Southwood Town Center – Tallahassee, FL

Subway
3196 & 3197 Merchants Row Boulevard - Tallahassee, FL 32311

Sands Investment Group is Pleased to Exclusively Offer For Sale the 32,590 SF Southwood Town Center NNN Asset Located at 3196 & 3197 Merchants Row Boulevard in Tallahassee, FL. All the Tenants Have Net Leases and Are Responsible For Reimbursing Their Pro-Rata Share of all Operating Expenses, Repairs, and Maintenance, Making it an Attractive Investment For the Passive Real Estate Investor, Providing For a Secure Investment.

  • The Asset: Southwood Town Center is a Multi-Tenant Retailer Center, Comprised of Two (2) Buildings With 32,590 SF of Leasable Space on a Combined 1.24-Acres of Land; The Property Features Eleven (11) Commercial Suites and is 95.77% Occupied; The Property is Anchored By Parkway Baptist Church and TC Fitness, Which Combined Occupy 54.27% of the Center
  • Scheduled Rent Increases: Five of the Leases Provide Scheduled Rent Increases Throughout the Primary Lease Term or at the Start of the Renewal Options, Providing an Attractive Increase in Revenue and a Hedge Against Inflation
  • Net Leases: All the Tenants Have Net Leases and Are Responsible For Reimbursing Their Pro-Rata Share of All Operating Expenses, Repairs, and Maintenance, Making it an Attractive Investment For the Passive Real Estate Investor
  • Strong University Presence: Tallahassee is Home to Florida State University (FSU), Florida A&M University (FAMU), and Tallahassee State College, Giving it a Strong Academic and Research-Oriented Identity; These Institutions Significantly Shape the City’s Character, Providing Employment and Drawing a Diverse Student Population; With Over 190,000 Residents, Tallahassee Balances a Small-Town Feel With the Amenities of a Larger City
  • Area Economic Drivers: The Economy of Tallahassee is Centered Around Government, Education, Healthcare, and Technology; As the State Capital, It Hosts Numerous State Government Agencies and Offices, Making Government Employment a Major Economic Driver; Healthcare is a Significant Industry, Anchored By Institutions Such as Tallahassee Memorial Healthcare and HCA Florida Capital Hospital
  • Strong Demographics: Approximately 23,900 People Live Within 3-Miles of the Property With an Average HHI of $96,307; More Than 75,300 People Live Within 5- Miles of the Property With an Average HHI of $89,085; Additionally, There Are More Than 66,400 Employees Within 5-Miles of the Property
  • Upside Potential: The Property Features One (1) Vacant Suite Consisting of 1,378 SF; The Opportunity Exists to Increase the Revenue at the Property Through the Lease-Up of the Vacant Space
  • Dynamic Master-Planned Community: The Property is Positioned Within the Heart of Southwood, a 3,300-Acre Master-Planned Community That Includes Single-Family Homes, Finished Homesites, and Multi-Family Dwellings, Including Townhomes and Rental Apartments
  • Prime Retail Location: Southwood Town Center is Well Located in Southeast Tallahassee, Approximately 6-Miles From the Central Business District and Florida State University

 

In Cooperation With SIG RE Services, LLC – Lic. #CQ1055229 BoR: Andrew Ackerman – Lic. FL #BK3369953

Price

$5,990,000

Cap Rate

6.81%

PREMISES

32,590 SF

RENEWAL OPTIONS

Varies

Lease Expiration

Varies

Lease Type

NNN

RENTAL INCREASES

Varies

BROKERS

Jessica Harris
Fort Lauderdale
Jacob Strahler
Fort Lauderdale
Andrew S. Ackerman
Atlanta

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