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Property profile & analytics
OFF-MARKET
Estimated value
$900,000
Distribution centers
942 Capital NW Cir Tallahassee, FL 32304
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-3373189
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1975
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
9,300 SF
Lot
18.68 ac (813,701 SF)
APN
21-32-20-209-000-0
UPID
US18-3373189
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
-
The Appliance Wholesaler Electronics & Wireless Store Discount Store
-
Storage King USA Storage Facility
-
Stepping Stones Coaching and Consulting Training Center Tutoring Service
-
Horizon Robotix Film Production Television Studio
-
TIASA LLC Security Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$735k
CAP Approach
CAP
$1.12M
Comparable Approach
Comparable
$1.14M
Blend (final)
Blend
$900k
Owner & transaction history
Leon County · 2 yrs held
Leon County
since 2024
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$735,000
CAP Approach
CAP Return
Estimation
6%
$1,210,000
6.5%
$1,115,000
7%
$1,035,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$835,000
Current use
Blend value · Realmo final
$900k
Range $810k – $990k · ±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
$97 / 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
$76,983
Tax year 2023
Assessed value
$5,166,838
Assessed 2023
Previous assessed
$5,166,838
+0.0% YoY
Effective rate
1.49%
On assessed value
Assessed land
$186,800
Assessed improvement
$4,980,038
Land market value
$186,800
Improvement market value
$4,980,038
Total market value
$5,166,838
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
1975
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
NONE
Buildings
16
Stories
1
Total area
9,300 SF
Lot
18.68 ac (813,701 SF)
APN
21-32-20-209-000-0
UPID
US18-3373189
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
$835,000
WAREHOUSE, STORAGE Current
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
1975
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Buildings
16
Lot
18.68 ac
Current owner
From public records · entity-resolved
Leon County
Entity
Mailing address
301 S MONROE ST, TALLAHASSEE, FL 32301-1861
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
Feb 23, 2024
—
Leon County
Ftpa Storage Tallahassee I LLC
Special Warranty Deed
—
Oct 1, 2019
—
Ftpa Storage Dundee LLC
—
Grant Deed
related
$150,000,000 · Bank Of America
Dec 4, 2013
$5,000,000
Ftpa Storage Tallahassee I LLC
Sovran Acquisition LP
Grant Deed
—
—
—
Ftpa Storage Miami LLC
—
Deed Of Trust
related
$12,500,000 · Bank United
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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