This Industrial Property is Off-Market.

3401 Commonwealth Blvd
Tallahassee, FL 32303 ·

32,740 SF · Industrial For Sale

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Tallahassee FedEx Facility, NNN Lease

Price N/A Tenancy Single
Building Size 32,740 SF Year Built 1988
Property Type Industrial No. Dock-High Doors/Loading 5
Property Sub-type
Distribution Warehouse
More...
  • Flex Space
No. Drive In / Grade-Level Doors 14
Property Use Type Investment Lot Size 2.91 AC
Cap Rate 8% Features Fenced Yard
Occupancy 100%
Listing ID: 13905578 Date Created: 04/21/2004 Last Updated: 08/25/2004

Description

This well-maintained 32,740 SF facility has been leased by FedEx since its constuction in 1988. Its proximity to I-10, north Florida's major highway, and Capital Circle NW has made it an ideal location for FedEx's Tallahassee operations. Standard and Poors recently affirmed FedEx credit rating of BBB. Current renewal term expires in 4.5 years, with rental increases. Average annual income for years 1-2 equals $160,130. Average annual income for years 3-5 equals $173,930. Absolute triple-net lease terms. Approximately 25% of the facility is built out as office, with a storefront for retail shipping, conference room, and locker rooms. Distribution space accomodates 44 trucks with a total of 11 rollup doors. Mechanics area has three additional ground level bays. Separate free-standing truck wash facility on-site. Fenced parking area with two automated gate openers.

The facility is situated on a 2.91 acre lot with room for expansion. Located within the Commonwealth Center, home General Dynamics, UPS, Coca-Cola, Unisource, and Waste Management. Less than a mile from the intersection of Interstate 10 and Capital Circle NW.

Highlights

  • NNN Leased to FedEx
  • Close proximity to I-10
  • Stable National Tenant

Utilities

  • Fenced Yard

Research

3401 Commonwealth Blvd, Tallahassee, FL 32303 (Leon County)

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