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    3926 Mahan Dr Tallahassee, FL 32308
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    Property profile & analytics

    3926 Mahan Dr, Tallahassee, FL 32308

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    • Commercial land
    Off-Market
    Property ID
    US18-3238326
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for 3926 Mahan Dr

    Property type
    Commercial land
    Property subtype
    Commercial real estate

    Description

    1.98 acres of commercial property for sale on the Mahan Corridor in NE Tallahassee. Surrounded by national and local retailers including Walmart, Costco, McDonalds, CMX Cinemas Fallschase, Bass Pro Shops and many others. TLG also has the 3.45 acres listed for sale offering a total of 5.43 acres. -Traffic counts exceed 20,000 cars per day -Property is across the street from a multi-family complex with over 300 units -Property is less than 10 minutes from the I-10 Interchange

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Tallahassee
    County
    Leon
    State
    Florida
    Longitude
    -84.2116428
    Latitude
    30.4668234

    Comparable in this City

    • Contact for pricing

      Mahan Drive Commercial Land Tract

      Large commercial and mixed-use development land on Mahan Drive.
      3713-3665 Mahan Dr, Tallahassee, FL 32308
      View Details
    • $253,500
      0.33 Acres

      Tallahassee Vacant Lot For Sale

      Prime vacant lot near hospital with flexible zoning in Tallahassee.
      1912 Miccosukee Rd, Tallahassee, FL 32308
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    • $1,500,000

      Two-Story Office Buildings on 1.33 Acres

      Two office buildings on 1.33 acres suitable for redevelopment.
      541-545 E Tennessee St, Tallahassee, FL 32308
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    • $249,000
      0.29 Acres

      PRIME Vacant Lot Opportunity

      Vacant lot near hospital with flexible zoning and development potential.
      1916 Miccosukee Rd, Tallahassee, FL 32308
      View Details
    • $253,500
      0.33 Acres

      Land For Sale Tallahassee

      Land zoned for office or residential use in Tallahassee, Florida.
      1912 Miccosukee Rd, Tallahassee, FL 32308
      View Details

    Similar Nearby for Sale

    • $21,000,000
      39.39 Acres

      Tallahassee Land For Sale

      39.39 acre commercial land parcel in Tallahassee, Florida.
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    • $249,000
      0.29 Acres

      Tallahassee Land For Sale

      Land in a prime location, suitable for residential or office.
      1916 Miccosukee Rd, Tallahassee, FL 32308
      View Details
    • $249,000
      0.29 Acres

      PRIME Vacant Lot Opportunity

      Vacant lot near hospital with flexible zoning and development potential.
      1916 Miccosukee Rd, Tallahassee, FL 32308
      View Details
    • $253,500
      0.33 Acres

      Land For Sale Tallahassee

      Land zoned for office or residential use in Tallahassee, Florida.
      1912 Miccosukee Rd, Tallahassee, FL 32308
      View Details
    • Contact for pricing

      Mahan Drive Commercial Land Tract

      Large commercial and mixed-use development land on Mahan Drive.
      3713-3665 Mahan Dr, Tallahassee, FL 32308
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr

      Spacious Office with High-End Finishes

      Well-located office space with above-average finishes and ample amenities.
      1983 Centre Pointe Blvd, Tallahassee, FL 32308
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    • $11 SF/Yr

      Warehouse/Office Space on Capital Circle

      Warehouse/office space for lease with excellent frontage on Capital Circle.
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    • $2,200 /Mo
      4,792 SF

      Office/Medical Space For Lease

      Office/medical space available for lease in Tallahassee, Florida.
      1706 Riggins Rd, Tallahassee, FL 32308
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    • New
      $192,000
      40,511 SF

      Versatile Commercial Space on Centerville

      Move-in ready 11,395 sq ft space suitable for various uses.
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    • $17 SF/Yr

      Northeast Tallahassee Office Space

      2,820 SF office space near I-10 and Thomasville Road.
      1962 Village Green Way, Tallahassee, FL 32308
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    • Contact for pricing
      3,653 SF

      Retail Space on Mahan Drive

      Retail space with high traffic and prime location.
      1350 Mahan Dr, Tallahassee, FL 32308
      View Details
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    Tallahassee, FL 32308
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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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    3926 Mahan Dr, Tallahassee, FL, 32308
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