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    Property profile & analytics

    3451 Bannerman Rd Tallahassee, FL 32312-7005

    • Community centers
    • 3,098 SF
    • 0.82 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-8094376
    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

    • Wendy's / Restaurant / Take-out & Catering

    Property Details for 3451 Bannerman Rd

    Year built
    2007
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.82 lot acres
    Property size
    3,098 SF
    Property type
    Community centers
    Property subtype
    Shopping centers
    APN
    14-22-28-000-005-1
    APU
    1422280000051

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Tallahassee
    County
    Leon
    State
    Florida
    Longitude
    -84.2193
    Latitude
    30.5621
    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
    $14,043
    $366,120
    $576,367
    $942,487
    -
    $366,120
    $576,367
    $942,487

    Comparable in this City

    • Value Estimation
      $3,470,000
      26,582 SF

      6265 Old Water Oak Rd, Unit 101

      MINI-MALL • 26,582 SF
      6265 Old Water Oak Rd, Tallahassee, FL 32312-4155
      View Details
    • Value Estimation by Request
      81,082 SF

      1415 Timberlane Rd

      Lifestyle centers • 81,082 SF
      1415 Timberlane Rd, Tallahassee, FL 32312
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    • Value Estimation
      $1,415,000
      11,160 SF

      2887 Kerry Frst Pkwy, Unit 1

      MINI-MALL • 11,160 SF
      2887 Kerry Frst Pkwy, Tallahassee, FL 32312-4864
      View Details
    • Value Estimation
      $3,475,000
      26,582 SF

      6267 Old Water Oak Rd Ste, Unit 101

      MINI-MALL • 26,582 SF
      6267 Old Water Oak Rd Ste, Tallahassee, FL 32312-3858
      View Details
    • Value Estimation
      $7,240,000
      46,077 SF

      6668 Thomasville Rd

      MINI-MALL • 46,077 SF
      6668 Thomasville Rd, Tallahassee, FL 32312-4878
      View Details
    • Value Estimation
      $1,255,000
      10,764 SF

      3421 Bannerman Rd Ste, Unit 101

      MINI-MALL • 10,764 SF
      3421 Bannerman Rd Ste, Tallahassee, FL 32312-7061
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,080 SF

      Retail/Office Investment Opportunity

      4,080 SqFt property with 5.15% CAP rate for sale.
      8473 Bull Headley Rd, Tallahassee, FL 32312
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    • $1,473,150
      4,209 SF

      Turnkey Restaurant, Thomasville Road

      Established Restaurant, High-Traffic Location
      6800 Thomasville Rd, Tallahassee, FL 32312
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    • $112,000
      3.01 Acres

      Residential Land in Tallahassee, FL

      3.01 acre residential land for sale in Tallahassee, Florida.
      Hickory Woods Trl, Tallahassee, FL 32312
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    • $875,000
      4.80 Acres

      Land Ready for Development

      4.8 AC parcel ideal for church or residential development.
      6275 Thomasville Rd, Tallahassee, FL 32312
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    • $531,600
      13.29 Acres

      Tallahassee Land Near Meridian Road

      13+ acres of wooded land near N Meridian Rd, Tallahassee.
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    • $379,000
      2.78 Acres

      Land Near Chiles High School

      2.78 acres of land across from Chiles High School.
      7091 Thomasville Rd, Tallahassee, FL 32312
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      8,600 SF

      REI-Anchored Shopping Center For Rent

      Shopping center with regional and national tenants in Tallahassee, Florida.
      1415 Timberlane Rd, Tallahassee, FL 32312
      View Details
    • Contact for pricing
      6,883 SF

      REI-Anchored Shopping Center Space

      Retail space available in Tallahassee's Market Street District.
      1415 Market St, Tallahassee, FL 32312
      View Details
    • Contact for pricing
      906 SF

      Retail Space in Tallahassee MSA

      Retail space available in a high-traffic Tallahassee location.
      6753 Thomasville Rd, Tallahassee, FL 32312
      View Details
    • Contact for pricing

      Retail Development at Ox Bottom Rd

      Retail pads available for ground lease or build-to-suit.
      2728 Ox Bottom Rd, Tallahassee, FL 32312
      View Details
    • Contact for pricing
      1,800 SF

      Retail Space on Thomasville Road

      Retail space with high visibility and accessibility near I-10.
      1380-1400 Village Square Blvd, Tallahassee, FL 32312
      View Details
    • $24 SF/Yr
      5,750 SF

      Northeast Tallahassee Office Suites

      Office suites for lease in Northeast Tallahassee with ample parking.
      3606 Maclay Blvd S, Tallahassee, FL 32312
      View Details

    Property Visit Statistics

    • Visits by month
      82.9k
    • Visitors by month
      40.6k
    • Avg Time on site
      14 min
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    3451 Bannerman Rd
    Tallahassee, FL 32312-7005
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    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
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