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Property profile & analytics
FOR LEASE
Community centers
3020 West Pensacola St Tallahassee, FL 32304
Entity Owned
1-yr Hold
Free & Clear
Property ID
US18-6397939
For Lease
1 / 8
$1,590,000
3020 West Pensacola St, Tallahassee, FL 32304
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Property summary
AI-generated overview
This exceptional 5,475 square foot shopping center in Tallahassee, Florida, boasts a 7.00% cap rate and a strong 100% occupancy. Located directly across from Tallahassee Community College (TCC) and minutes from Florida State University (FSU), this property benefits from a massive student population of approximately 56,000 within a two-mile radius. The center's prime location also offers proximity to major national retailers like Publix and Target. The asking price is $1,771,957, with a Net Operating Income (NOI) of $124,037. Landlord responsibilities are limited to roof and structure maintenance, with tenants covering other expenses. Tallahassee's population has grown significantly since 2020, presenting a compelling investment opportunity in a thriving market. Florida's status as an income tax-free state further enhances the investment appeal. This multi-tenant retail property offers a stable income stream and significant upside potential in a high-demand college town location. The property is situated at 3020 W Pensacola St, Tallahassee, FL 32304.
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
2014
Construction
FRAME
Total area
5,475 SF
Lot
1.74 ac (75,794 SF)
APN
21-33-05-000-001-0
UPID
US18-6397939
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
-
Which Wich Superior Sandwiches Take-out & Catering
-
Jail Bail Bonds Tallahassee Law Firm
-
Moe's Southwest Grill Take-out & Catering Catering Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.50M
CAP Approach
CAP
$960k
Comparable Approach
Comparable
$1.10M
Blend (final)
Blend
$1.59M
Owner & transaction history
Willow Tree Investments LLC · 1 yrs held
Willow Tree Investments LLC
since 2025
Last sale
$1.7M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.0M
+31.1%
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
$1,500,000
ML approach
$1,500,000
CAP Approach
CAP Return
Estimation
6%
$1,040,000
6.5%
$960,000
7%
$895,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,545,000
Current use
COMMERCIAL (GENERAL)
$2,025,000
Change: +31% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,290,000
Change: -16% · Conversion: Difficult
RESTAURANT
$1,240,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$1.59M
Range $1.43M – $1.75M · ±10% · vs last sale $1.68M (Mar 12 2025)
Last sale anchor
$1.68M
Mar 12 2025
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
$290 / 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
$14,463
Tax year 2023
Assessed value
$755,445
Assessed 2023
Previous assessed
$676,685
+11.6% YoY
Effective rate
1.91%
On assessed value
Assessed land
$270,016
Assessed improvement
$485,429
Land market value
$270,016
Improvement market value
$485,429
Total market value
$755,445
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
Community centers
Use group
MINI-MALL
Status
For Lease
Year built
2014
Construction
FRAME
Heating
YES
Cooling
YES
Buildings
1
Stories
1
Total area
5,475 SF
Lot
1.74 ac (75,794 SF)
APN
21-33-05-000-001-0
UPID
US18-6397939
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$2.0M
INDUSTRIAL (GENERAL)
Est. value
$1.3M
RESTAURANT
Est. value
$1.2M
NEIGHBORHOOD: SHOPPING CENTER Current
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
RESTAURANT
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
2014
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Buildings
1
Lot
1.74 ac
Current owner
From public records · entity-resolved
Willow Tree Investments LLC
Entity
Free & Clear · 1 yrs held
Mailing address
9484 ALBERTA CT, FRISCO, TX 75033-1286
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 12, 2025
$1,675,000
Willow Tree Investments LLC
Whitebrick Investments LLC
Warranty Deed
—
Sep 5, 2019
$1,765,000
Whitebrick Investments LLC
Walker Plaza LLC
Warranty Deed
$1,235,500 · Centerstate Bank Of Florida NA
Sep 5, 2019
—
Whitebrick Investments LLC
—
Deed
related
$1,235,500 · Centerstate Bk NA
Jul 1, 2014
—
Walker Plaza LLC
Subway Adventures INC
Quit Claim Deed
related
$1,030,000 · Prime Meridian Bank
—
—
Whitebrick Investments LLC
—
Deed Of Trust
related
$1,235,500 · Centerstate Bk NA
—
—
Subway Adventures INC
—
Deed Of Trust
related
$470,000 · Bank Of America
—
—
Subway Adventures IV INC
—
Deed Of Trust
related
$150,000 · Bank Of America
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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