Incoming Producing Retail for Sale - Projected 7.92 CAP Rate

Retail-Commercial for Sale
Catylist Listing ID: 30514085
Property Subtypes: Restaurant, Street Retail, Other
Building Size (RSF): 18,000 SF
Gross Building Area: See Agent
Gross Land Area: 1.42 Acres
Sale Price: $4,190,000
Unit Price: $232.78 PSF
Property Use Type: Investment
Sale Terms: Undisclosed
Last Updated: 11/19/2019

Overview / Comments

-Projected NOI of $331,720 - 7.92 CAP Rate
-Proposed NOI contains 5% vacancy & collection; 5% property management. Self-manage this property and the CAP Rate increases to 8.38.
-NW corner of Easter Stanley/ Capital Circle NE, at the main lighted intersection for Evening Rose subdivision, between Mahan Drive and Miccosukee Road.
-2 buildings on a 1.42 acre lot—17,705 (+/-) sf in multiple bays
-55,000 vehicles a day on Capital Circle
-63 parking spaces, plus cross easement parking with the neighboring building
-For financial information, please contact Broker.

Additional Details

Nearest MSA: Tallahassee
County: Leon
Tax ID/APN: 1121204440010
Zoning: COMMERCIAL PARKWAY
Retail Clientele: General
Site Description: -Projected NOI of $331,720 - 7.92 CAP Rate -Proposed NOI contains 5% vacancy & collection; 5% property management. Self-manage this property and the CAP Rate increases to 8.38. -NW corner of Easter Stanley/ Capital Circle NE, at the main lighted intersection for Evening Rose subdivision, between Mahan Drive and Miccosukee Road. -2 buildings on a 1.42 acre lot—17,705 (+/-) sf in multiple bays -55,000 vehicles a day on Capital Circle -63 parking spaces, plus cross easement parking with the neighboring building -For financial information, please contact Broker.
Tenancy: Multiple Tenants
Year Renovated: 2016
Zoning Description: https://www.talgov.com/Uploads/Public/Documents/planning/pdf/zoning/cp_city.pdf

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,114 50,339 142,189
Median Age: 35.58 38.46 34.26
Households: 4,237 23,696 58,638

Contact

Photograph of Listing Agent

Brad Parker

TLG Real Estate Services, PLLC
TALrex.com Member
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