1203 Governors Square BlvdTallahassee, FL 32301
- Office properties
- 58,176 SF
Property Details for 1203 Governors Square Blvd
- Year built
- 1987
- Construction
- FRAME
- Lot size
- 2.56 AC
- Property size (Sq ft)
- 58,176 SF
- Property type
- Office properties
- Property subtype
- Office buildings
- APN
- 11-31-65- E-001-0
- APU
- 113165E0010
Description
Magnolia Centre I, located at 1203 Governors Square Blvd in Tallahassee, Florida (zip code 32301), offers a prime opportunity for businesses seeking executive or medical office space. This Class B building boasts a total of 58,176 square feet, with flexible floor plans accommodating various needs. Currently, 10,979 square feet of space is available, divisible into units as small as 1,872 square feet, with a maximum contiguous space of 3,480 square feet. Four spaces are currently available, ranging from 1,576 to 6,655 square feet. The building features two elevators and ample parking with a 5:1000 ratio. Each floor comprises 9,700 square feet, allowing for customizable layouts, from open floor plans to more traditional office setups. The building's location offers convenient access to key state government agencies, including Lottery Headquarters and FL-DOT Headquarters, while providing competitive lease terms. This downtown Tallahassee location offers significant value compared to typical market rates. The property is suitable for multiple tenants and caters to various business types, including executive offices, medical offices, back offices, professional services, government entities, and institutional users.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $12,042,762
- 6.5%
- $11,116,396
- 7%
- $10,322,368
-
Comparable approach
- Method
- Valuation
- Relative Method
- $4,135,732
- Geo Method
- $4,135,732
-
Alternative Use
- Use
- Valuation
- Residential
- $13,784,331
- Hospitality
- $12,626,373
- Educational
- $10,504,994
- Medical
- $10,866,277
- Retail
- $16,341,102
Location Insight
- City
- Tallahassee
- County
- Leon
- State
- Florida
- Latitude
- 30.4392
- Longitude
- -84.264
- CBSA code
- 45220
- CBSA name
- TALLAHASSEE, FL METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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