Historical Industrial Sale Listing - Tallahassee FedEx Facility, NNN Lease

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Tallahassee FedEx Facility, NNN Lease

3401 Commonwealth Blvd, Tallahassee, FL 32303

N/A

32,740 SF | Industrial

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Distribution Area

Industrial Property - Off Market

Price:
N/A
Building Size:
32,740 SF
Property Type:
Industrial
Property Sub-type:
Distribution Warehouse
Additional Sub-types:
Flex Space
Property Use Type:
Investment
Cap Rate:
8%
Occupancy:
100%
Tenancy:
Single
Year Built:
1988
Dock-High Doors/Loading:
5
Drive In/Grade-Level Doors:
14
Lot Size:
2.91 AC
Listing ID
13905578
Last Updated
over 1 year ago

Utilities

  • Fenced Yard

Highlights

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

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.

Map of 3401 Commonwealth Blvd, Tallahassee, FL 32303

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

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