Catylist Listing ID: 30778049
Property Subtypes: High-Rise, Low-Rise/Garden, Mid-Rise, Mixed Use, Student Housing
Number of Units: 5 Units
Building Size (RSF): 7,318 SF
Gross Land Area: 1.36 Acres
Sale Price: See Agent
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 1/9/2022

Overview / Comments

This well-positioned land assemblage lies in a growing Tallahassee submarket with convenient ingress/ egress on main, Tallahassee travel thoroughfares. The favorable CU-45 zoning permits prime redevelopment speculative plays including multifamily, retail and self storage uses. The property also has convenient access to Midtown shopping district and professional nightlife points of interest and is just minutes away from the Downtown core market, government district and statewide I-10 travel corridor. For developers, there are income-producing units on the property which will soften the carrying costs while working through the redevelopment process.

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Additional Details

Nearest MSA: Tallahassee
County: Leon
Tax ID/APN: 2125490110030
Site Description: * Sites boasts favorable walkability and bikability scores (walkscore. com) • Trade area includes Whole Foods, Hollywood Feed, F45 Training, The Brass Tap, Tropical Smoothie Café and more • Just a 5-minute drive from the Florida Government District and Florida State University • Positioned amongst a three street intersection that boasts a combined 20,000+ ADT with direct road frontage and ingress/ egress to all roads • $108,000+ in annual income from existing tenants makes this a great “covered land” play for a developer
Area Description: Midtown Tallahassee Overview Midtown Tallahassee is a vibrant, yet quaint, Tallahassee submarket full of charm and character. It extends east from North Macomb Street to Capital Circle NE and Capital Circle SE. The boundary starts at Apalachee Parkway and extends north to I-10. Living In Midtown While the Midtown/East Tallahassee area is experiencing accelerated growth, it remains home to many young families and seasoned couples. Midtown/East Tallahassee is becoming a Tallahassee hotspot for young professionals, growing families and creative types. It’s an ideal place for people looking for a safe place to live outside of the downtown area, but still close enough to downtown’s entertainment and business districts. Midtown Area Schools The Midtown district is near Florida State University, Lincoln High School, Leon High School, Fairview Middle School, Swift Creek Middle School nearby, W. T. Moore Elementary School, Sullivan Elementary School and Gilchrist Elementary School. Attractions Midtown/East Tallahassee is home to the Governor’s Mansion, historical landmarks like the Princess Murat Hotel or the Mary Brogan Museum of Art and Science. You can also enjoy a picnic, vast beauty and open-air sunshine at Lake Ella. Residents also get the luxury of having the Museum of Florida History which chronicles early Florida through more than 40,000 artifacts and permanent exhibits spanning from the prehistoric up to Florida’s industrial development. Locals working and living in this area also have convenient access to shopping at the regional Governor’s Square Mall located on the Apalachee Parkway as well as a plethora of shows and sporting events held at Tallahassee Leon County Civic Center.
Total Number of Buildings: 4
Zoning Description: CU-45 Zoning District • Provides for medium and high-density residential development with densities ranging from a minimum of 4 dwelling units per acre to a maximum of 45 dwelling units per acre • Provides for office development (up to 60,000 square feet per acre) • Provides access to major shopping and businesses opportunities (up to 60,000 square feet per acre) • Promotes infill and redevelopment of urban areas with sufficient supporting infrastructure, accessibility to services and proximity to Downtown and universities • Promotes compatibility with adjacent land uses through limitations on development intensity and use of development and design standards • Allows residential development at the densities necessary to support the use of public transit and promotes pedestrian and bicycle mobility through design requirements

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,963 108,406 182,724
Median Age: 32.12 29.41 31.41
Households: 5,820 45,748 75,984
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