1709 Mahan DrTallahassee, FL 32308

Property Details for 1709 Mahan Dr

Year built

1986

Construction

FRAME

Lot size

2.05 AC

Property size (Sq ft)

29,576 SF

Property type

Office properties

Property subtype

Office buildings

APN

11-29-20-620-000-0

APU

1129206200000

Description

This exceptional 29,000-square-foot executive office building, located at 1709 Mahan Drive in Tallahassee, Florida, presents a unique investment opportunity. Built in 1986 and situated on a 2.05-acre lot, the property is zoned C-2 - OR-2, allowing for diverse commercial uses beyond its current office configuration. The building, formerly a government facility, is currently entirely vacant and offers significant flexibility. Divided into four sections, it features approximately 80 offices, four kitchens, well-appointed common areas, and private entrances to each section. The impressive layout allows for single-tenant occupancy or the potential to lease individual suites. Its strategic location near Governor's Square, numerous restaurants and national retailers, Downtown Tallahassee, Florida State University, and Florida A&M University ensures high visibility and accessibility. The property is priced well below replacement cost, and seller financing is available. This presents a compelling opportunity for owner-occupancy or a lucrative investment in a thriving Tallahassee market. The building's size and zoning provide ample room for expansion or adaptation to suit a variety of business needs. The property's substantial size, coupled with its convenient location and flexible layout, makes it an ideal choice for a wide range of commercial enterprises. This is a rare chance to acquire a significant commercial property in a desirable area of Tallahassee.

• CAP approach

  CAP return

  Valuation

  6%

  $6,939,186

  6.5%

  $6,405,402

  7%

  $5,947,874

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,102,558

  Geo Method

  $2,102,558

• Alternative Use

  Use

  Valuation

  Residential

  $7,942,700

  Hospitality

  $7,275,470

  Educational

  $6,053,106

  Medical

  $6,261,281

  Retail

  $9,415,942

Location Insight

City

Tallahassee

County

Leon

State

Florida

Latitude

30.4494

Longitude

-84.2556

CBSA code

45220

CBSA name

TALLAHASSEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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