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32291476
32291477

3510 N Monroe St, Tallahassee, FL 32303

TW
FL FL 658092
Premier Commercial Group
Listed by Premier Commercial Group
$2,990,000
31 days on market
Updated 1 day ago

ACE HARDWARE

Details
Property Type Retail
Sub Type Storefront
Square Footage 23,625
Cap Rate 6.35%
NOI $190,000
Tenancy Single
Brand/Tenant Ace Hardware , Ace Hardware
Lease Type NNN
Remaining Term 9
Rent Bumps Yes
Lease Options three (3) five-year renewal options
Class A
Year Renovated 2025
Acreage 1.730
Investment Type Sale/Leaseback
Tenant Credit Franchisee
Ground Lease No
Sale Condition Sale for leaseback

Retail | 6.35% CAP | 23,625 SqFt

Marketing description

Premier opportunity to acquire a stable, income-producing retail asset at 3510 N Monroe Street in Tallahassee, Florida, offered as a sale/leaseback with Ace Hardware, one of the nation's largest and most recognized hardware retailers.

The property is secured by a long-term lease with approximately 9 years remaining, featuring 10% rent increases every 5 years and three (3) five-year renewal options, providing predictable cash flow and built-in income growth. The landlord is responsible for roof and structure, offering a clearly defined responsibility structure.

While Ace Hardware is a national brand, the lease is with a long-standing local franchisee, not corporate. This location has served the Lake Jackson community for over 15 years, demonstrating strong tenant stability and local market presence.

Located along North Monroe Street, a primary Tallahassee retail corridor, the site benefits from strong traffic counts, established retail synergy, and consistent consumer demand.

This offering is ideal for investors seeking durable tenancy, long-term income stability, and exposure to a proven national retailer in a growing Florida market.

Investment highlights

  • Sale/leaseback with Ace Hardware, one of the nation's largest hardware brands
  • 9 years remaining with 10% rent bumps every 5 years + three 5-year renewal options
  • Lease with established local franchisee serving Lake Jackson for 15+ years
  • Landlord responsible for roof and structure
  • Prime location on North Monroe Street, Tallahassee's primary retail corridor with strong traffic and retail synergy

Listing Contacts

TW
FL FL 658092
Premier Commercial Group
Listed by Premier Commercial Group

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$190,000.00
$15,833.33/mo

Valuation Metrics

0
DSCR
6.35%
Cap Rate
6.35%
ROI

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Additional Information

Name
Tracy Waters
License
FL 658092
Brokerage
Premier Commercial Group, LLC
Title
Broker
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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