Listed by Newmark Commercial Real Estate
$4,800,000
NNN Retail Investment Free Standing Building for Sale
Details
APN 2109513281180
Property Type Retail
Sub Type Convenience Store, Shopping Center
Square Footage 17,544
Units 2
Cap Rate 4.75%
NOI $226,498
Occupancy 100%
Tenancy Multi
Brand/Tenant Dollar General, Ace Hardware
Lease Type NNN
Rent Bumps Yes
Lease Options Both Tenants: three 5-year options
Price per SqFt $274
Year Built 2010
Buildings 1
Stories 1
Acreage 2.816
Zoning Commercial Parkway
Investment Type Net Lease
Tenant Credit Corporate Guarantee
NNN Retail Investment Free Standing Building Corporate Tenants
Investment highlights
- Investment in a promising are for growth in Florida's Capital City
- Finite amount of developable land in trade area due to Lake Protection zoning.
- Dollar General: 9014 SF, 5 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.
- 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.
- Landlord only responsible for roof and structure.
- Improvements were developed in 2010 and land included in sale is 2.80 acres zoned commercial parkway.
Listing Contacts
Listed by Newmark Commercial Real Estate
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$226,498.00
$18,874.83/mo
Valuation Metrics
0
DSCR
4.72%
Cap Rate
4.72%
ROI
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