2011 Adams StTallahassee, FL 32301

Property Details for 2011 Adams St

Year built

1939

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.82 AC

Property size (Sq ft)

7,168 SF

Property type

Office properties

Property subtype

Office buildings

APN

41-01-50- N-001-0

APU

410150N0010

Description

This exceptional 0.82-acre property at 2011 S Adams Street in Tallahassee, Florida, presents a compelling mixed-use redevelopment opportunity within the vibrant SOMO District. Currently featuring a partially renovated existing building, this site offers significant potential for a variety of future uses, thanks to its CU-45 zoning designation. The property boasts excellent street frontage along South Adams Street, providing high visibility and accessibility. Convenient ingress and egress points are available from both Kestner Street to the south and Perkins Street to the north, ensuring ease of access for both customers and employees. The asking price is $800,000. This is an ideal investment for developers seeking a strategic location in a rapidly growing area with a flexible zoning classification that allows for creative and diverse project plans. The existing structure provides a solid foundation for a renovation or adaptive reuse project, minimizing initial development costs and accelerating the timeline to occupancy. The property's prominent location and versatile zoning make it a highly attractive proposition for a range of commercial ventures. Serious inquiries are encouraged to explore the full potential of this unique redevelopment opportunity. The property is located in Tallahassee, Florida.

• CAP approach

  CAP return

  Valuation

  6%

  $1,483,817

  6.5%

  $1,369,677

  7%

  $1,271,843

• Comparable approach

  Method

  Valuation

  Relative Method

  $509,573

  Geo Method

  $509,573

• Alternative Use

  Use

  Valuation

  Residential

  $1,698,400

  Hospitality

  $1,555,725

  Educational

  $1,294,345

  Medical

  $1,338,859

  Retail

  $2,013,425

Location Insight

City

Tallahassee

County

Leon

State

Florida

Latitude

30.4219

Longitude

-84.2816

CBSA code

45220

CBSA name

TALLAHASSEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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