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Property profile & analytics
OFF-MARKET
Estimated value
$7,085,000
Hotels
826 Gaines St Tallahassee, FL 32304-4312
Entity Owned
1-yr Hold
Free & Clear
Property ID
US18-8277004
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
2020
Construction
STEEL FRAME
Total area
94,647 SF
Lot
0.64 ac (27,878 SF)
APN
21-35-20-428-002-0
UPID
US18-8277004
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
-
R&R Eatery Restaurant
-
Hotel Indigo Tallahassee - Collegetown, an IHG Hotel Hotel & Motel
-
Terror of Tallahassee Arcade & Gaming Center Family Recreation Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$6.23M
Comparable Approach
Comparable
$7.94M
Blend (final)
Blend
$7.09M
Owner & transaction history
The Railyard Hotel LLC · 1 yrs held
The Railyard Hotel LLC
since 2024
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$11.1M
+158.0%
Neighborhood: shopping center
$9.3M
+115.9%
Retail stores
$8.7M
+102.9%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$6,745,000
6.5%
$6,225,000
7%
$5,780,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$4,290,000
Current use
RESTAURANT
$11,065,000
Change: +158% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$9,255,000
Change: +116% · Conversion: Difficult
RETAIL STORES
$8,700,000
Change: +103% · Conversion: Difficult
MEDICAL BUILDING
$8,405,000
Change: +96% · Conversion: Difficult
Blend value · Realmo final
$7.09M
Range $6.38M – $7.79M · ±10%
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
$75 / 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
$250,733
Tax year 2023
Assessed value
$16,644,642
Assessed 2023
Previous assessed
$12,163,899
+36.8% YoY
Effective rate
1.51%
On assessed value
Assessed land
$1,644,500
Assessed improvement
$15,000,142
Land market value
$1,644,500
Improvement market value
$15,000,142
Total market value
$16,644,642
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
2020
Construction
STEEL FRAME
Heating
YES
Cooling
YES
Buildings
1
Stories
7
Units
143
Total area
94,647 SF
Lot
0.64 ac (27,878 SF)
APN
21-35-20-428-002-0
UPID
US18-8277004
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
HOTEL/MOTEL Current
Est. value
$4.3M
RESTAURANT
Est. value
$11.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$9.3M
RETAIL STORES
Est. value
$8.7M
MEDICAL BUILDING
Est. value
$8.4M
HOTEL/MOTEL Current
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
2020
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
7
Buildings
1
Units
143
Lot
0.64 ac
Current owner
From public records · entity-resolved
The Railyard Hotel LLC
Entity
Free & Clear · 1 yrs held
Mailing address
421 N ANDREWS AVE, FORT LAUDERDALE, FL 33301-3213
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 13, 2024
$2,420,000
The Railyard Hotel LLC
The Railyard At Collegetown LLC
Special Warranty Deed
—
Aug 28, 2018
$3,210,900
The Railyard Hotel LLC
The Railyard St Collegetown LLC
Special Warranty Deed
—
Dec 27, 2013
$2,200,000
Railyard At Collegetown LLC
Webb,brian S
Warranty Deed
—
Jul 20, 2010
$65,000
Webb,brian S
Osiecki,stacey L
Quit Claim Deed
related
$145,375 · Farmers & Merchants Nat'l Bk
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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