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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2816 Mahan Dr Tallahassee, FL 32308-5410

    • Distribution centers
    • 7,080 SF
    • 1.64 lot acres
    OFF-MARKET
    Last Sale
    Oct 01, 2020
    $930,000
    Value Estimations
    $865,000
    Show details
    Cap Rate Potential
    4.6%
    Distribution centers
    Location Intelligence
    Property ID
    US18-7169616
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Distribution centers

    Property Details for 2816 Mahan Dr

    Year built
    1982
    Construction
    FRAME
    Lot size
    1.64 lot acres
    Property size
    7,080 SF
    Property type
    Distribution centers
    APN
    11-28-20-029-000-0
    APU
    1128200290000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,195,000
      ML approach
      $850,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $920,000
      6.5%
      $850,000
      7%
      $790,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $759,000
      Market price range: $413k - $1.21M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $720,000
      Current use
      MEDICAL BUILDING
      $1,185,000
      Change: +65% Conversion: Difficult
      OFFICE BUILDING
      $1,165,000
      Change: +62% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Tallahassee
    County
    Leon
    State
    Florida
    Longitude
    -84.2306
    Latitude
    30.4604
    CBSA code
    45220
    CBSA name
    TALLAHASSEE, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $8,796
    $204,938
    $261,575
    $466,513
    -
    $204,938
    $261,575
    $466,513

    Comparable in this City

    • Value Estimation
      $820,000
      10,150 SF

      2411 Fleischmann Rd

      DISTRIBUTION WAREHOUSE • 10,150 SF
      2411 Fleischmann Rd, Tallahassee, FL 32308-4582
      View Details
    • Value Estimation by Request
      1,380 SF

      2490 Centerville Rd, Unit 3

      DISTRIBUTION WAREHOUSE • 1,380 SF
      2490 Centerville Rd, Tallahassee, FL 32308-5989
      View Details
    • Value Estimation
      $1,190,000
      16,800 SF

      2591 Centerville Rd

      DISTRIBUTION WAREHOUSE • 16,800 SF
      2591 Centerville Rd, Tallahassee, FL 32308-0564
      View Details
    • Value Estimation by Request
      7,892 SF

      2595 Centerville Rd

      DISTRIBUTION WAREHOUSE • 7,892 SF
      2595 Centerville Rd, Tallahassee, FL 32308-4501
      View Details
    • Value Estimation
      $615,000
      6,120 SF

      3154 Eliza Rd

      DISTRIBUTION WAREHOUSE • 6,120 SF
      3154 Eliza Rd, Tallahassee, FL 32308-6229
      View Details
    • Value Estimation by Request
      4,200 SF

      3015 Nathan Ln

      DISTRIBUTION WAREHOUSE • 4,200 SF
      3015 Nathan Ln, Tallahassee, FL 32308-6289
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      54,500 SF

      Golden Commerce Center Opportunity

      Rare industrial/warehouse/distribution space in Tallahassee, Florida.
      2821 Industrial Plaza Dr, Tallahassee, FL 32308
      View Details
    • Contact for pricing
      3,000 SF

      Conditioned Warehouse/Flex Space Available

      3000 SF flex space with easy access to I-10.
      3360 Raymond Diehl Business Ln Rd, Tallahassee, FL 32308
      View Details
    • $450,000
      3,000 SF

      Tallahassee Flex Warehouse For Sale

      3,000 SF fully conditioned flex warehouse in NE Tallahassee.
      3360 Raymond Diehl Bus Lane Rd, Tallahassee, FL 32308
      View Details
    • $2,745,000
      6.54 Acres

      Mahan Corridor Land: Prime Development Site

      6.535 Acres, Excellent Location, High Traffic
      0 Xx Mahan Dr, Tallahassee, FL 32308
      View Details
    • $1,500,000
      3.45 Acres

      Mahan Drive Commercial Land

      3.45 Acres, Prime Tallahassee Location
      3716 Mahan Dr, Tallahassee, FL 32308
      View Details
    • $1,400,000
      4 SF

      4.06 Acres Ready For Development

      4.06 acres in NE Tallahassee's Office/Medical District.
      Miccosukee Rd, Tallahassee, FL 32308
      View Details

    Similar Nearby for Lease

    • New
      $1,495 /Mo
      436 SF

      Tallahassee Storage Space For Rent

      Storage space available near Downtown Tallahassee with convenient roll-up door.
      1317 Mahan Dr, Tallahassee, FL 32308
      View Details
    • New
      $1,195 /Mo
      436 SF

      Tallahassee Commercial Space For Rent

      Commercial space with office and warehouse potential in Tallahassee, Florida.
      1319 Mahan Dr, Tallahassee, FL 32308
      View Details
    • $15 SF/Yr
      2,066 SF

      Live Oak Plaza: Prime Tallahassee Office

      Two Executive Suites, Ample Parking, 2066 SF Total
      1891 Capital Cir, Tallahassee, FL 32308
      View Details
    • $68 SF/Yr
      4,100 SF

      Capital Hill Plaza: Last Building Available

      Tallahassee Commercial Land, Prime Location
      2314 Capital Cir, Tallahassee, FL 32308
      View Details
    • $22 SF/Yr
      3,569 SF

      Tallahassee Medical Office Building

      Prime Location, 3,569 SF Medical Office
      3401 Capital Cir, Tallahassee, FL 32308
      View Details
    • $1,800 /Mo
      1,250 SF

      Professional Office Space Available

      Single-story office building in high-traffic area, suitable for businesses.
      1963 Village Green Way, Tallahassee, FL 32308
      View Details
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    2816 Mahan Dr
    Tallahassee, FL 32308-5410
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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