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 Sold
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Interested? Call Me!
portrait of Tracy Waters
Tracy Waters
4708 Capital Circle NW
Tallahassee, FL, 32303
850-205-5201 ext. 20

Lic. BK658092


- 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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