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Property profile & analytics
OFF-MARKET
Estimated value
$1,200,000
Outlet malls
932 Tharpe St Tallahassee, FL 32303-5357
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US18-7440668
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
8,190 SF
Lot
0.6 ac (26,136 SF)
APN
21-23-20-409-000-0
UPID
US18-7440668
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
-
Family Dollar Discount Store
-
Primo Water Refill Big Box & Wholesale Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.40M
CAP Approach
CAP
$1.23M
Comparable Approach
Comparable
$1.07M
Blend (final)
Blend
$1.20M
Owner & transaction history
Buffalo Complex LLC · 5 yrs held
Buffalo Complex LLC
since 2021
Last sale
$1.2M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$1.9M
+10.8%
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
$1,360,000
ML approach
$1,400,000
CAP Approach
CAP Return
Estimation
6%
$1,325,000
6.5%
$1,225,000
7%
$1,135,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,745,000
Current use
INDUSTRIAL (GENERAL)
$1,930,000
Change: +11% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,460,000
Change: -16% · Conversion: Easy
RESTAURANT
$1,440,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$1.20M
Range $1.08M – $1.32M · ±10% · vs last sale $1.18M (Apr 19 2021)
Last sale anchor
$1.18M
Apr 19 2021
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
$147 / 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
$11,809
Tax year 2023
Assessed value
$619,273
Assessed 2023
Previous assessed
$551,613
+12.3% YoY
Effective rate
1.91%
On assessed value
Assessed land
$124,146
Assessed improvement
$495,127
Land market value
$124,146
Improvement market value
$495,127
Total market value
$619,273
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Buildings
1
Stories
1
Total area
8,190 SF
Lot
0.6 ac (26,136 SF)
APN
21-23-20-409-000-0
UPID
US18-7440668
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
RETAIL STORES Current
Est. value
$1.7M
INDUSTRIAL (GENERAL)
Est. value
$1.9M
COMMERCIAL (GENERAL)
Est. value
$1.5M
RESTAURANT
Est. value
$1.4M
RETAIL STORES Current
INDUSTRIAL (GENERAL)
COMMERCIAL (GENERAL)
RESTAURANT
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
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Buildings
1
Lot
0.6 ac
Current owner
From public records · entity-resolved
Buffalo Complex LLC
Entity
Mailing address
5118 W POE AVE, TAMPA, FL 33629-7527
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 19, 2021
$1,175,000
Buffalo Complex LLC
Rpj Properties LLC
Warranty Deed
—
Oct 19, 2016
—
Rpj Properties LLC
—
Deed
related
$683,000 · Peoplessouth Bank
Mar 7, 2011
$525,000
Rpj Properties LLC
932 West Tharpe Street LLC
Grant Deed
$775,000 · Envision Cu
Jun 26, 2007
$680,000
932 West Tharpe Street LLC
Chameleon Ents LLC
Warranty Deed
$580,000 · Valley Bank
Apr 30, 2004
$500,000
Chameleon Enterprises LLC
Discount Auto Parts INC
Grant Deed
$325,000 · Eastern Savings Bank
—
—
932 West Tharpe Street LLC
—
Deed Of Trust
related
$633,520 · Valley Bank
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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