Medical Office Building - Tallahassee, FL
Value-Add Office | High Population | Below Replacement Cost | Tallahassee, FL
Marketing description
Introducing a prime opportunity for office building investors in the Tallahassee area. This distinguished property boasts a 3,448 SF building constructed in 1988, offering the ideal combination of space and history. With 2 well-appointed units, this property presents a versatile investment option with the potential for dual tenancy or a single-occupant venture. Its strategic location and timeless architecture make it a standout choice for those seeking to establish a presence in this thriving area. Don't miss the chance to make this distinguished property the cornerstone of your office building investment portfolio.
Investment highlights
Dense trade area with over 180,000 residents within a five-mile radius and traffic counts exceeding 32,000 vehicles per day along E Tennessee Street.
Prime positioning on E Tennessee Street, a major east-west corridor providing seamless access to Downtown Tallahassee, I-10, and the medical district.
Highly adaptable asset suitable for urgent care, specialty medical, dental, imaging, therapy, or medical office conversion.
Compelling value-add opportunity with the ability to lease at current market rents of approximately $19 to $22 NNN, driving meaningful NOI growth and attractive exit upside.
Offered below replacement cost, with comparable vacant properties trading at under $130 per SF.
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