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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    6615 Mahan Dr Tallahassee, FL 32308

    • Community centers
    • 44,734 SF
    • 11.59 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4515719
    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

    • Community centers

    Property Details for 6615 Mahan Dr

    Year built
    2002
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    11.59 lot acres
    Property size
    44,734 SF
    Property type
    Community centers
    APN
    12-18-26-000-001-0
    APU
    1218260000010

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $12,610,000
      Current use
      RESTAURANT
      $11,225,000
      Change: -11% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $10,555,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Tallahassee
    County
    Leon
    State
    Florida
    Longitude
    -84.1672
    Latitude
    30.4799
    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
    $70,717
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $805,000
      4,544 SF

      3101 Capital NE Cir

      MINI-MALL • 4,544 SF
      3101 Capital NE Cir, Tallahassee, FL 32308-3705
      View Details
    • Value Estimation
      $2,750,000
      22,724 SF

      2738 Capital NE Cir

      MINI-MALL • 22,724 SF
      2738 Capital NE Cir, Tallahassee, FL 32308-4108
      View Details
    • Value Estimation
      $2,350,000
      24,973 SF

      2811 Capital NE Cir

      MINI-MALL • 24,973 SF
      2811 Capital NE Cir, Tallahassee, FL 32308-3878
      View Details
    • Value Estimation
      $1,070,000
      10,800 SF

      3185 Capital Cir Ne Ste A

      MINI-MALL • 10,800 SF
      3185 Capital Cir Ne Ste A, Tallahassee, FL 32308-7798
      View Details
    • Value Estimation
      $1,030,000
      5,181 SF

      2785 Capital NE Cir, Unit 1

      MINI-MALL • 5,181 SF
      2785 Capital NE Cir, Tallahassee, FL 32308-4132
      View Details
    • Value Estimation
      $910,000
      9,240 SF

      2370 Capital NE Cir, Unit 70

      MINI-MALL • 9,240 SF
      2370 Capital NE Cir, Tallahassee, FL 32308-4358
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      18,000 SF

      Retail Space on Capital Circle

      Retail space available in Tallahassee, Florida.
      1704 Capital Cir NE, Tallahassee, FL 32308
      View Details
    • $3,800,000
      18,027 SF

      Tallahassee Retail Investment Opportunity

      18,027 SF retail center with 92% occupancy.
      1989 Capital Cir Northeast, Tallahassee, FL 32308
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    • $3,864,343
      7,128 SF

      NNN Lease Near Florida State

      NNN lease with rental increases near Florida State University.
      1719 W Tennessee St, Tallahassee, FL 32308
      View Details
    • New
      $4,250,000

      Mixed-Use Property in Evening Rose

      Class A mixed-use property with apartments and retail in Tallahassee.
      3554 Austin Davis Ave, Tallahassee, FL 32308
      View Details
    • Contact for pricing
      2,640 SF

      Retail Space in Tallahassee Center

      Retail space with high visibility and traffic count available for sale.
      1519 Capital Cir NE, Tallahassee, FL 32308
      View Details
    • Contact for pricing
      20,800 SF

      NE Tallahassee Office/Retail Spaces

      Two office/retail spaces available in a popular Tallahassee location.
      1891 Capital Cir NE, Tallahassee, FL 32308
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      2,880 SF

      Capital Circle NE Retail Center

      High-traffic retail space available.
      1519 Capital Cir, Tallahassee, FL 32308
      View Details
    • $25 SF/Yr
      20,000 SF

      Mahan Medical Office Suites

      Tallahassee medical office space available
      2459 Mahan Dr, Tallahassee, FL 32308
      View Details
    • Contact for pricing
      1,325 SF

      Retail Space in Tallahassee Center

      Retail space available in a busy, anchored shopping center.
      6615 Mahan Dr, Tallahassee, FL 32308
      View Details
    • $14 SF/Yr
      29,000 SF

      Mahan Drive Executive Office Space

      Prime Tallahassee Office Building, 29,000 SF
      1709 Mahan Dr, Tallahassee, FL 32308
      View Details
    • $40 SF/Yr
      4,126 SF

      Retail Space For Lease

      Retail space available in high-traffic area with significant growth potential.
      2320 Capital Cir NE, Tallahassee, FL 32308
      View Details
    • $15 SF/Yr
      2,066 SF

      Live Oak Plaza: Prime Tallahassee Office

      Two Executive Suites, Ample Parking, 2066 SF Total
      1891 Capital Cir, 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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