2800 W Tennessee St | Tallahassee, FL 32304
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2800 W Tennessee St
Tallahassee, FL 32304
Retail Property For Sale
Investment Highlights
- High retail exposure
- Currently leased under market rent for comparable properties in the area.
- Easy accès with excellent signage
Executive Summary
3rd year of 1st renewal term starts in 1/2021
Initial term 5 years with 2 five year option
UNDER RENTED: Currently rented for $4.60 Per SF. Average market rate for this type property is $8.00 Per SF minimum.
3% annual rental increases
Initial term 5 years with 2 five year option
UNDER RENTED: Currently rented for $4.60 Per SF. Average market rate for this type property is $8.00 Per SF minimum.
3% annual rental increases
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
25,000 SF
Building Class
B
Year Built/Renovated
1985/2012
Price
$2,500,000
Price Per SF
$100
Cap Rate
4.59%
NOI
$114,629
Tenancy
Single
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.14
Lot Size
4.12 AC
Zoning
CP - Widest range of retail uses in Tallahassee, FL
Parking
80 Spaces (3.2 Spaces per 1,000 SF Leased)
Frontage
406 FT on W TENNESSEE St
Amenities
- Dedicated Turn Lane
- Pylon Sign
- Signage
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 21-28-20-206-000.0 | Improvements Assessment | $404,387 |
| Land Assessment | $600,638 | Total Assessment | $1,005,025 |
PROPERTY TAXES
Parcel Number
21-28-20-206-000.0
Land Assessment
$600,638
Improvements Assessment
$404,387
Total Assessment
$1,005,025
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