Catylist ID:
#30379075
7+ Acres FLEX - MULTI-PURPOSE SPACE between FSU and FAMU
Industrial
for Sale
Also listed as Business Opportunity
| Catylist Listing ID: | 30379075 |
| Property Subtypes: | Flex Space, Free-Standing, Industrial-Business Park, Manufacturing, Mixed Use, Light Industrial, Self Storage, Truck Terminal, Warehouse/Distribution |
| Building Size (RSF): | 71,650 SF |
| Gross Land Area: | 7.15 Acres |
| Sale Price: | $3,200,000 |
| Unit Price: | $44.66 PSF |
| Ceiling: | 18 ft. |
| Docks/Doors: | 30 Docks, 30 Doors |
| Office SF: | 3,000 SF |
| Drive In Bays: | 3 Bays |
| Property Use Type: | Net Leased Investment (NNN), Investment, Business |
| Building Name: | Council Properties |
| Sale Terms: | Cash to Seller |
| Cap Rate: | 8.0% |
| Average Occupancy Rate: | 85 |
| Last Updated: | 6/29/2020 |
Overview / Comments
|
FUTURE USE POTENTIAL IS ENDLESS! The subject property is located at the southwest intersection of Gamble Street and along the west side of Mill Street across from The City of Tallahassee improved park “Tallahassee Junction" Park and Cascades Park Trail. 1.5 Miles SW of Downtown Tallahassee 1.1 Miles from Innovation Park 3.3 Miles to Tallahassee Regional Airport 7.10 Acres Light Industrial Warehouse Property Comprised of 5 Buildings with multiple office/storage bays, loading docks, electric and water in gated property with 2 entrances. General Zoning CU-45 Central Urban Future Land Use Designation CU Central Urban Five, One-Story Buildings. Concrete Block Construction. Total 71,660 Square Feet gross leasable area. 10,750 sf Approximate Office Space-Conditioned 60,900 sf Approximate Warehouse Space. 3 Phase Electric Units have overhead Garage Doors and Steel Entry doors Concrete Block, Steel Frame/Metal Roofing with Insulation Asphalt Paved Parking and roadways, partial non-paved Chain link Fencing with Barbed Wire top Two entrance gates. Tenants are month-to-month with a 90 day courtesy notice and several wish to continue leases. |
Attachments & Media
Additional Details
| Nearest MSA: | Tallahassee |
| County: | Leon |
| Taxing Authority: | Leon County |
| Tax ID/APN: | 41-02-20-429-000.0 |
| Zoning: | CU-45 |
| Property Located Between: | Gamble Rd, FAMU Way, Orange Avenue |
| Highway Access: | .2 mi to Hwy 363 - Orange Ave. .2 Mi to FAMU - FLorida A & M University .3 MI to FSU - Florida State University |
| Airports: | Tallahassee International Airport- 2 miles |
| Site Description: | Current Industrial Warehouses with loading docs Some finished office spaces. 6 Buildings. Divided 1000 - 2000 sqft spaces, and few larger bays. 3-Phase electric and units with bathrooms. Concrete block with Steel garage door roll-ups and metal entry doors, metal roofs. Almost all rented now. Short term leases in case of sale. Asphalt and cleared parking areas. Multi-Use property prime for redevelopment - housing - office - business -located across from Tallahassee Junction Park-an extension of Cascades Park Trail. .3 MI to FSU - Florida State University 2 Mi to FAMU - Florida A & M University FAMU Way being constructed and relocated at Eastern border of Property Surrounded by Southside Frenchtown Development district. Mutimodal transportation District. |
| Area Description: | PRIME RE-DEVELOPMENT AREA - HEART OF SOUTH-CENTRAL TALLAHASSEE CENTRAL URBAN - 45 HIGH DENSITY, MULTIPLE POTENTIAL USAGES Prime location in Center of Tallahassee surrounded by Collegetown, Art Park, City Park, Affordable Housing, New Closeby Restaurant/Bars. Minutes to Doak Cambell Stadium and FSU Campus as well as FAMU Campus. |
| Tenancy: | Multiple Tenants |
| Total Number of Buildings: | 5 |
| Number of Stories: | 1 |
| Typical SF / Floor: | 13,500 SF |
| Property Condition: | Average |
| Year Built: | 1960 |
| Roof Type: | Gable |
| Construction/Siding: | Block |
| Exterior Description: | Concrete Block with concrete loading docks and asphalt paved parking areas |
| Parking Type: | Surface |
| Parking Description: | Ample parking spaces in front of buildings as well as large open areas on property. Partial paved surface. All fenced and gated. |
| Eave Height: | 12 |
| Column Spacing: | 50+ |
| Sprinklers: | None |
| X-Phase: | Three-Phase |
| Lighting: | Fluorescent |
| Interior Description: | Open warehouse with insulated metal roof, concrete flooring, half-baths in most units, some have small office spaces finished. |
| Zoning Description: | CU-45 |
| Lot Frontage: | City of Tallahassee Park, City of Tallahassee Drainage ditch |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
| Easements: | Utilities |
| Easements Description: | City Utilities |
| Land Ownership: | Owned with some leased units |
| Legal Description: | 2 1S 1W IN W 1/2 OF SE 1/4 |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 11,803 | 94,296 | 155,474 |
| Median Age: | 24.38 | 26.77 | 29.06 |
| Households: | 4,517 | 37,120 | 64,234 |
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