3802 North Monroe

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30520145
Property Subtypes: Street Retail
Status: Pending
Building Size (RSF): 17,544 SF
Gross Building Area: See Agent
Sale Price: $2,900,000
Unit Price: $165.30 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Sale/Leaseback
Cap Rate: Undisclosed
Last Updated: 6/12/2020

Overview / Comments

7.5% cap rate investment in a promising area for growth in Florida's
Capital City
Finite amount of developable land in trade area due to Lake Protection
zoning
Dollar General: 9,014 SF, 5 year corporate guaranteed lease remaining,
three 5-year options increasing at 10% per renewal period
Ace Hardware: 8,530 SF, 4 year guaranteed lease remaining, three 5-year
options increasing at 12% per renewal period
NNN investment opportunity in Northwest Tallahassee, FL. Property is
occupied by Dollar General and Ace Hardware, with both tenants having
guaranteed leases until 4th quarter 2024 then options to renew.
Improvements were developed in 2010 and land included in sale is 2.80
acres zoned commercial parkway.

Attachments & Media

Additional Details

Nearest MSA: Tallahassee
County: Leon
Tax ID/APN: 2109513281180

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,479 48,452 117,474
Median Age: 32.01 31.08 30.11
Households: 3,469 20,438 48,032

Contact

Photograph of Listing Agent

Tracy Waters

Premier Commercial Group, LLC
TALrex.com Member
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