Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    3101 Ginger Dr Tallahassee, FL 32308-4437

    • Residential income homes
    • 58,499 SF
    • 5.00 lot acres
    OFF-MARKET
    Last Sale
    Nov 07, 2023
    $7,829,834
    Value Estimations
    $9,090,000
    Show details
    Cap Rate Potential
    6.8%
    Residential income homes
    Location Intelligence
    Property ID
    US18-4727491
    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

    • Aspire at Tallahassee / Medical Center / Nursing Home
    • Kelvin Reddick, Physical / Physical Therapist / Physical Therapy Clinic
    • Quinzetta M. Oliver, OTR / Physical Therapist / Occupational Therapist
    • Pamela Paige North Florida Senior Care / Internist
    • William Lantz North Florida Senior Care / General Practitioner

    Property Details for 3101 Ginger Dr

    Year built
    1983
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    5.00 lot acres
    Property size
    58,499 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    11-21-20-008-000-0
    APU
    1121200080000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $9,060,000
      ML approach
      $8,945,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $10,215,000
      6.5%
      $9,430,000
      7%
      $8,755,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Tallahassee
    County
    Leon
    State
    Florida
    Longitude
    -84.2269
    Latitude
    30.4732
    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
    $82,785
    $1,158,696
    $3,119,685
    $4,278,381
    -
    $1,158,696
    $3,119,685
    $4,278,381

    Comparable in this City

    • Value Estimation by Request
      21,705 SF

      1980 Ctr Pointe Blvd

      APARTMENT HOUSE (UNDER 5 UNITS) • 21,705 SF
      1980 Ctr Pointe Blvd, Tallahassee, FL 32308-4873
      View Details
    • Value Estimation by Request
      70,044 SF

      2110 Fleischmann Rd

      APARTMENT HOUSE (UNDER 5 UNITS) • 70,044 SF
      2110 Fleischmann Rd, Tallahassee, FL 32308-0562
      View Details
    • Value Estimation
      $3,445,000
      28,860 SF

      1780 Hermitage Blvd

      APARTMENT HOUSE (UNDER 5 UNITS) • 28,860 SF
      1780 Hermitage Blvd, Tallahassee, FL 32308-7708
      View Details
    • Value Estimation
      $305,000
      800 SF

      2522 Capital Cir Ne Ste, Unit 2

      OFFICE/RESIDENTIAL (MIXED USE) • 800 SF
      2522 Capital Cir Ne Ste, Tallahassee, FL 32308-4110
      View Details
    • Value Estimation by Request
      1,652 SF

      000- Fully Built-Out Florida Restaurant For Sale!

      Restaurants • 1,652 SF
      000- Fully Built-Out Florida Restaurant For Sale!, Tallahassee, FL 32308
      View Details
    • Value Estimation
      $305,000
      800 SF

      2522 Capital Cir Ne Ste, Unit 10

      OFFICE/RESIDENTIAL (MIXED USE) • 800 SF
      2522 Capital Cir Ne Ste, Tallahassee, FL 32308-4110
      View Details

    Similar Nearby for Sale

    • $990,000

      Turnkey Investment Property in Tallahassee

      Four fully renovated, income-generating properties with high-end finishes.
      717 E Tennessee St, Tallahassee, FL 32308
      View Details
    • $320,000
      0.03 Acres

      Professional Office Space Available Now

      Northeast Tallahassee office with impressive leasing history and versatile layout.
      1618 Mahan Center Blvd, 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
    • $9,000,000
      1.00 Acre

      Canopy Town Center Land

      Prime Tallahassee commercial land, development ready.
      0 Welaunee Blvd, Tallahassee, FL 32308
      View Details
    • $6,222,800
      31,114 SF

      Hermitage Office Park For Sale

      Hermitage Office Park For Sale
      1709 Hermitage Blvd., Tallahassee, FL 32308
      View Details
    • $225,000
      0.49 Acres

      Commercial Lot Near HCA Hospital

      0.49 acre commercial lot near HCA Hospital.
      Junwin Ct, Tallahassee, FL 32308
      View Details

    Similar Nearby for Lease

    • $1,350 /Mo
      1,000 SF

      Townhome Near CC NE

      Townhome near CC NE with 1000 square feet available now.
      1782 Dax Ct, 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
    • $1,500 /Mo
      20,038 SF

      Efficient Micro Office with Gym

      750 sqft Tallahassee office with gym access, available 10/15.
      3554 Austin Davis Ave, 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
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3101 Ginger Dr
    Tallahassee, FL 32308-4437
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.