INVESTMENT OPPORTUNITY

Retail-Commercial for Sale
Catylist Listing ID: 30328715
Property Subtypes: Free-Standing Building, Street Retail
Building Size (RSF): 2,000 SF
Gross Land Area: 0.78 Acres
Sale Price: $900,000
Unit Price: $450 PSF
Property Use Type: Investment
Building Name: Verizon Building
Usable Size (USF): 2,000 SF
Sale Terms: Cash to Seller
Cap Rate: 6.85%
Average Occupancy Rate: 100
Last Updated: 9/21/2018

Overview / Comments

The subject property is a 1 story free-standing 2,000 SF building located on .775 Acres in downtown Quincy, FL. Prime Tenant and Building location. Original lease dated 2005 , renewed 11/1/2018 and ends October 2023 with Increases at 2% Per-Annum. Corporately Guaranteed Lease. Access easements (CVS Pharmacy-see attached).

Current Tenants

Tenant Business Name Verizon Wireless
Is Renting? Yes
Lease Expiration 10/2023
Escalations 2% per annum
Options 10/2023
Tenant Notes Cellular Sales of Northern Florida, LLC DBA Verizon Wireless

Additional Details

Nearest MSA: Tallahassee
County: Gadsden
Taxing Authority: Gadsden County
Tax ID/APN: 3-12-2N-4W-1080-00003-0070, 3-12-2N-4W-1080-00003-0010
Zoning: COMMERCIAL HWY 90
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation
Property Located Between: 14th Street & Frank Smith Rd
Property Visibility: Excellent
Highway Access: Hwy 90, next to CVS (lighted signal) Access Easement Attached
Site Description: Free-standing 2,000 sf building located on Hwy 90 near shops, restaurants and businesses.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 2,000 SF
Year Built: 2005
Roof Type: Flat
Construction/Siding: Stucco
Exterior Description: Stucco Exterior with Glass front and sides
Parking Type: Surface
Parking Description: parking lot
Zoning Description: Commercial Hwy 90
Easements: Ingress/Egress
Easements Description: Access Easements (CVS Pharmacy)- see attached

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