Surplus Condo Building Pad Site

Vacant Land for Sale
Catylist Listing ID: 30681150
Property Subtypes: Office, Retail-Pad
Gross Land Area: 2.20 Acres
Sale Price: $648,000
Unit Price: $294,545 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/19/2021

Overview / Comments

The subject property consists of 54 pad sites out of a total of 72 pad sites within the Midyette Palms Condominium neighborhood. Commonly known as phases 2, 3 and 4 of the development, these units were never built by the original developer. The pad sites consist of one 24-unt pad site, one 18-unit pad site, one 6-unit pad site, and one 6-unit pad site remaining on the previously constructed 24 unit pad site. (18 units were constructed, 6 units were not, so the remaining 6 pad sites are included as part of the 54 pad site total. Pad sites are generally 30' x 60' and would typically support an approximate 1300-1700 SF, two-story condo unit. Existing neighborhood amenities include front entrance signage, paved streets w/ concrete sidewalks & curbing, underground utilities and stormwater retention. There are 18 existing improved padsites in the neighborhood and the typical condo unit is 3 bedrooms and two and one-half baths. All permit verifications and entitlements are the responsibility of the buyer.

Additional Details

Nearest MSA: Tallahassee
County: Leon
Tax ID/APN: 3104080011108

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,221 51,308 127,948
Median Age: 28.51 31.79 31.36
Households: 3,162 23,476 52,627


Photograph of Listing Agent

Carlton Dean, SIOR, CCIM

SVN | SouthLand Commercial Member
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