn Hotel & Motel
-
Clarion Pointe Tallahassee-State Capitol Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.50M
Comparable Approach
Comparable
$1.16M
Blend (final)
Blend
$1.33M
Owner & transaction history
Cdr Group Tallahassee LLC
Cdr Group Tallahassee LLC
since 2025
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.0M
+49.1%
Retail stores
$1.8M
+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%
$1,620,000
6.5%
$1,495,000
7%
$1,390,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$1,355,000
Current use
MEDICAL BUILDING
$2,020,000
Change: +49% · Conversion: Difficult
RETAIL STORES
$1,825,000
Change: +35% · Conversion: Difficult
Blend value · Realmo final
$1.33M
Range $1.20M – $1.46M · ±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
$58 / 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
$24,167
Tax year 2023
Assessed value
$1,368,000
Assessed 2023
Previous assessed
$1,092,838
+25.2% YoY
Effective rate
1.77%
On assessed value
Assessed land
$435,000
Assessed improvement
$933,000
Land market value
$435,000
Improvement market value
$933,000
Total market value
$1,368,000
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1988
Construction
WOOD
Heating
YES
Cooling
YES
Buildings
1
Stories
3
Units
58
Total area
22,749 SF
Lot
1.13 ac (49,223 SF)
APN
21-23-20-009-000-0
UPID
US19-0704039
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
$1.4M
MEDICAL BUILDING
Est. value
$2.0M
RETAIL STORES
Est. value
$1.8M
HOTEL/MOTEL Current
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
1988
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
3
Buildings
1
Units
58
Lot
1.13 ac
Current owner
From public records · entity-resolved
Cdr Group Tallahassee LLC
Entity
Mailing address
175 1ST ST S APT #1903, SAINT PETERSBURG, FL 33701-4516
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 5, 2025
$4,500,000
Cdr Group Tallahassee LLC
Monroe Hospitality Group LLC
Special Warranty Deed
$5,000,000 · Peoples Bank
Sep 7, 2017
$1,250,000
Monroe Hospitality Group LLC
Shri Ganeshji LLC
Warranty Deed
—
Jun 28, 2012
$500,000
Shri Ganeshji LLC
Shri Laxmi LLC
Grant Deed
related
$650,000 · Shri Laxmi LLC
Mar 24, 2008
$1,950,000
Shri Laxmi LLC
Raman Hospitality INC
Warranty Deed
$1,600,000 · Ameris Bank
Sep 16, 2005
$1,634,100
Raman Hospitality INC
Omkar Of Tallahassee INC
Warranty Deed
—
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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