325 John Knox Road - Building F

Office for Sale
Catylist Listing ID: 30660706
Property Subtypes: Office Building
Building Size (RSF): 43,481 SF
Gross Building Area: See Agent
Sale Price: $4,370,000
Unit Price: $100.50 PSF
Property Use Type: Investment
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/23/2021

Overview / Comments

VALUE-ADD Office Investment. Currently undergoing construction for the new GSA Forestry Services 10-year lease. The building is approximately 48% occupied with over 22,500 SF of available upside vacancy. This building is perfectly positioned within the Woodcrest Office Park with frontage along John Knox.

GSA Forestry will begin paying $434,831/annually once construction is completed. There is a reset in years 6-10 to $297,801/annually. Forestry has occupied the space for over 20 years.
E&E has recently exercised their option to extend for an additional 5-years at $50,846 in year one. Their base rate will increase by $0.50 annually.
Asking rate for vacancy is currently $16.50 PSF. All leases are Full Service.
Estimated operating expenses for the property are $6.30 PSF.

Additional Details

Nearest MSA: Tallahassee
County: Leon
Tax ID/APN: 2124206440000

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,059 99,115 177,884
Median Age: 31.78 29.86 31.31
Households: 5,439 42,062 74,172
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