Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    507 Okaloosa St, Unit 1 Tallahassee, FL 32310-5424

    • Retail space
    • 945 SF
    • 0.36 lot acres
    OFF-MARKET
    Last Sale
    Feb 27, 2020
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3822349
    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

    • Kopykat Copy Center / (Bike/Boat/Book/etc) Store / Printing Service

    Property Details for 507 Okaloosa St

    Year built
    1968
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.36 lot acres
    Property size
    945 SF
    Property type
    Retail space
    APN
    41-01-56- A-001-0
    APU
    410156A0010

    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
    -84.29
    Latitude
    30.4232
    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
    $2,045
    $24,530
    $85,225
    $109,755
    -
    $24,530
    $85,225
    $109,755

    Comparable in this City

    • Value Estimation by Request
      640 SF

      533 Kissimmee St

      RETAIL STORES (PERSONAL SERVICES) • 640 SF
      533 Kissimmee St, Tallahassee, FL 32310-5408
      View Details
    • Value Estimation by Request
      432 SF

      712 Eugenia St

      RETAIL STORES (PERSONAL SERVICES) • 432 SF
      712 Eugenia St, Tallahassee, FL 32310-4820
      View Details
    • Value Estimation by Request
      1,236 SF

      614 Eugenia St

      RETAIL STORES (PERSONAL SERVICES) • 1,236 SF
      614 Eugenia St, Tallahassee, FL 32310-4818
      View Details
    • Value Estimation by Request
      1,552 SF

      2021 Holton St

      RETAIL STORES (PERSONAL SERVICES) • 1,552 SF
      2021 Holton St, Tallahassee, FL 32310-5859
      View Details
    • Value Estimation by Request
      1,344 SF

      802 Orange W Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,344 SF
      802 Orange W Ave, Tallahassee, FL 32310-6123
      View Details
    • Value Estimation by Request
      3,354 SF

      7115 Blountstown Hwy

      RETAIL STORES (PERSONAL SERVICES) • 3,354 SF
      7115 Blountstown Hwy, Tallahassee, FL 32310-7099
      View Details

    Similar Nearby for Sale

    • $225,000
      0.19 Acres

      Tallahassee Retail Opportunity For Sale

      Retail property near Bragg Stadium and Alfred Lawson Multipurpose Center.
      522 Kissimmee St, Tallahassee, FL 32310
      View Details
    • Contact for pricing
      35,807 SF

      CollegeTown Retail Leasing Opportunity

      New retail spaces in Tallahassee's thriving CollegeTown district.
      825 Railroad Ave, Tallahassee, FL 32310
      View Details
    • Contact for pricing
      0.89 Acres

      Tallahassee Commercial Land Duo

      Prime airport area lots, PUD zoning.
      4328 Airport Commerce Blvd, Tallahassee, FL 32310
      View Details
    • $30,000
      1.47 Acres

      Secluded Wooded Lot in Tallahassee

      1.47-acre wooded lot offers privacy and building flexibility.
      Friar Tuck Rd, Tallahassee, FL 32310
      View Details
    • $45,000
      1.00 Acre

      Residential Land in Parramore Shores

      One-acre homesite in desirable Parramore Shores community near Lake Talquin.
      Parramore Shr Lot 6 Rd, Tallahassee, FL 32310
      View Details
    • Contact for pricing
      0.50 Acres

      Wooded Lot Overlooking Lake Talquin

      Wooded corner lot near Lake Talquin, suitable for homes.
      2 5&6, Tallahassee, FL 32310
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      1,245 SF

      Retail Space in Railroad Square

      Retail space in the Railroad Square Arts District for rent.
      1007-1015 Commercial Dr, Tallahassee, FL 32310
      View Details
    • $2,500,000
      8,451 SF

      Cold Storage Warehouse with Office

      Climate-controlled warehouse with office in Airport Industrial Park.
      4447 Entrepot Blvd, Tallahassee, FL 32310
      View Details
    • $7 SF/Yr
      9,000 SF

      Warehouse Spaces Available For Rent

      Warehouse spaces available for rent with dock high access.
      2130 Lake Bradford Rd, Tallahassee, FL 32310
      View Details
    • $3,200 /Mo
      28,314 SF

      Tallahassee Warehouse Space Available

      6,000 sq ft warehouse space for lease in Tallahassee.
      1701 Mills St, Tallahassee, FL 32310
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    507 Okaloosa St, Unit 1
    Tallahassee, FL 32310-5424
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.