1709 Hermitage BlvdTallahassee, FL 32308

Property Details for 1709 Hermitage Blvd

Year built

2005

Construction

FRAME

Lot size

2.52 AC

Property size (Sq ft)

31,114 SF

Property type

Office buildings

APN

11-17-20-006-002-0

APU

1117200060020

Description

This exceptional Class A office building, situated in the desirable NE Tallahassee submarket, offers two available suites totaling 31,114 square feet. The property, constructed in 2005, boasts a tranquil park-like setting within the Hermitage Office Park, conveniently located on Hermitage Boulevard, connecting Thomasville Road and Capital Circle NE. The two-story brick building features an elevator and ample covered parking with a ratio of 4 spaces per 1,000 square feet. The first-floor suite, measuring 2,581 square feet, will be available in January 2025 with a negotiable rate. The second-floor suite, encompassing 15,557 square feet, is available in Spring 2025, with a current asking rate of $21 per square foot, NNN. Both suites offer a professional image, ideal for prestigious firms. Features include large private offices with windows, a spacious conference room, a lobby, secretary and paralegal offices, a library, break room, copy room, and private restrooms for men and women. The property sits on a 2.52-acre lot and is zoned PUD (Planned Unit Development). The minimum divisible space is 15,557 square feet, with a maximum contiguous space of the same size. The APN is 1117200060020. This is a rare opportunity to secure high-quality office space in a prime location.

• CAP approach

  CAP return

  Valuation

  6%

  $8,273,370

  6.5%

  $7,636,960

  7%

  $7,091,460

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,211,890

  Geo Method

  $2,211,890

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $14,192,700

  Retail / Commercial

  $7,442,930

  Mixed-Use / Specialty

  $7,546,390

  Hospitality / Lodging

  $5,705,800

  Institutional / Educational

  $7,891,670

  Residential Income

  $9,233,250

  Multifamily

  $10,353,200

  Automotive / Energy

  $6,764,280

  Parking / Income-Based Land

  $2,205,840

  Restaurant / Food Service

  $4,202,380

  Healthcare / Senior Housing

  $7,605,370

Location Insight

City

Tallahassee

County

Leon

State

Florida

Latitude

30.4872

Longitude

-84.246

CBSA code

45220

CBSA name

TALLAHASSEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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