Retail Shopping Center For Sale

Shopping Center for Sale
Catylist Listing ID: 30343335
Property Subtypes: Community Center
Building Size (RSF): 105,010 SF
Gross Building Area: See Agent
Sale Price: $4,000,000
Unit Price: $38.09 PSF
Property Use Type: Investment
Building Name: Heritage Plaza
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/29/2018

Overview / Comments

2810 Sharer Road is a 105,010 square foot retail shopping center located in Tallahassee, Florida. The well established center is positioned off of the heavily traveled North Monroe Corridor, and just off of Interstate 10. The Center features a variety of long standing tenants that include restaurants, a sports bar, Chuck E. Cheese, a movie theater, and more. The Center is co-located on the same site with one of Tallahassee’s largest church facilities, which continues to be an excellent complementary use. The Center represents a value add opportunity by addressing under market leases, and through the addition of professional management. Additionally, the nearby regional mall is in the process of transitioning to new office space for the State of Florida to be delivered in 2020. The resulting decrease in available retail space in the area, combined with the increase in daytime employees in the area provides for real value add opportunities.

Financials

Finance Data Year 2018
Gross Operating Income $670,000 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Tallahassee
County: Leon

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,052 90,321 166,638
Median Age: 30 29.98 30.9
Households: 4,025 36,919 69,370

Contact

Photograph of Listing Agent

Jeff Billingsley

Craig Commercial Realty
TALrex.com Member
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