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Property profile & analytics
OFF-MARKET
Estimated value
$995,000
Hotels
2997 Apalachee Pkwy Tallahassee, FL 32301-3679
Entity Owned
15-yr Hold
Free & Clear
Property ID
US18-2638860
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
2011
Construction
WOOD
Total area
53,707 SF
Lot
1.83 ac (79,715 SF)
APN
31-04-20-417-000-0
UPID
US18-2638860
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
-
Fairfield Inn & Suites Tallahassee Central Hotel & Motel
-
2997 Apalachee Parkway Parking Parking Lot & Garage
-
Evergreen apts Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$705k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.28M
Blend (final)
Blend
$995k
Owner & transaction history
Sunbelt-fth LLC · 15 yrs held
Sunbelt-fth LLC
since 2010
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$705,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$1,470,000
Current use
Blend value · Realmo final
$995k
Range $896k – $1.09M · ±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
$19 / 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
$88,240
Tax year 2023
Assessed value
$4,678,128
Assessed 2023
Previous assessed
$4,103,635
+14.0% YoY
Effective rate
1.89%
On assessed value
Assessed land
$921,500
Assessed improvement
$3,756,628
Land market value
$921,500
Improvement market value
$3,756,628
Total market value
$4,678,128
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
2011
Construction
WOOD
Heating
YES
Cooling
YES
Buildings
1
Stories
4
Units
97
Total area
53,707 SF
Lot
1.83 ac (79,715 SF)
APN
31-04-20-417-000-0
UPID
US18-2638860
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
$1.5M
HOTEL/MOTEL Current
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
2011
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
4
Buildings
1
Units
97
Lot
1.83 ac
Current owner
From public records · entity-resolved
Sunbelt-fth LLC
Entity
Free & Clear · 15 yrs held
Mailing address
814 E MAIN ST, RICHMOND, VA 23219-3306
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 4, 2010
$1,125,000
Sunbelt-fth LLC
Mitesh Of Tallahassee INC
Warranty Deed
—
Jul 22, 2010
—
Mitesh Of Tallahassee INC
Parbhu,chunilal D & Lataben C
Grant Deed
—
—
—
Mitesh Of Tallahassee
—
Deed Of Trust
related
$907,630 · The Bank
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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