3802 North Monroe
Tallahassee, FL, 32303

3802 North Monroe
Price $2,835,000
Type Sale
Size 17,544
Est. Cap Rate 7.6
Listed May 13, 2021
Status Listed
View Property Details

Details

Interested? Call Me!
portrait of Tracy Waters
Tracy Waters
4708 Capital Circle NW
Tallahassee, FL, 32303
850-205-5201 ext. 20
850-545-2282
twaters@teampcg.com

Lic. BK658092

- ASSUMABLE MORTGAGE ONLY

- 7.6% cap rate investment in a promising area for growth in Florida's Capital City

- Finite amount of developable land in trade area due to Lake Protection zoning

- Dollar General: 9,014 SF, 7 year corporate guaranteed lease remaining, three 5-year options increasing at 10% per renewal period

- Ace Hardware: 8,530 SF, 5 year guaranteed lease remaining, three 5-year options increasing at 12% per renewal period Adjacent property- Krispy Krunchy chicken just traded for a 7 CAP (2019)

- Great highway visibility and frontage

- NNN investment opportunity in Northwest Tallahassee, FL. Property is occupied by Dollar General and Ace Hardware, with both tenants having guaranteed leases until 4th quarter 2024 then options to renew.

- Improvements were developed in 2010 and land included in sale is 2.80 acres zoned commercial parkway.


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