N Monroe Investment Properties

Retail-Commercial for Sale
Catylist Listing ID: 30624558
Property Subtypes: Free-Standing Building, Street Retail
Building Size (RSF): 6,069 SF
Gross Building Area: See Agent
Gross Land Area: 0.29 Acres
Sale Price: $495,000
Unit Price: $81.56 PSF
Property Use Type: Investment
Building Name: Stokes N Monroe Investment Properties
Usable Size (USF): 4,394 SF
Sale Terms: Cash to Seller
Cap Rate: 8.43%
Average Occupancy Rate: 100
Last Updated: 9/12/2020

Overview / Comments

Two adjacent retail commercial buildings, fully leased. Two spaces of approximately 1457 SF and two at 740 SF. One building has unfinished basement.
Located on US 27 N with traffic counts of 39,446 (CoStar), across from Lake Ella Plaza Publix and CVS. 1733 N Monroe is 3062 SF and 1707 N Monroe is 1457 plus 1550 SF unfinished basement.

Additional Details

Nearest MSA: Tallahassee
County: Leon
Tax ID/APN: 2125200290000
Zoning: ACTIVITY CENTER
Retail Clientele: General
Property Located Between: E. Tharpe Street and Lake Ella Drive (Lake Ella Park)
Property Visibility: Excellent
Largest Nearby Street: US 27 & Tharpe
Feet of Frontage: 968
Traffic/Vehicle Count: 39,446
Highway Access: US 27, 3 miles to I-10
Site Description: High traffic area with median, sloping lot with two 2-story buildings with ground level access to front units and ground level access to rear units.
Area Description: Site is surrounded by retail, office and residential and is a major thoroughfare for local traffic through Tallahassee.
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 2
Typical SF / Floor: 1,457 SF
Property Condition: Average
Year Built: 1954
Roof Type: Flat
Construction/Siding: Concrete
Exterior Description: Two concrete block buildings separated by drive to the rear of the property.
Total Parking Spaces: 17
Parking Type: Surface
Parking Description: Surface parking, 8 spaces in front and 9 in the rear of the property.
Sprinklers: None
Heat Type: Electricity
Heat Source: Central, Wall Units
Air Conditioning: Package Unit, Window Unit
Interior Description: Open with some partitions and a restroom in each space.
Zoning Description: Activity Center
Lot Frontage: 96.8
Lot Depth: 159
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Fee Simple
Legal Description: 1733 N Monroe: 25 1N 1W .238 A IN NE 1/4 OR 1317/964 96-870PR 1966/2355 OR 2368/1809 1707 N Monroe: 25 1N 1W .05 A IN NW 1/4 OF NE 1/4 OF NE 1/4 OR 396/96 2368/1809

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,100 104,996 178,753
Median Age: 34.68 29.8 31.7
Households: 5,386 44,877 74,625

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