NNN Leased Subway

Retail-Commercial for Sale
Sale Pending/Contingent
Catylist Listing ID: 30210241
Property Subtypes: Free-Standing Building
Status: Pending/Contingent
Building Size (RSF): 1,682 SF
Sale Price: $758,600
Unit Price: $451.01 PSF
Property Use Type: Net Leased Investment (NNN)
Building Name: Net Leased Subway, Outparcel to Lucky's Supermarket
Sale Terms: Cash to Seller
Cap Rate: 7.0%
Average Occupancy Rate: 100
Last Updated: 8/20/2018

Overview / Comments

Single Tenant, Net Leased Subway with two, 2 year Options remaining. Rent increases 5% over each Option period. Tenant has control until September 2022. Current Annual Rent is $58,120.08

Additional Details

Nearest MSA: Tallahassee
County: Leon
Taxing Authority: Leon County
Tax ID/APN: 21-27-20-451-0000
Property Visibility: Excellent
Largest Nearby Street: Highway 90 West
Traffic/Vehicle Count: 52,000
Highway Access: West Tennessee Street (Highway 90)
Site Description: Site is an outparcel to Lucky's Market and across from New Target Center.
Area Description: FSU Campus market with high traffic counts...major retail corridor with high barriers for entry.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 1,682 SF
Property Condition: Good
Year Built: 1991
Year Renovated: 1998
Roof Type: Other
Construction/Siding: Stucco
Exterior Description: Stucco/Concrete
Total Parking Spaces: 15
Parking Ratio: 10 (per 1000 SF)
Parking Type: Surface
Parking Description: Cross Easement parking with overflow available in adjacent shopping center.
Heat Type: Electricity
Heat Source: Heat Pump
Air Conditioning: Package Unit
Internet Access: Cable, DSL
Interior Description: Subway Corporate decor package
Zoning Description: Commercial Parkway
Water Service: Municipal
Sewer Type: Municipal
Easements: Other
Easements Description: Parking and Ingress/Egress is by legally recorded easement.
Land Ownership: Fee Simple

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Photograph of Listing Agent

J. R. Long, CCIM

Proctor & Long, LLC TALrex.com Member
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