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Multi-tenant building for sale 3808 N Monroe St 3,200 SF 100% Leased Retail Building Tallahassee, FL 32303 $1,260,133 CAD ($393.79 CAD/SF) 3.71% Cap Rate
Investment Highlights
- Minutes from I-10 interchange.
- Strong rental income potential.
- Tenants have a combined 20 year operating history at this plaza
- 100% occupancy with NNN leases way below market rent.
- Well-maintained property with high visibility and foot traffic.
Executive Summary
Premier Commercial Group proudly presents a prime investment opportunity in a high traffic strip plaza located on 3808 N Monroe St. in Tallahassee, FL. This offering includes two fully leased units, currently occupied by well-established tenants: Papa John’s and Just One More.
Papa John’s has 2 years remaining on a NNN lease, providing stable income with minimal landlord responsibilities.
Just One More has 4 years left on its NNN lease, offering additional long-term security.
Both tenants are locked in at below-market rents, creating a significant opportunity for future rent growth. With no renewal options in place, investors have the potential to adjust leases to reflect current market conditions upon expiration. This is a fantastic opportunity for savvy investors seeking a steady return with upside potential in one of Tallahassee’s most active commercial areas. Don’t miss out on this chance to add a high-performing asset to your portfolio!
Papa John’s has 2 years remaining on a NNN lease, providing stable income with minimal landlord responsibilities.
Just One More has 4 years left on its NNN lease, offering additional long-term security.
Both tenants are locked in at below-market rents, creating a significant opportunity for future rent growth. With no renewal options in place, investors have the potential to adjust leases to reflect current market conditions upon expiration. This is a fantastic opportunity for savvy investors seeking a steady return with upside potential in one of Tallahassee’s most active commercial areas. Don’t miss out on this chance to add a high-performing asset to your portfolio!
Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Building Size
3,200 SF
Building Class
C
Year Built
1997
Price
$1,260,133 CAD
Price Per SF
$393.79 CAD
Cap Rate
3.71%
NOI
$46,745 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.07
Lot Size
1.10 AC
Zoning
CP - Commercial Parkway
Future Zoning: SUB - Suburban
Parking
14 Spaces (4.38 Spaces per 1,000 SF Leased)
Amenities
- Security System
- Signage
- Air Conditioning
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 21-09-51-329-119-1 | Improvements Assessment | $305,644 CAD |
| Land Assessment | $109,057 CAD | Total Assessment | $414,701 CAD |
Property Taxes
Parcel Number
21-09-51-329-119-1
Land Assessment
$109,057 CAD
Improvements Assessment
$305,644 CAD
Total Assessment
$414,701 CAD
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Multi-tenant building for sale | 3808 N Monroe St
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