1661 Phillips RdTallahassee, FL 32308

Property Details for 1661 Phillips Rd

Year built

1978

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

3.00 AC

Property size (Sq ft)

13,488 SF

Property type

Healthcare properties

Property subtype

Medical offices

APN

11-28-20-202-000-0

APU

1128202020000

Description

This exceptional 13,448-square-foot office building, situated on a spacious 3-acre lot in Tallahassee, Florida, presents a unique investment opportunity. Currently vacant, the property offers significant potential for a variety of uses. Previously utilized as a surgery center, the building boasts numerous features ideal for continued medical use, including multiple operating rooms, recovery areas, private offices, and ample support spaces. These spaces include dedicated conference rooms, staff locker rooms, a medical records room, and a business office. The property's layout is highly adaptable, making it suitable for repurposing to meet diverse business needs. The building is located at 1661 Phillips Road, Tallahassee, FL 32308, within Leon County. The property is zoned Office Residential (OR-3) and includes 66 parking spaces, ensuring convenient access for staff and clients. With its substantial size, prime location, and versatile design, this property represents a compelling opportunity for businesses seeking a well-equipped and strategically located office space in a thriving Florida market. The single-tenant occupancy allows for complete control and customization. This is a rare opportunity to acquire a substantial, well-maintained building in a desirable area.

• CAP approach

  CAP return

  Valuation

  6%

  $3,164,584

  6.5%

  $2,921,155

  7%

  $2,712,501

• Comparable approach

  Method

  Valuation

  Relative Method

  $958,862

  Geo Method

  $958,862

• Alternative Use

  Use

  Valuation

  Residential

  $3,622,232

  Hospitality

  $3,317,945

  Educational

  $2,760,491

  Medical

  $2,855,429

  Retail

  $4,294,098

Location Insight

City

Tallahassee

County

Leon

State

Florida

Latitude

30.4592

Longitude

-84.2402

CBSA code

45220

CBSA name

TALLAHASSEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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