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6800 Thomasville Rd - Suite 102 4,432 SF Retail Condo Unit Offered at $2,902,016 CAD in Tallahassee, FL 32312
INVESTMENT HIGHLIGHTS
- The property is currently leased on an Absolute NNN lease, requiring minimal landlord responsibilities, with 10 years of term remaining
- The property is located in Florida, a state with no state income tax
- Located across the street from Publix-anchored Bradfordville Center and a 124,000 SF Target
- The lease includes 15% rental increases every 5 years including the 10-year option period, providing protection against inflation
- The asset is located on the westside of Thomasville Road in Tallahassee, FL with an AADT of 12,700
- Strong local operator with multiple successful concepts
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Total Building Size | 12,072 SF | Typical Floor Size | 12,072 SF |
| Property Type | Retail (Condo) | Year Built | 1986 |
| Property Subtype | Restaurant | Lot Size | 6.50 AC |
| Building Class | B | Parking Ratio | 4.14/1,000 SF |
| Floors | 1 | ||
| Zoning | BC-2 - BC-2 Bradfordville Commercial. | ||
| Total Building Size | 12,072 SF |
| Property Type | Retail (Condo) |
| Property Subtype | Restaurant |
| Building Class | B |
| Floors | 1 |
| Typical Floor Size | 12,072 SF |
| Year Built | 1986 |
| Lot Size | 6.50 AC |
| Parking Ratio | 4.14/1,000 SF |
| Zoning | BC-2 - BC-2 Bradfordville Commercial. |
AMENITIES
- Dedicated Turn Lane
1 UNIT AVAILABLE
Unit 102
| Unit Size | 4,432 SF | Sale Type | Investment |
| Price | $2,902,016 CAD | Cap Rate | 6.00% |
| Price Per SF | $654.79 CAD | NOI | $174,120.96 CAD |
| Condo Use | Retail | APN/Parcel ID | 1422110001140 |
| Unit Size | 4,432 SF |
| Price | $2,902,016 CAD |
| Price Per SF | $654.79 CAD |
| Condo Use | Retail |
| Sale Type | Investment |
| Cap Rate | 6.00% |
| NOI | $174,120.96 CAD |
| APN/Parcel ID | 1422110001140 |
DESCRIPTION
RIPCO Real Estate is pleased to offer for sale 6800 Thomasville Road, Suite 102, a 4,432 SF commercial condominium located on the westside of Thomasville Road in Tallahassee, FL. The property is part of the Bradfordville Commons, a 10-unit neighborhood center of which the property comprises 15% of the project. The unit is currently being renovated for Cancun’s Sports Bar, a popular Tallahassee sports bar that recently signed a 10-year absolute NNN lease. The lease includes one 10-year option to extend with 15% rental increases in Year 1 and Year 6 of the option period, providing protection against inflation. This stretch of Thomasville Road where the property is located has an AADT of 12,700. Within 3 miles of 6800 Thomasville Road, there is a population of 29,216 and an average household income of $164,478.
The asset would be an attractive investment opportunity for investors looking for minimal landlord responsibilities, a popular local brand, long term lease providing stable cash flow, and located in Florida, a state with no state income tax.
NEARBY MAJOR RETAILERS
NNN TENANT INFORMATION Click Here to Access
| TENANT | SF OCCUPIED | LEASE END DATE |
|---|---|---|
| Cancun's Sports Bar and Grill |
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|
Jan 0000
|
| Hurricane Grill & Wings |
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|
Jan 0000
|
| Burn Boot Camp |
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|
Jan 0000
|
| Artistry Dance Alliance |
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|
Jan 0000
|
| United States Postal Office |
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|
Jan 0000
|
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6800 Thomasville Rd - Suite 102
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