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Property profile & analytics
OFF-MARKET
Estimated value
$790,000
Turn key restaurants
2707 Monroe St Tallahassee, FL 32303-4029
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US18-2929976
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1983
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,935 SF
Lot
1.93 ac (84,071 SF)
APN
21-14-20-435-000-0
UPID
US18-2929976
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
-
Sonny's BBQ Take-out & Catering Catering Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$713k
Blend (final)
Blend
$790k
Owner & transaction history
Afn Absprop001 LLC · 7 yrs held
Afn Absprop001 LLC
since 2019
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.2M
+41.1%
Retail stores
$1.1M
+21.4%
Commercial (general)
$880,000
+1.7%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$865,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,225,000
Change: +41% · Conversion: Difficult
RETAIL STORES
$1,050,000
Change: +21% · Conversion: Easy
COMMERCIAL (GENERAL)
$880,000
Change: +2% · Conversion: Easy
MEDICAL BUILDING
$825,000
Change: -5% · Conversion: Difficult
OFFICE BUILDING
$815,000
Change: -6% · Conversion: Moderate
Blend value · Realmo final
$790k
Range $711k – $869k · ±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
$160 / 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
$18,870
Tax year 2023
Assessed value
$977,678
Assessed 2023
Previous assessed
$885,683
+10.4% YoY
Effective rate
1.93%
On assessed value
Assessed land
$437,169
Assessed improvement
$540,509
Land market value
$437,169
Improvement market value
$540,509
Total market value
$977,678
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1983
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Buildings
1
Stories
1
Total area
4,935 SF
Lot
1.93 ac (84,071 SF)
APN
21-14-20-435-000-0
UPID
US18-2929976
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
RESTAURANT Current
Est. value
$865,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
RETAIL STORES
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$880,000
MEDICAL BUILDING
Est. value
$825,000
OFFICE BUILDING
Est. value
$815,000
RESTAURANT Current
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
COMMERCIAL (GENERAL)
MEDICAL BUILDING
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
1983
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Buildings
1
Lot
1.93 ac
Current owner
From public records · entity-resolved
Afn Absprop001 LLC
Entity
Mailing address
7621 LITTLE AVE STE #200, CHARLOTTE, NC 28226-8379
Ownership since
2019
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
Jun 13, 2019
$2,730,000
Afn Absprop001 LLC
Arg Sbtlhfl002 LLC
Special Warranty Deed
$242,000,000 · Citibank NA
Jan 15, 2019
$2,481,205
Arg Sbtlhflo002 LLC
Second Helpings INC
Correction Deed
—
Jan 26, 2018
$2,481,205
Arg Sbtlhfl002 LLC
Second Helpings INC
Warranty Deed
—
Apr 24, 2014
—
Second Helpings INC
Rib INC
Grant Deed
related
—
Jul 12, 2013
—
Second Helpings INC
Rib INC
Warranty Deed
related
—
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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