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 |
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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