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Property profile & analytics
OFF-MARKET
Estimated value
$6,900,000
Hotels
3219 Monroe St Tallahassee, FL 32303-2821
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US19-0661960
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
2000
Construction
WOOD
Total area
38,457 SF
Lot
2.7 ac (117,612 SF)
APN
21-15-51-445-109-5
UPID
US19-0661960
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 Tallahassee North/I-10 Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.44M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.90M
Owner & transaction history
Pelta Tallahassee Propco LLC · 3 yrs held
Pelta Tallahassee Propco LLC
since 2022
Last sale
$7.6M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$9.0M
+291.8%
Industrial (general)
$7.7M
+233.8%
Office building
$5.4M
+136.6%
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
$5,975,000
ML approach
$6,435,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$8,975,000
Change: +292% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$7,650,000
Change: +234% · Conversion: Difficult
OFFICE BUILDING
$5,420,000
Change: +137% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$5,095,000
Change: +122% · Conversion: Difficult
Blend value · Realmo final
$6.90M
Range $6.21M – $7.59M · ±10% · vs last sale $7.60M (Sep 22 2022)
Last sale anchor
$7.60M
Sep 22 2022
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
$179 / 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
$65,222
Tax year 2023
Assessed value
$4,377,436
Assessed 2023
Previous assessed
$2,251,131
+94.5% YoY
Effective rate
1.49%
On assessed value
Assessed land
$750,500
Assessed improvement
$3,626,936
Land market value
$750,500
Improvement market value
$3,626,936
Total market value
$4,377,436
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
2000
Construction
WOOD
Heating
YES
Cooling
YES
Buildings
1
Stories
3
Units
79
Total area
38,457 SF
Lot
2.7 ac (117,612 SF)
APN
21-15-51-445-109-5
UPID
US19-0661960
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
COMMERCIAL (GENERAL)
Est. value
$9.0M
INDUSTRIAL (GENERAL)
Est. value
$7.7M
OFFICE BUILDING
Est. value
$5.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.1M
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
2000
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
3
Buildings
1
Units
79
Lot
2.7 ac
Current owner
From public records · entity-resolved
Pelta Tallahassee Propco LLC
Entity
Mailing address
135 MIDDLE ST STE #1021, LAKE MARY, FL 32746-3595
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 22, 2022
$7,600,000
Pelta Tallahassee Propco LLC
3219 Tallahassee LLC
Special Warranty Deed
$6,200,000 · Wells Fargo Bank NA
Aug 13, 2020
—
3219 Tallahassee LLC
—
Deed
related
$3,366,219 · Live Oak Bkng Co
Dec 19, 2017
$5,485,000
3219 Tallahassee LLC
Hc Tallahassee LLC
Grant Deed
$2,019,731 · Live Oak Bkg
Jun 5, 2014
$3,650,000
Hc Tallahassee LLC
Apple Seven Hospitality Owners
Grant Deed
$7,792,500 · Lmrec III Holdings V INC
May 24, 2007
$1,012,000
Stores East Wal-mart
Finklestein,mildred R
Warranty Deed
—
May 24, 2007
—
Stores East Wal-mart
Wal-mart Stores INC
Quit Claim Deed
related
—
Aug 30, 1999
$600,000
Sunbelt Tallahassee LLC
Chow,chak Y & L W
Grant Deed
$3,800,000 · Regions Bank
—
—
Chak Y Chow
—
Deed Of Trust
related
$37,500 · Prime Credit Corp
—
—
Chak Y Chow
—
Deed Of Trust
related
$25,000 · Wari Foundation Trust
—
—
Chak Y Chow
—
Deed Of Trust
related
$14,500 · Prime Credit Corp
—
—
3219 Tallahassee LLC
—
Deed Of Trust
related
$3,366,219 · Live Oak Bkng Co
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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