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Property profile & analytics
OFF-MARKET
Estimated value
$8,145,000
Community centers
3111 Mahan Dr Ste 1 Tallahassee, FL 32308-5511
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US19-0497928
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
41,685 SF
Lot
11.75 ac (511,830 SF)
APN
11-27-15-000-002-0
UPID
US19-0497928
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$7.33M
Comparable Approach
Comparable
$4.97M
Blend (final)
Blend
$8.15M
Owner & transaction history
Lafayette Place Omv LLC · 11 yrs held
Lafayette Place Omv LLC
since 2015
7 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
by Request
CAP Approach
CAP Return
Estimation
6%
$7,935,000
6.5%
$7,325,000
7%
$6,800,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$11,750,000
Current use
RESTAURANT
$10,460,000
Change: -11% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$9,835,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$8.15M
Range $7.33M – $8.96M · ±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
$195 / 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
$224,734
Tax year 2023
Assessed value
$11,644,809
Assessed 2023
Previous assessed
$10,547,727
+10.4% YoY
Effective rate
1.93%
On assessed value
Assessed land
$2,533,559
Assessed improvement
$9,111,250
Land market value
$2,533,559
Improvement market value
$9,111,250
Total market value
$11,644,809
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
Off-Market
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Buildings
6
Stories
1
Total area
41,685 SF
Lot
11.75 ac (511,830 SF)
APN
11-27-15-000-002-0
UPID
US19-0497928
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
$11.8M
RESTAURANT
Est. value
$10.5M
INDUSTRIAL (GENERAL)
Est. value
$9.8M
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
INDUSTRIAL (GENERAL)
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
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Buildings
6
Lot
11.75 ac
Current owner
From public records · entity-resolved
Lafayette Place Omv LLC
Entity
Mailing address
3607 SW SHR BLVD, TAMPA, FL 33629-8235
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
23 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 2, 2015
$11,375,000
Lafayette Place Omv LLC
Lsref2 Gator Lafayette LLC
Special Warranty Deed
$9,000,000 · Citigroup Global Markets Realty Cor
Dec 28, 2012
—
Lsref2 Gator Lafayette LLC
—
Deed Of Trust
related
$30,000,000 · Wells Fargo Bank
Oct 1, 2012
$11,624,600
Lsref2 Gator Lafayette LLC
Woolbright Lafayette LLC
Grant Deed
—
Apr 4, 2007
$11,338,400
Woolbright Lafayette LLC
Watch Omega Holdings LP
Special Warranty Deed
—
—
—
Leanard N Glover
—
Deed Of Trust
related
$34,522 · Banc One Financial Svcs INC
—
—
Ira B Wagner
—
Deed Of Trust
related
$56,999 · Household Finance Corp III
—
—
Vickie C Wesson
—
Deed Of Trust
related
$89,998 · Household Finance Corp III
—
—
Carol C Spivey
—
Deed Of Trust
related
$247,368 · Household Finance Corp III
—
—
John A Sostre
—
Deed Of Trust
related
$169,314 · Household Finance Corp III
—
—
Shane G Meadors
—
Deed Of Trust
related
$82,104 · Household Finance Corp III
—
—
Joseph C Roache
—
Deed Of Trust
related
$178,946 · Household Finance Corp III
—
—
Robert W Obernier
—
Deed Of Trust
related
$165,978 · Household Finance Corp III
—
—
Joseph Derouen
—
Deed Of Trust
related
$29,277 · Household Finance Corp III
—
—
Leroy M Dickey
—
Deed Of Trust
related
$15,000 · Household Finance Corp III
—
—
Essie M Allen
—
Deed Of Trust
related
$23,500 · Household Finance Corp III
—
—
Bradley M Bennett
—
Deed Of Trust
related
$15,000 · Household Finance Corp III
—
—
Thomas F Schilb
—
Deed Of Trust
related
$5,000 · Household Finance Corp III
—
—
Kevin D Gainous
—
Deed Of Trust
related
$17,900 · Household Finance Corp III
—
—
Julian C Moore
—
Deed Of Trust
related
$17,500 · Household Finance Corp III
—
—
Vance E Winters
—
Deed Of Trust
related
$25,000 · Household Finance Corp III
—
—
Kevin D Gainous
—
Deed Of Trust
related
$45,099 · Household Finance Corp III
—
—
Patricia R Paynter
—
Deed Of Trust
related
$54,999 · Household Finance Corp III
—
—
Jo A Campbell
—
Deed Of Trust
related
$20,000 · Household Finance Corp III
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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