2908 Mahan Dr
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2908 Mahan Dr
37,325 SF Specialty Building Offered at $6,900,000 at a 4.97% Cap Rate in Tallahassee, FL 32308
Investment Highlights
- 96% Occupied with great rental history
- Location, Location, Location
- Property is in excellent condition
- 3 story very efficient design
- Easy low cost managed property
- Frontage on major thoroughfare in Tallahassee, FL
Executive Summary
The property sits on 1.58 acres and consists of a one, 3 story building with 308 units. The facility was built in 2005 and is brick and stucco construction. The facility has numerous amenities including, but not limited to, security lighting, video surveillance, key fob access system, climate controlled units, various sizes of units ranging from 25 to 150 square feet, easy access drive up for loading and unloading, indoor units and a full-service on site manager office. MRZ storage is located directly on Highway 90 with gateway access to all of Tallahassee’s future east side growth.
Financial Summary (Actual - 2022) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2022) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $6,900,000 | Building Class | B |
| Price Per SF | $185 | Lot Size | 2.58 AC |
| Sale Type | Investment | Building Size | 37,325 SF |
| Cap Rate | 4.97% | No. Stories | 3 |
| Sale Conditions | 1031 Exchange | Year Built | 2005 |
| Property Type | Specialty | Parking Ratio | 0.35/1,000 SF |
| Property Subtype | Self-Storage |
| Price | $6,900,000 |
| Price Per SF | $185 |
| Sale Type | Investment |
| Cap Rate | 4.97% |
| Sale Conditions | 1031 Exchange |
| Property Type | Specialty |
| Property Subtype | Self-Storage |
| Building Class | B |
| Lot Size | 2.58 AC |
| Building Size | 37,325 SF |
| No. Stories | 3 |
| Year Built | 2005 |
| Parking Ratio | 0.35/1,000 SF |
Amenities
- Property Manager on Site
- Signage
1 of 1
PROPERTY TAXES
| Parcel Number | 11-28-20-034-000.0 | Improvements Assessment | $2,224,358 (2023) |
| Land Assessment | $739,869 (2023) | Total Assessment | $2,964,227 (2023) |
PROPERTY TAXES
Parcel Number
11-28-20-034-000.0
Land Assessment
$739,869 (2023)
Improvements Assessment
$2,224,358 (2023)
Total Assessment
$2,964,227 (2023)
zoning
| Zoning Code | CP (Widest range of retail /commercial use zoning in Tallahassee, FL) |
| CP (Widest range of retail /commercial use zoning in Tallahassee, FL) |
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The Naumann Group Real Estate, Inc
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