2600 Centennial Place

Office for Sale
Catylist Listing ID: 30737434
Property Subtypes: Medical
Building Size (RSF): 31,000 SF
Gross Building Area: See Agent
Gross Land Area: 3.40 Acres
Sale Price: $4,175,000
Unit Price: $134.68 PSF
Property Use Type: Investment
Building Name: 2600 Centennial
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: 8.63%
Last Updated: 9/16/2021

Overview / Comments

100% Occupied office/medical building in Regional Center office park in NE Tallahassee. Tenants include Acentria Insurance, The Florida Home Builders Association, and Fresenius Medical Care. Owner would vacate top floor to make room for owner/user if so desired.

100% Occupied
2006 Construction
In place CAP Rate of 8.63%

Attachments & Media

Financials

Finance Data Year 2021
Real Estate Taxes - Annual($) $57,999 (Annual)
Potential Rental Income $490,080 (Annual)
Gross Operating Income $490,080 (Annual)
Net Operating Income $360,231 (Annual)
Actual or Proforma Year Actual

Current Tenants

Tenant Business Name Florida Homebuilders Association
Industry Type Other Services
Is Renting? Yes
Annual Revenue $125,020 (Annual)
Suite Number 101
SF of Space Occupied 7,000 SF
Current Rent $18 PSF (Annual)
Lease Expiration 7/2023
Tenant Business Name Fresenius Medical Care
Industry Type Health Care and Social Assistance
Is Renting? Yes
Annual Revenue $131,250 (Annual)
Suite Number 102
SF of Space Occupied 7,500 SF
Current Rent $18 PSF (Annual)
Lease Expiration 4/2027
Tenant Business Name Acentria Insurance
Is Renting? Yes
Annual Revenue $187,400 (Annual)
Suite Number 200
SF of Space Occupied 10,000 SF
Current Rent $187,400 PSF (Annual)
Lease Expiration 9/2028
Tenant Business Name Groendyke Transportation
Industry Type Other Services
Is Renting? Yes
Annual Revenue $61,787 (Annual)
Suite Number 201
SF of Space Occupied 3,886 SF
Current Rent $16 PSF (Annual)
Lease Expiration 10/2021

Additional Details

Nearest MSA: Tallahassee
County: Leon
Taxing Authority: Leon County
Tax ID/APN: 1116204330000
Site Description: Located in the desirable Northeast office sub-market within the Regional Center professional office park.
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 15,500 SF
Year Built: 2006
Construction/Siding: Brick
Parking Ratio: 4.2 (per 1000 SF)
Parking Type: Surface
Parking Description: Surface
Total Parking Spaces: 130
Passenger Elevators: 1
Part of Planned Development?: Yes

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,417 50,771 137,505
Median Age: 38.97 40.71 34.59
Households: 3,446 23,208 57,134
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