This paper presents the practical implementation and empirical evaluation of a commercial Bluetooth Low Energy (BLE) based Real-Time Location System (RTLS) within a multi-story university building, an environment characterized by significant architectural and electromagnetic interference. The study addresses a gap in existing research, which often focuses on simulations or single-story deployments, by analyzing the system's performance in a real-world, challenging setting. The system, integrated with enterprise-grade wireless infrastructure, was subjected to five test scenarios designed to assess its core functionalities: real-time tracking accuracy, reliability of geofencing and alarm features, and performance under severe interference and in a multi-floor context. The results demonstrated high reliability for room-level identification, achieving a location accuracy between 1.5 and 3.0 meters under normal operating conditions. Furthermore, location-based alarm and geofencing functions proved to be fully effective and instantaneous. However, the study identified two critical limitations: a complete failure of the system when the tracking tag was placed within a shielded metal enclosure, and an inability to distinguish between floors, which led to incorrect location projections and false alerts. The findings conclude that while BLE-based RTLS is highly effective for room-level asset management in standard office environments, its successful implementation in multi-story buildings is critically dependent on installing dedicated infrastructure on each floor and acknowledging its technological limitations in heavily shielded areas.