Redevelopment Opportunity Tallahassee, Florida

$3,250,000
Cap Rate:
Closed Single-Tenant
Property type: Vacant Land

Property Details

Cap Rate: -
Price: $3,250,000
Rentable Square Feet: 7,078 SF
Price PSF: $459.17
Land Area: 2.62 Acres
Price Per Land SF: $28.47
Year Built: 1995
Parking: 122 Spaces

3390 Capital Cir NE
Tallahassee, Florida 32308

Investment Highlights

  • 7,000+ Square Foot Building on 2.62-Acre Parcel
  • 122 Parking Spaces, 120 Standard and Two Handicap
  • Located off Interstate 10, Which has a Daily Traffic Count of 70,000 Vehicles, on Capital Circle, With a Daily Traffic Count of 56,000 Vehicles
  • Six Miles from Florida State University, and Florida A&M University, with a Combined Enrollment of 51,000 Students
  • 11 Miles from Tallahassee International Airport
  • Surrounding National Brands Include Fresh Market, Trader Joe’s, Publix, Home Goods, T.J. Maxx, Bealls, Home Depot, Lowe’s, Hampton Inn & Suites, Hilton Garden Inn, Courtyard by Marriott, Starbucks, Chipotle, Outback Steakhouse, Five Guys, McDonald’s, Dunkin Donuts, CVS and Many More
  • Multiple Hotels Wthin Walking Distance of Subject Property
  • Population of Leon County is the Most Educated Population in Florida, with 49 Percent of the Residents with Either a Bachelor’s, Master’s, Professional or Doctorate Degree

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to offer Tallahassee Redevelopment Opportunity and acquire 3390 Capital Cir NE, a vacant, single-tenant property within the Tallahassee market. Formerly utilized as a restaurant, the property consists of a 7,000+ square foot building situated on a 2.62-acre parcel located off Interstate 10, which has a daily traffic count of 70,000 vehicles, and Capital Circle, with a daily traffic count of 56,000 vehicles.

The subject property is located approximately six miles from Florida State University, and Florida A&M University, with a combined enrollment of 51,000 students, 11 Miles from Tallahassee International Airport, and within walking distance of multiple hotels. Surrounding national brands include Fresh Market, Trader Joes, Publix, Home Goods, T.J. Maxx, Bealls, Home Depot, Lowes, Hampton Inn & Suites, Hilton Garden Inn, Courtyard by Marriott, Starbucks, Chipotle, Outback Steakhouse, Five Guys, McDonald’s, Dunkin Donuts, CVS and many more.

Tallahassee has a population of 382,000. As the capital of Florida, state government is the driving force to the local economy. The Population of Leon County is the Most Educated Population in Florida, with 49 percent of the Residents with either a bachelors, masters, professional or doctorate degree. This property presents owner/users with the unique opportunity to acquire a sizable and unique redevelopment opportunity.

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