3692 Coolidge CtTallahassee, FL 32311

Property Details for 3692 Coolidge Ct

Year built

2007

Construction

STEEL FRAME

Lot size

1.87 AC

Property size (Sq ft)

29,328 SF

Property type

Office properties

Property subtype

Office buildings

APN

31-16-26- C-010-0

APU

311626C0100

Description

This exceptional Class A office building, located at 3692 Coolidge Ct in Tallahassee, Florida's desirable Southwood community, presents a compelling investment opportunity. The 29,328 square foot, two-story building sits on a 2.82-acre lot and boasts a strong tenant, The League of Southeastern Credit Unions (LSCU), occupying the entire second floor (14,664 sq ft) under a lease extending through December 2026. LSCU's lease includes a 50% reimbursement of utility costs and provision of a facilities manager. Currently, 8,373 square feet on the first floor is vacant and is being marketed at $21 per square foot on a full-service gross lease. Built in 2007, this all-brick building features a multi-tenant occupancy of 62.5% and generates a Net Operating Income (NOI) of $141,809. The property's APN is 31-16-26-C-0100 & 31-16-26-C-0110, and its permitted zoning is Southwood PUD. This property is ideal for owner-occupants seeking high-quality space or investors looking for a value-add opportunity in a prime Tallahassee location. The building's commercial-grade construction and established tenant base make it a highly attractive investment. The asking price is $3,500,000.

• CAP approach

  CAP return

  Valuation

  6%

  $5,180,332

  6.5%

  $4,781,846

  7%

  $4,440,285

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,084,928

  Geo Method

  $2,084,928

• Alternative Use

  Use

  Valuation

  Residential

  $5,929,488

  Hospitality

  $5,431,380

  Educational

  $4,518,844

  Medical

  $4,674,254

  Retail

  $7,029,312

Location Insight

City

Tallahassee

County

Leon

State

Florida

Latitude

30.3993

Longitude

-84.2336

CBSA code

45220

CBSA name

TALLAHASSEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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