Leases Renewed, No Coronavirus Rent Deferment

Retail-Commercial for Sale
Catylist Listing ID: 30326471
Building Size (RSF): 14,850 SF
Gross Building Area: See Agent
Gross Land Area: 0.60 SF
Sale Price: $1,495,000
Unit Price: $100.67 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Cash to Seller
Cap Rate: 8.8%
Last Updated: 5/4/2021

Overview / Comments

Renewed Leases! No Coronavirus rent deferment, Tenants are paying full rent! 14,850 square foot fully leased building. Located on out parcel to a very busy Publix anchored center. AC zoning affords maximum flexibility. Virtually unlimited parking, cross parking and access easements with the Publix Property. Building is well maintained. Excellent payment history.
With access from 3 major four-lane streets total, traffic count is over 70,000 VPD. Off-site storm water management by the City of Tallahassee.
There are no Publix use restrictions on the Property. Leases term out September 2019 but Tenants are willing to renew for multi-year terms

Attachments & Media


Finance Data Year 2018
Net Operating Income $145,200 (Annual)

Current Tenants

Tenant Business Name Dance Fusion
Industry Type Arts, Entertainment, and Recreation
Is Renting? Yes
SF of Space Occupied 8,810 SF
Tenant Business Name Engage Midtown
Industry Type Other Services
Is Renting? Yes
SF of Space Occupied 6,040 SF

Additional Details

Nearest MSA: Tallahassee
County: Leon
Tax ID/APN: 21-25-20-030-000.0
Zoning: AC
Retail Clientele: General, Family, Business, Other
Property Located Between: Monroe St & Tharpe
Largest Nearby Street: Monroe
Feet of Frontage: 208
Tenancy: Multiple Tenants
Number of Stories: 1
Year Built: 1991
Construction/Siding: Brick
Total Parking Spaces: 100
Parking Type: Surface

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,555 105,075 179,433
Median Age: 33.14 29.35 31.71
Households: 6,799 44,752 74,872


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