318 N Calhoun St Tallahassee Tallahassee, FL 32301
Office buildings
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318 N Calhoun St,Unit Tallahassee, Tallahassee, FL 32301
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Estimated value (blended)
$335k
Range $302k – $369k (±10%)
Property ID
US18-8944030
Property summary
AI-generated overview
This stunning three-story, 4,815 square foot Class B executive office building is located in Tallahassee's Historic District at 318 N Calhoun St, 32301. Built in 1900, this property boasts eight private offices, three reception areas, a conference room, a library, a full kitchen, multiple restrooms, and six fireplaces. Hardwood floors and ample storage space are featured throughout. The building sits on a 0.26-acre lot and includes nine on-site parking spaces. Its prime location offers convenient access to the Florida State Capitol complex, Leon County and Federal Courthouses, and numerous downtown amenities. The permitted zoning is Special Character District. This property is currently vacant and available for $695,000. Owner financing is available. This exceptional property is ideal for a law firm, financial institution, or other professional services business seeking a prestigious and convenient location. The asking price per square foot is $144.34. The lease type is modified.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1900
Construction
WOOD
Total area
4,815 SF
Lot
0.26 ac (11,326 SF)
APN
21-36-40-100-362-5
UPID
US18-8944030
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Financial Advisor
-
Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$970k
Comparable Approach
Comparable
$828k
Blend (final)
Blend
$335k
Owner & transaction history
since 2011
5 recorded transactions
Zoning & alternative use
Top alternative use upside
Neighborhood: shopping center
$1.3M
+45.5%
Retail stores
$1.0M
+14.4%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 7 comparables with addresses
5 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$335k
Value range
$302k – $369k
±10% around blend
Estimated value / SF
$70 / SF
Confidence
High
7 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
70
Income certainty
100
$302k
blend $335k
$369k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
4,815 SF
Lot area
0.26 ac
Year built
1900
Stories
3
APN
21-36-40-100-362-5
Assessed value
$684,333
Annual tax
$7,628
3
Income approach: direct capitalization
Partial preview
Income approach indication
$970k
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$1.05M
@ 6.5% CAP return
$970k
@ 7% CAP return
$900k
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$7,628
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$633k
Weighted, 7 comps · high confidence
Evidence
7 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
1.1 mi away · 3,575 SF
1.9 mi away · 4,784 SF
2.3 mi away · 5,730 SF
3.1 mi away · 6,050 SF
4.2 mi away · 3,413 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$335k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 92 sales
$186
-63%
Submarket 372 sales
$169
-59%
County 372 sales
$169
-59%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $70/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Neighborhood: Shopping Center
Gross theoretical uplift
+45%
vs current-use indication
Retail Stores
Office Building · current use
Commercial (general)
Medical Building
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 7 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Selected market yield
9.21%
Selected cap rate for this office buildings
Derived from the Tallahassee market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 9.21%
9.0%
NOI (est.)
$64k *
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$695k
Move the market yield to see immediate price impact.
Value / SF
$144
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
8.71%9.21%9.71%
$58k
$661k
$625k
$593k
$64k
$735k
$695k
$659k
$70k
$808k
$764k
$725k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
7 found
High confidence · county-verified
Closest comparable
$555k
0.8 mi · Mar 2026 · $147/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$7,628
Tax year 2023
Assessed value
$684,333
Assessed 2023
Previous assessed
$501,033
+36.6% YoY
Effective rate
1.11%
On assessed value
Assessed land
$84,945
Assessed improvement
$599,388
Land market value
$84,945
Improvement market value
$599,388
Total market value
$684,333
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1900
Construction
WOOD
Heating
YES
Cooling
YES
Buildings
1
Stories
3
Total area
4,815 SF
Lot
0.26 ac (11,326 SF)
APN
21-36-40-100-362-5
UPID
US18-8944030
Jurisdiction
LEON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1900
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
3
Buildings
1
Lot
0.26 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
Find the owner behind the property.
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Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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