3802 North Monroe
Tallahassee, FL, 32303
| Price | $2,835,000 |
| Type | Sale |
| Size | 17,544 |
| Est. Cap Rate | 7.6 |
| Listed | May 13, 2021 |
| Status | Sold |
Details
Tracy Waters
4708 Capital Circle NWTallahassee, 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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