Prime Redevelopment Opportunity

Vacant Land for Sale
Also listed as Special Purpose, Business Opportunity
Catylist Listing ID: 30404570
Property Subtypes: Hospitality, Industrial, Multi-Family, Office, Residential (Single Family), Retail, Retail-Pad, Vacation/Resort, Other
Gross Land Area: 1.02 Acres
Sale Price: $1,495,000
Unit Price: $1,465,686 Per Acre
Sale Terms: Other
Cap Rate: Undisclosed
Last Updated: 10/13/2021

Overview / Comments

The property is an impervious ½ city block (1.02 acres) of land primed for redevelopment, located in between Midtown and Downtown Tallahassee and 3 blocks south of the Florida Governor's Mansion. Subject is zoned Central Core (CC) which is the most dense zoning designation within the city limits and permits up to 150 dwelling units per acre. The 9,078 SF structure on site is generating a net operating income of $8,200 a month with 7 months remaining on their lease, thus providing the potential developer a steady cash flow during the permitting process.

Additional Details

Nearest MSA: Tallahassee
County: Leon
Tax ID/APN: 2136401933970

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 15,152 111,604 177,019
Median Age: 28.05 28.46 30.89
Households: 5,832 46,814 73,611
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