674 Crossway Rd
Tallahassee, FL, 32305
| Price | $1,236,000 |
| Type | Sale |
| Size | 5.39 ac |
| Est. Cap Rate | 7% |
| Listed | |
| Status | Listed |
Details
Premier Commercial Group is pleased to present a rare investment opportunity consisting of three ground-leased parcels totaling ±5.39 acres across two adjacent properties in Tallahassee, Florida. Strategically located along Crossway Road, these lots are positioned within a growing commercial corridor that already includes high-traffic developments such as a brand-new Wawa gas station and Dollar General.
Each parcel is income-producing with existing tenants on long-term ground leases, offering stable cash flow and minimal landlord responsibilities. Two parcels are located at 687 Crossway Rd, while the third sits across the street at 674 Crossway Rd. This offering is ideal for investors seeking passive income and long-term upside in a rapidly developing trade area of Florida’s capital city.
PROPERTY HIGHLIGHTS
- Prime Location: Adjacent to Wawa & Dollar General under construction — high visibility and traffic
- 3 Fully Leased Parcels:
- 674 Crossway Rd | $2,600/mo | Lease through 12/31/2027 | NOI: $28,400
- 687 Crossway Lot 1 | $3,496.75/mo | Lease through 1/31/2028 | NOI: $36,141
- 687 Crossway Lot 2 | $22,000 annual | Lease through 12/31/2027 | NOI: $22,000
- Strong Income: Total annual NOI of $86,541
- Low Maintenance: Ground leases with no landlord liability for structures
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