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Property profile & analytics
OFF-MARKET
Estimated value
$615,000
Turn key restaurants
3517 10th St Tallahassee, FL 32304-1007
Entity Owned
4-yr Hold
Free & Clear
Property ID
US18-4382516
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1988
Construction
FRAME
Total area
1,900 SF
Lot
1.46 ac (63,598 SF)
APN
21-29-20-219-000-0
UPID
US18-4382516
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
$610k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$735k
Blend (final)
Blend
$615k
Owner & transaction history
Proctor Holding Company INC · 4 yrs held
Proctor Holding Company INC
since 2022
Last sale
$600,000
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$700,000
+63.2%
Neighborhood: shopping center
$535,000
+24.5%
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
$650,000
ML approach
$610,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$430,000
Current use
COMMERCIAL (GENERAL)
$700,000
Change: +63% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$535,000
Change: +24% · Conversion: Difficult
RETAIL STORES
$405,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$615k
Range $554k – $677k · ±10% · vs last sale $600k (Feb 28 2022)
Last sale anchor
$600k
Feb 28 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
$324 / 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
$6,886
Tax year 2023
Assessed value
$462,140
Assessed 2023
Previous assessed
$436,757
+5.8% YoY
Effective rate
1.49%
On assessed value
Assessed land
$302,086
Assessed improvement
$160,054
Land market value
$302,086
Improvement market value
$160,054
Total market value
$462,140
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1988
Construction
FRAME
Heating
YES
Cooling
YES
Buildings
1
Stories
1
Total area
1,900 SF
Lot
1.46 ac (63,598 SF)
APN
21-29-20-219-000-0
UPID
US18-4382516
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
RESTAURANT Current
Est. value
$430,000
COMMERCIAL (GENERAL)
Est. value
$700,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$535,000
RETAIL STORES
Est. value
$405,000
RESTAURANT Current
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
1988
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Buildings
1
Lot
1.46 ac
Current owner
From public records · entity-resolved
Proctor Holding Company INC
Entity
Free & Clear · 4 yrs held
Mailing address
PO BOX 16031, TALLAHASSEE, FL 32317-6031
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 28, 2022
$600,000
Proctor Holding Company INC
Palmer Proctor
Special Warranty Deed
—
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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