Catylist ID:
#30769233
Redevelopment Parcel in Active Region of Tallahassee
Special Purpose
for Sale
| Catylist Listing ID: | 30769233 |
| Building Size (RSF): | 5,267 SF |
| Gross Building Area: | See Agent |
| Gross Land Area: | 0.99 Acres |
| Sale Price: | $1,250,000 |
| In Opportunity Zone? | Yes |
| Property Use Type: | Investment, Business |
| Usable Size (USF): | 5,267 SF |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Last Updated: | 11/8/2023 |
Overview / Comments
|
Back on Market – West Tennessee Street is a redevelopment hot-bed. Since 2021, this 2-mile stretch has Has turned over fifteen recently developed or redeveloped properties. Sales have ranged from $600,000 for Vacant acre to $14 million dollars 2017-built multi-family student complex. This property, located in an Opportunity Zone, returns to the marketplace during a dynamic redevelopment period in this student zone. The parcel is located within a quarter of mile from Tallahassee Community College with over fifteen thousand students, in an area with more than 4500 student beds with walking distance. There are 4 banks, 5 pharmacies, several new Car dealerships, including Tesla and Kia and an Acura expansion along this corridor. It is ripe for redevelopment. There is one restaurant. |
Attachments & Media
Additional Details
| Nearest MSA: | Tallahassee |
| County: | Leon |
| Taxing Authority: | City of Tallahassee |
| Tax ID/APN: | 212840 A0010 |
| Zoning: | COMMERCIAL PARKWAY |
| Property Located Between: | Appleyard Drive and McKeithen Street |
| Property Visibility: | Excellent |
| Largest Nearby Street: | West Tennessee Street/U.S. Highway 90 |
| Traffic/Vehicle Count: | 41,500 |
| Highway Access: | 2 curb cuts on site, access to the side street, and u-turn in the median. |
| Airports: | Tallahassee International Airport |
| Site Description: | Back on Market – West Tennessee Street is a redevelopment hot-bed. Since 2021, this 2-mile stretch has Has turned over fifteen recently developed or redeveloped properties. Sales have ranged from $600,000 for Vacant acre to $14 million dollars 2017-built multi-family student complex. This property, located in an Opportunity Zone, returns to the marketplace during a dynamic redevelopment period in this student zone. The parcel is located within a quarter of mile from Tallahassee Community College with over fifteen thousand students, in an area with more than 4500 student beds with walking distance. There are 4 banks, 5 pharmacies, several new Car dealerships, including Tesla and Kia and an Acura expansion along this corridor. It is ripe for redevelopment. There is one restaurant. |
| Area Description: | Commercial area of government institutions and student complexes. |
| Total Number of Buildings: | 3 |
| Number of Stories: | 1 |
| Property Condition: | Good |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 16,283 | 82,338 | 149,240 |
| Median Age: | 23.26 | 24.69 | 29.7 |
| Households: | 7,048 | 31,469 | 59,947 |
| © Copyright 2001-2023 Moody's. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Tallahassee Board of REALTORS nor Moody's assume any liability for errors or omissions. |
