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    3475 Thomasville Rd Tallahassee, FL 32309-3425
    Property profile & analytics

    3475 Thomasville Rd, Tallahassee, FL 32309-3425

    View on Map
    • Community centers
    • 3,450 SF
    • 8.66 lot acres
    Off-Market
    Property ID
    US18-2004906
    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.
    Value Estimations
    $605,000
    Show details
    Cap Rate Potential
    6.5%
    Community centers
    Location Intelligence

    Current Use by Public Records

    • Community centers

    Property Details for 3475 Thomasville Rd

    Year built
    1980
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    8.66 lot acres
    Property type
    Community centers
    Property subtype
    Shopping centers
    APN
    11-08-53- A-002-0
    APU
    110853A0020

    Description

    Invest in a prime retail space within the Killearn Shopping Center, a bustling 129,306 square foot power center located in Tallahassee, Florida's affluent northwest retail district. This multi-tenant shopping center boasts a strong lineup of national retailers, including a top-performing Hobby Lobby (per Creditntell data), Five Guys, CVS, and Firehouse Subs, ensuring high foot traffic and visibility. The available space totals 3,159 square feet, presenting a unique opportunity for expansion or new business establishment. Strategically situated just off Interstate 10, the center enjoys exceptional accessibility, positioned midway between Jacksonville and Pensacola along the Florida Panhandle. The surrounding trade area demonstrates robust retail sales performance for major brands such as Trader Joe's, TJ Maxx, Total Wine, Publix, Starbucks, Chipotle, Fresh Market, and Blaze Pizza, indicating a strong and affluent consumer base. Tallahassee, the capital of Florida and Leon County's largest city, boasts a population of 202,172 residents, reflecting a 7.11% growth over the past decade. This dynamic market and established tenant mix make this retail space an attractive investment opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $605,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $655,000
      6.5%
      $605,000
      7%
      $565,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $605,000
      Market price range: $103k - $605k

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

    Location Insight

    • Map
    • Local Demand
    City
    Tallahassee
    County
    Leon
    State
    Florida
    Longitude
    -84.2481
    Latitude
    30.5067
    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
    $279,243
    $2,206,790
    $12,224,757
    $14,431,547
    -
    $2,206,790
    $12,224,757
    $14,431,547

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      3440 Thomasville Rd

      MINI-MALL
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      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Restaurant For Sale

      6,942 sq ft restaurant in northeast retail corridor.
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      Tallahassee Land in Canopy Farms

      3-acre lot in Canopy Farms, ready for building.
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      Tallahassee Land Near Horseshoe Plantation

      24-acre parcel near conservation area, suitable for estate.
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    • Contact for pricing
      1,491 SF

      Northeast Office Near Thomasville Rd

      Office space for sale in a convenient Northeast location.
      3846 Killearn Center Blvd, Tallahassee, FL 32309
      View Details

    Similar Nearby for Lease

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      Retail space available for lease with drive-thru.
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      1,320 SF

      Retail Space on Thomasville Road

      Retail space with high visibility and accessibility near I-10.
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    • $35 SF/Yr
      3,700 SF

      High-Visibility Commercial Space Available

      Adaptable commercial space with drive-thru, ideal for retail or office.
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    3475 Thomasville Rd
    Tallahassee, FL 32309-3425
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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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    3475 Thomasville Rd, Tallahassee, FL, 32309
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