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31636568
31636569

1968 W Tennessee St, Tallahassee, FL 32304

MT
FL BK3217284
STNL
JP
FL SL3644633
STNL
NW
FL SL3477920
STNL
Listed by STNL
$3,390,000
53 days on market
Updated 3 days ago

The Flowery Cannabis Dispensary

Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 5,000
Net Rentable (SqFt) 5,000
Units 1
Cap Rate 7.25%
NOI $245,864
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Term 15
Lease Expiration 01/31/2038
Remaining Term 11.7
Rent Bumps Yes
Lease Options 2, 5-year options
Broker Co-Op Yes
Year Built 1981
Year Renovated 2024
Buildings 1
Acreage 0.220
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 01/19/2023
Ground Lease No
Ownership Fee Simple

0.25 mi from Florida State University | 11+ yr lease | 3% increases

Marketing description

STNL.com is pleased to present this 100% fee simple STNL The Flowery cannabis dispensary located in the heart of Tallahassee, FL and just steps from Florida State University. Three reasons to own this property include:

1. Florida State University: Located approximately 0.25 miles from Florida State University, which enrolls 46,184 students. The property benefits from immediate access to this large student population, driving consistent daily traffic and supporting nearby retail demand.

2. Retail Hub: Located within a dense retail corridor anchored by nationally recognized tenants such as Publix and Target, both situated directly across the street from the subject property. The corridor is home to a variety of national retailers, reflecting strong tenant demand and a well-established retail market.

3. Investment-Grade Location: Positioned along West Tennessee Street, one of Florida State University's primary thoroughfares. With traffic counts exceeding 43,500 vehicles per day, the property offers strong visibility and access, supporting its position as an investment-grade location.

Investment highlights

FSU Proximity: 0.25 miles from Florida State University (46K+ students), driving strong daily traffic.

Strong Retail Corridor: Across from Publix & Target within a high-demand national retail hub.

High-Visibility Location: Situated on West Tennessee St. with 43,500+ VPD, offering excellent access and exposure.

Listing Contacts

MT
FL BK3217284
STNL
JP
FL SL3644633
STNL
NW
FL SL3477920
STNL
Listed by STNL

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$245,864.00
$20,488.67/mo

Valuation Metrics

0
DSCR
7.25%
Cap Rate
7.25%
ROI

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Additional Information

Name
Mark Thompson
License
BK3217284
Brokerage Phone
689.666.9560
Name
Justin Presley
License
SL3644633
Brokerage Phone
6896669537
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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