Income Producing Property in Tallahassee, FL

Retail-Commercial for Sale
Sale Pending/Contingent
Catylist Listing ID: 30739818
Property Subtypes: Free-Standing Building, Mixed Use, Street Retail
Status: Pending/Contingent
Building Size (RSF): 11,448 SF
Gross Land Area: 0.79 Acres
Sale Price: See Agent
Property Use Type: Investment
Building Name: The Living Harvest
Usable Size (USF): 11,448 SF
Sale Terms: Cash to Seller
Cap Rate: 7.7%
Average Occupancy Rate: 100
Last Updated: 7/28/2021

Overview / Comments

All metal building. It was built as a Bandcock furniture building. 2 dock high doors in the back of the building.
Lease is at the end of its 3rd year of the 3 year base term. The tenant has exercised their 1st 3 year option term.
Starting 9/17/2021 rent goes to $51,912 NNN

Additional Details

Nearest MSA: Tallahassee
County: Leon
Taxing Authority: Leon County
Tax ID/APN: 411230 D0070
Zoning: CU-45 (CENTRAL URBAN 45)
Retail Clientele: General, Business, Other
Property Located Between: South Monroe and South Meridian
Property Visibility: Excellent
Largest Nearby Street: South Monroe
Airports: TLH
Site Description: Flat site with access from the front and rear of the building.
Area Description: South side of Tallahassee. This a strong location for the tenant.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 11,448 SF
Property Condition: Average
Year Built: 1985
Construction/Siding: Metal Siding
Exterior Description: Metal building with retail store front.
Total Parking Spaces: 16
Parking Ratio: 1.4 (per 1000 SF)
Parking Type: Surface
Heat Type: Electricity
Heat Source: Ceiling Units
Internet Access: Cable, T1/T3, Fiber Optic
Interior Description: Open floor plan
Zoning Description: Central Urban 45. A variety of commercial and residential uses.
Lot Frontage: 202'
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,654 85,062 145,712
Median Age: 25.7 27.39 29.03
Households: 4,069 34,456 60,142

Contact

Photograph of Listing Agent

Brian S. Messer, CCIM

The Naumann Group Real Estate, Inc. TALrex.com Member
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