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Property profile & analytics
FOR LEASE
Community centers
3551 Blair Stone Rd Tallahassee, FL 32301
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US18-6105805
For Lease
1 / 3
$7,525,000
3551 Blair Stone Rd, Tallahassee, FL 32301
View Listing →
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
2003
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
46,161 SF
Lot
10.06 ac (438,214 SF)
APN
31-16-25- B-001-0
UPID
US18-6105805
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
-
The UPS Store Courier Service Postal Service
-
FLAEYC - Florida Association for the Education of Young Children Association / Organization
-
Record Nations Storage Facility
-
Florida Wing Factory Restaurant
-
Hungry Howie's Pizza & Subs Take-out & Catering
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.11M
Comparable Approach
Comparable
$5.00M
Blend (final)
Blend
$7.53M
Owner & transaction history
Real Sub LLC · 8 yrs held
Real Sub LLC
since 2018
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$8,785,000
6.5%
$8,110,000
7%
$7,530,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$12,500,000
Current use
INDUSTRIAL (GENERAL)
$10,890,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$7.53M
Range $6.77M – $8.28M · ±10%
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
$163 / 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
$194,628
Tax year 2023
Assessed value
$10,058,549
Assessed 2023
Previous assessed
$9,711,355
+3.6% YoY
Effective rate
1.93%
On assessed value
Assessed land
$1,314,642
Assessed improvement
$8,743,907
Land market value
$1,314,642
Improvement market value
$8,743,907
Total market value
$10,058,549
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
Community centers
Use group
MINI-MALL
Status
For Lease
Year built
2003
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Buildings
3
Stories
1
Total area
46,161 SF
Lot
10.06 ac (438,214 SF)
APN
31-16-25- B-001-0
UPID
US18-6105805
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$12.5M
INDUSTRIAL (GENERAL)
Est. value
$10.9M
NEIGHBORHOOD: SHOPPING CENTER Current
INDUSTRIAL (GENERAL)
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
2003
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Buildings
3
Lot
10.06 ac
Current owner
From public records · entity-resolved
Real Sub LLC
Entity
Mailing address
PO BOX 32018, LAKELAND, FL 33802-2018
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 19, 2018
—
Real Sub LLC
Ddrm Southwood Plantation LLC
Grant Deed
related
—
Jul 3, 2017
—
Ddrm Southwood Plantation LLC
—
Deed
related
$213,170 · Citigroup Global Markets Rlty
Jul 3, 2007
—
Ddrm Southwood Plantation LLC
Inland Southeast Southwood LLC
Special Warranty Deed
$885,000,000 · Wachovia Bank NA
—
—
Ddrm Southwood Plantation LLC
—
Deed Of Trust
related
$213,170 · Citigroup Global Markets Rlty
—
—
Inland Southeast Southwood LLC
—
Deed Of Trust
related
$4,994,000 · * Other Institutional Lenders
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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