118 Monroe StTallahassee, FL 32301

  • Office properties
  • 33,485 SF
For Sale

Property Details for 118 Monroe St

Year built
1960
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Lot size
0.22 AC
Property size (Sq ft)
33,485 SF
Property type
Office properties
Property subtype
Office buildings
APN
21-36-45-008-000-0
APU
2136450080000

Description

This historic building, formerly the Florida Theatre, offers over 23,000 square feet of office and retail space for lease in the heart of downtown Tallahassee. Two street-level suites are perfect for small retail businesses, while the upper floors boast a stunning atrium filled with natural light. Available space ranges from individual offices to larger suites, totaling over 23,000 square feet across four floors. The building is conveniently located near the State Capitol, Florida State University, and major highways (US Hwy 27 and Hwy 90), with excellent visibility due to high vehicle traffic on Monroe Street (over 30,000 VPD). On-site parking is available with 15 surface spaces and 15 covered spaces. The property is zoned CC - CENTRAL CORE and features multiple tenancy options. Two spaces are currently available, ranging from 5,807 to 7,907 square feet. This is an exceptional opportunity to secure prime office space in a vibrant and highly accessible location. The building's unique history and modern amenities combine to create a truly distinctive workspace. The property's Leon County APN is 21-36-45-008-0000.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $6,931,585
    6.5%
    $6,398,386
    7%
    $5,941,358
  • Comparable approach

    Method
    Valuation
    Relative Method
    $2,380,449
    Geo Method
    $2,380,449
  • Alternative Use

    Use
    Valuation
    Residential
    $7,933,999
    Hospitality
    $7,267,500
    Educational
    $6,046,475
    Medical
    $6,254,422
    Retail
    $9,405,628
118 Monroe St, Tallahassee, Florida

Location Insight

City
Tallahassee
County
Leon
State
Florida
Latitude
30.4429
Longitude
-84.2811
CBSA code
45220
CBSA name
TALLAHASSEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$34,199
$603,729
$1,076,861
$1,680,590
-
$603,729
$1,076,861
$1,680,590

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