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Property profile & analytics
OFF-MARKET
Estimated value
$1,900,000
Distribution centers
706 Gaines St Tallahassee, FL 32304-4310
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US18-4451435
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1929
Construction
WOOD
Total area
8,184 SF
Lot
0.35 ac (15,246 SF)
APN
21-35-20-431-000-0
UPID
US18-4451435
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
$1.90M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.90M
Owner & transaction history
Mdl Tallahassee Owner LLC · 2 yrs held
Mdl Tallahassee Owner LLC
since 2024
Last sale
$1.9M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.0M
+311.4%
Neighborhood: shopping center
$2.3M
+213.7%
Industrial (general)
$1.9M
+162.6%
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
$1,900,000
ML approach
$1,900,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$3,025,000
Change: +311% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,305,000
Change: +214% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$1,930,000
Change: +163% · Conversion: Easy
RESTAURANT
$1,855,000
Change: +152% · Conversion: Difficult
RETAIL STORES
$1,745,000
Change: +137% · Conversion: Moderate
OFFICE BUILDING
$1,385,000
Change: +88% · Conversion: Difficult
MEDICAL BUILDING
$1,370,000
Change: +86% · Conversion: Difficult
Blend value · Realmo final
$1.90M
Range $1.71M – $2.09M · ±10% · vs last sale $1.90M (Mar 13 2024)
Last sale anchor
$1.90M
Mar 13 2024
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
$232 / 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
$8,125
Tax year 2023
Assessed value
$456,584
Assessed 2023
Previous assessed
$456,584
+0.0% YoY
Effective rate
1.78%
On assessed value
Assessed land
$304,920
Assessed improvement
$151,664
Land market value
$304,920
Improvement market value
$151,664
Total market value
$456,584
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1929
Construction
WOOD
Heating
NONE
Cooling
NONE
Buildings
1
Stories
1
Total area
8,184 SF
Lot
0.35 ac (15,246 SF)
APN
21-35-20-431-000-0
UPID
US18-4451435
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
COMMERCIAL (GENERAL)
Est. value
$3.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.3M
INDUSTRIAL (GENERAL)
Est. value
$1.9M
RESTAURANT
Est. value
$1.9M
RETAIL STORES
Est. value
$1.7M
OFFICE BUILDING
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.4M
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
RESTAURANT
RETAIL STORES
OFFICE BUILDING
MEDICAL BUILDING
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
1929
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
1
Buildings
1
Lot
0.35 ac
Current owner
From public records · entity-resolved
Mdl Tallahassee Owner LLC
Entity
Mailing address
461 PARK AVE S FL #4, NEW YORK, NY 10016-7579
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 13, 2024
$1,900,000
Mdl Tallahassee Owner LLC
Jay U Scott
Warranty Deed
—
Nov 13, 2019
$100
Jeni B Scott
Jay U Scott
Correction Deed
related
—
Jul 24, 2019
$100
Jeni B Scott
Scott,jay U
Warranty Deed
related
—
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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