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

    2919 Commonwealth Blvd Tallahassee, FL 32303-3156

    • Warehouses
    • 150,596 SF
    • 19.79 lot acres
    OFF-MARKET
    Value Estimations
    $1,110,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0138365
    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

    • GT Technologies / Manufacturer

    Property Details for 2919 Commonwealth Blvd

    Year built
    1981
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    19.79 lot acres
    Property size
    150,596 SF
    Property type
    Warehouses
    APN
    21-19-30- B-005-0
    APU
    211930B0050

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,110,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Tallahassee
    County
    Leon
    State
    Florida
    Longitude
    -84.3508
    Latitude
    30.4731
    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
    $77,259
    $728,434
    $3,264,403
    $3,992,837
    -
    $728,434
    $3,264,403
    $3,992,837

    Comparable in this City

    • Value Estimation
      $1,340,000
      90,732 SF

      2930 Commonwealth Blvd

      WAREHOUSE, STORAGE • 90,732 SF
      2930 Commonwealth Blvd, Tallahassee, FL 32303-3155
      View Details
    • Value Estimation
      $230,000
      1.73 Acres

      5118 Woodlane Cir

      STORAGE YARD, OPEN STORAGE • 1.73 Acres
      5118 Woodlane Cir, Tallahassee, FL 32303
      View Details
    • Value Estimation
      $240,000
      1,400 SF

      1207 Commercial Park Dr

      WAREHOUSE, STORAGE • 1,400 SF
      1207 Commercial Park Dr, Tallahassee, FL 32303-5314
      View Details
    • Value Estimation
      $905,000
      27,410 SF

      2929 Hartsfield Rd

      WAREHOUSE, STORAGE • 27,410 SF
      2929 Hartsfield Rd, Tallahassee, FL 32303-3128
      View Details
    • Value Estimation
      $4,105,000
      65,688 SF

      3121 Hartsfield Rd

      WAREHOUSE, STORAGE • 65,688 SF
      3121 Hartsfield Rd, Tallahassee, FL 32303-3149
      View Details
    • Value Estimation by Request
      20,000 SF

      3944 Passage

      Distribution properties • 20,000 SF
      3944 Passage, Tallahassee, FL 32303
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      13,500 SF

      Industrial Warehouse Space For Sale

      Warehouse space with dock and grade level roll-up doors.
      4794 Woodlane Cir, Tallahassee, FL 32303
      View Details
    • $1,595,000
      14,500 SF

      Office/Warehouse Building on N Monroe

      Class A office/warehouse building suitable for e-commerce, distribution, manufacturing.
      4030 N Monroe St, Tallahassee, FL 32303
      View Details
    • $1,150,000
      20,000 SF

      Flex Industrial Warehouse For Sale

      Value-add flex/industrial building with office and warehouse space.
      3050 W Tharpe St, Tallahassee, FL 32303
      View Details
    • Contact for pricing
      8,400 SF

      Warehouse Space in Woodlane Circle

      Warehouse space in a sought-after industrial area, close to I-10.
      4790 Woodlane Cir, Tallahassee, FL 32303
      View Details
    • $690,000
      11,450 SF

      Tallahassee Industrial Warehouse For Sale

      11,450 SF industrial warehouse in Tallahassee, Florida available for purchase.
      3060 W Tharpe St, Tallahassee, FL 32303
      View Details
    • $65,000
      0.89 Acres

      Tallahassee Industrial Land - $65k

      0.89-acre industrial lot, buildable, high & dry.
      0 Old Bainbridge Rd, Tallahassee, FL 32303
      View Details

    Similar Nearby for Lease

    • $11 SF/Yr
      11,150 SF

      Tallahassee Industrial Flex Space

      11,150 SF Multi-Tenant Industrial
      5030 Tennessee Capital Blvd, Tallahassee, FL 32303
      View Details
    • $10 SF/Yr
      6,000 SF

      Office/Warehouse Space Near I-10

      Office and warehouse space in a sought-after industrial area.
      4800 Woodlane Cir, Tallahassee, FL 32303
      View Details
    • $11 SF/Yr
      6,700 SF

      Renovated Warehouse with Secure Access

      Move-in ready warehouse with modern updates and strategic location.
      3143 W Tharpe St, Tallahassee, FL 32303
      View Details
    • $12 SF/Yr
      10,400 SF

      Warehouse with Fenced Yard

      Warehouse space with fenced yard, minutes from US Highway 27.
      4708 Capital Cir NW, Tallahassee, FL 32303
      View Details
    • $14 SF/Yr
      12,500 SF

      Warehouse with Office Space Available

      15,000 SF warehouse with office space for lease.
      4016 Passage NW, Tallahassee, FL 32303
      View Details
    • $12 SF/Yr
      1,800 SF

      Industrial Space Available For Lease

      Industrial property with 1800 square feet available for rent.
      5285 Tower Rd, Tallahassee, FL 32303
      View Details
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    2919 Commonwealth Blvd
    Tallahassee, FL 32303-3156
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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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