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Property profile & analytics
OFF-MARKET
Estimated value
$500,000
Distribution centers
717 Gadsden St Tallahassee, FL 32301-2001
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-3995222
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1955
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,439 SF
Lot
0.6 ac (26,136 SF)
APN
21-36-25-027-116-7
UPID
US18-3995222
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
-
Amicus Brewing Ventures Production Facility Brewery & Distillery
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$510k
CAP Approach
CAP
$530k
Comparable Approach
Comparable
$572k
Blend (final)
Blend
$500k
Owner & transaction history
Short Hike LLC · 4 yrs held
Short Hike LLC
since 2022
Last sale
$450,000
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$825,000
+34.4%
Commercial (general)
$765,000
+24.4%
Medical building
$745,000
+20.9%
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
$495,000
ML approach
$510,000
CAP Approach
CAP Return
Estimation
6%
$575,000
6.5%
$530,000
7%
$495,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$615,000
Current use
OFFICE BUILDING
$825,000
Change: +34% · Conversion: Difficult
COMMERCIAL (GENERAL)
$765,000
Change: +24% · Conversion: Difficult
MEDICAL BUILDING
$745,000
Change: +21% · Conversion: Difficult
Blend value · Realmo final
$500k
Range $450k – $550k · ±10% · vs last sale $450k (Jun 29 2022)
Last sale anchor
$450k
Jun 29 2022
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
$113 / 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
$10,916
Tax year 2023
Assessed value
$536,419
Assessed 2023
Previous assessed
$509,129
+5.4% YoY
Effective rate
2.03%
On assessed value
Assessed land
$333,234
Assessed improvement
$203,185
Land market value
$333,234
Improvement market value
$203,185
Total market value
$536,419
Applied tax rate
3.0000
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
1955
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
NONE
Buildings
2
Stories
2
Total area
4,439 SF
Lot
0.6 ac (26,136 SF)
APN
21-36-25-027-116-7
UPID
US18-3995222
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
WAREHOUSE, STORAGE Current
Est. value
$615,000
OFFICE BUILDING
Est. value
$825,000
COMMERCIAL (GENERAL)
Est. value
$765,000
MEDICAL BUILDING
Est. value
$745,000
WAREHOUSE, STORAGE Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
1955
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
2
Buildings
2
Lot
0.6 ac
Current owner
From public records · entity-resolved
Short Hike LLC
Entity
Mailing address
3370 CAPITAL CIR NE, TALLAHASSEE, FL 32308-1591
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 29, 2022
$450,000
Short Hike LLC
Waterworks Joint Venture LLC
Special Warranty Deed
$630,450 · Smartbank
Apr 10, 2019
$408,000
Waterworks Jv LLC
City Of Tallahassee
Grant Deed
—
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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